Colorado-based Elixinol Announces New Operations Partnership with Historic Colorado Farmer
Partnership Will Expand and Fortify Elixinol’s Industrial Hemp Supply Chain
DENVER, April 25, 2018 (GLOBE NEWSWIRE) — Elixinol LLC, a subsidiary of Elixinol Global (ASX:EXL) announces an agricultural operations extension for Elixinol LLC in the state of Colorado. Named Northern Colorado High Plains Producers (NCHPP), the joint venture with Kersey Ag strengthens Elixinol’s hemp and CBD supply chain.
Kersey Agricultural Company, who has held ranching operations in Colorado since 1901 uses the newest in efficient drip-irrigation techniques and technologies with no added foreign chemicals.
Elixinol will inject $1.8 million into NCHPP with Kersey Ag contributing $.7 million plus long-term lease of land and water rights. Elixinol and Kersey Ag will each hold a strategic 50% interest in the joint venture.
NCHPP will utilize up to 700 acres of farmland traditionally used to grow alfalfa, silage corn, and other forage crops with additional land available as required. The farmland, secured by an initial 5-year lease term extendable up to 30 years, in the pristine Northern Colorado High Plains, includes water rights.
NCHPP will strengthen Elixinol LLC’s Colorado-domestic, organic industrial hemp sourcing while bolstering access to premium organic hemp while ensuring maximum yields, decreasing production costs and securing against drought.
This partnership signifies Elixinol’s commitment to support US hemp while leading the global hemp industry with a modern supply chain, which enables us to consistently and predictably provide premium CBD products that meet not only our standards, but our customer’s standards also.
Gabriel Ettenson co-founder and general manager of Elixinol LLC
With expanded hemp access and operations solidified for at least three decades, Elixinol LLC will be able to continue its market demand expansion of full-spectrum CO2 extracted CBD with bulk CBD hemp oil sales and expanded retail product availability.
Colorado-based Elixinol, co-founded by Paul Benhaim, hemp entrepreneur since 1991, is widely regarded as one of the most influential CBD brands in the world. With a proven track record of growing and manufacturing high-quality hemp, Elixinol also conducts rigorous laboratory testing and quality control. A global leader in hemp distribution, Elixinol distributes CBD products in 40 countries globally including North and South America, throughout Europe, Asia and the Pacific Region. Elixinol’s parent company Elixinol Global (elixinolglobal.com) is publicly traded under on the Australian Stock Exchange as EXL. More information available at Elixinol.com.
About Elixinol Global
Elixinol Global is publically traded on the ASX under EXL. The holding company has a global presence in the cannabis industry including hemp, CBD dietary supplements, food and wellness products, and the cultivation and manufacture of medicinal cannabis products. Elixinol Global’s brands include: Elixinol LLC, founded in 2014, manufacturer and distributor of industrial hemp based dietary supplement and skincare products, with operations based out of Colorado, USA. Hemp Foods Australia Pty Ltd, founded in 1999, manufacturer and distributor of industrial hemp food products in Australia. Elixinol Pty Ltd, founded in 2014, to take part in the emerging Australian medicinal cannabis market.