Cannabis Science Inc (OTCMKTS:CBIS) and FSO NAC reported that they have commenced the initial harvesting of around 60 acres of industrial hemp on “San Joaquin Sovereign Tribal Fee land MBS” in California. The first phase of project 2017 CBIS/FSO NAC MBS001 will be around 15-acres that is ongoing now. It is projected to be finished by the end of this month. Next phase of the project will be covering remaining 45 acres and is anticipated to be completed by the close of September 2017.
Raymond C. Dabney, the President, Co-Founder and CEO of Cannabis Science, reported that he is extremely delighted with the development of their Native American measures and their associates are second to none. They understand the landscape, they are aware of the procedure, they get it, and so do they.
The commercial research planned for the 2017 CBIS/FSO NAC MBS001 harvest is thorough, preliminary research targets comprise extraction for medicines targeting major ailments, wholesale supply to physicians and approved wholesale manufacturers, extraction R&D for fuel, construction materials, food, clothing, paper, biomass soil and vehicle production, the industries are numerous and the numbers are huge.
The preliminary 60-acres of the project harvest is anticipated to come in potentially nearly 70,000-pounds, with raw wholesale figures that make sense close to $500.00 per lb., and factoring in high quality and high demands can create a substantial increase in value for the measure. This project is aggregate of 250 acres and is a major part of Cannabis Science’s initially reported Native American Sovereign Economic Development plan.
Since the initiative release, the firm has more than 3,500 acres under deal for economic development for Universities as well as site services including, lab facilities for R&D. Other major fundamentals based on the demographics of the segment include apartments, dormitories and housing, and the required retail services depending on area demographics like grocery stores, clinics/pharmacies, retail strip malls, restaurants and gas stations.