Los Angeles, CA, Dec. 20, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Demand Brands, Inc. (OTCPK:DMAN), (“Company” or “DMAN”), a collection of brands and businesses promoting healthy lifestyles, operating in the Health and Wellness, Cannabis Edibles, Hemp and CBD industries http://www.demandbrandsinc.com is pleased to report that the anticipated, soon to be law H.R. 2 Agricultural Improvement Act of 2018, known as the “Farm Bill” that will reclassify the use of hemp for commercial uses, will allow the Company to significantly accelerate its development, production and distribution of its product line and will generally, positively impact the Company’s business: https://www.livetradingnews.com/us-hemp-market-set-to-boom-116724.html#.XBphoMbrthF. The Farm Bill includes a provision involving industrial hemp and its derivative, cannabidiol CBD effectively removing CBD from the Controlled Substances Act Scheduling placing it now under the supervision of the Department of Agriculture.
Bruce Hannan, CEO of Demand Brands Inc., commented, “For the Demand Brands products, the importance and future of this news cannot be understated. This approval from the Senate and the House and the signing of the 2018 Farm Bill into law will bring an end to the legal grey area that has limited the production and distribution of some profoundly beneficial substances. For the industrial hemp market it will enable seed to sale marketing of all industrial hemp products, just like any other agricultural commodity. This should be a huge win for the economy, the Company, and the entire hemp industry. Our Infusional and MigrapureH brands will be able now to complete development and go into production and we expect to begin roll-out in early 2019 targeting niche markets through upcoming expos and trade shows and by tapping the extensive database of health care clinics within the sector. The Company also intends to accelerate its existing JV arrangements for products in the US.”
Industry experts forecast that legalization will further enhance the mainstream awareness and acceptance of industrial hemp uses and products, this potentially could drive sector revenue growth in excess of $20 billion annually by 2022.
Mr. Hannan continued, “With industrial hemp classified like any other agricultural product, we expect several key obstacles that have, heretofore, slowed progress to be removed such as free access to the federal banking system, open interstate commerce and the opportunity to now access conventional lenders along with the ability to, potentially, distribute throughout the country to mainstream, online and brick-and-mortar distribution channels like Amazon and Big Box stores, chain pharmacies, medical offices, and health and wellness clinics.”
“We’ve spent the last year building up Demand Operations, team expertise, and branding and will continue to work towards becoming one of the leaders in the industry with a focus on proprietary formulations that will concentrate on specific health issues, backed by scientific studies. We believe we are well positioned to now successfully implement our growth and expansion plans, secure strategic managers and further develop products, brands and relationships that will continue to establish us in the industrial hemp sector throughout Q1/2019 and beyond benefitting all DMAN shareholders.”
About Demand Brands
Demand Brands, Inc. is associated with an array businesses and brands consumers have come to know and trust that market innovative and leading Edibles, Oils, Vapes and Beverage products and manages ventures in the Hemp + Healthy, Cannabis/CBD Superfoods and Education and Technology sectors that promote healthy lifestyles for women, men, children and pets. http://www.demandbrandsinc.com
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This press release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. In addition to statements which explicitly describe such risks and uncertainties, readers are urged to consider statements labeled with the terms "believes", "belief", "expects", "intends", "anticipates", “projects” "will", or "plans" to be uncertain and forward looking. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in the company's reports and registration statements filed with the Securities and Exchange Commission.