Sanitas Peak Financial has announced the completion of a $3-million debt placement for Colorado Cultivars USA (CCU), a commercial hemp company that sustainably grows and wholesales industrial hemp and provides value-added products and processing services. In 2018, CCU grew 1,500 acres and plans to have 4,000 acres under cultivation in 2019, of which, 2,000 acres will be USDA certified organic hemp. CCU is also is a certified USDA organic handler.
"Proceeds from the debt placement will enable CCU to expand its production capabilities with the development of a new 8,500-square-foot processing facility at its Eaton farm location. This will enable us to quadruple its processing capacity to meet the high demand for cannabidiol (CBD)," the company explains.
"Industrial hemp has long been overlooked for its health, industrial and agricultural benefits due to regulatory restrictions, as well as a lack of financing and infrastructure development. This is poised to change with the Presidential signing of the 2018 U.S. Farm Bill. The hemp market in the U.S. is projected to hit $1.65 billion in 2021, six times what it is now. In addition, federal legalization could triple the overall hemp market to $2.5 billion by 2022, with $1.3 billion of those sales from hemp-derived CBD products, according to New Frontier Data, a cannabis market research firm."
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