Global  

Celebrating 10 Years of Trusted News Discovery
One News Page
> >

Highlands Natural Resources to enter cannabidiol market in Colorado with new growing operation

Proactive Investors Wednesday, 20 March 2019
Highlands Natural Resources PLC (LON:HNR) is to set up a cannabidiol (CBD) operation in Colorado using hydrogen from its gas operation in Kansas as fertiliser. In an announcement after the close on Tuesday, the oil and gas firm said through its new subsidiary, Zoetic Organics, it was aiming to lease a 33,000 square foot facility in Colorado, which had the capacity for 40,000 hemp plants each year. WATCH: Highlands Natural Resources PLC launches offer on PrimaryBid for its new CBD subsidiary Zoetic would then target sales of products including organic hemp oil and pre-rolled smokable products in both wholesale and retail, with HNR expecting first revenues by mid-2019 and profitability by the end of the year. The move followed a recent trial with another cannabis grower in the state which showed the hydrogen recovered from HNR’s gas operation had increased the size of the plants grown when added as an organic fertiliser, with the results surpassing expectations. To help fund the new business, the group said it had raised around £1.56mln through the subscription of 18.3mln new shares at a price of 8.5p each, a 12.4% discount to its last close price. Robert Price, executive chairman and chief executive of Highlands, said Zoetics would provide the company with an opportunity to enter the “rapidly growing CBD market” at low cost. “Our immediate priority is to advance the discussions currently underway with potential retail and wholesale partners, purchase manufacturing equipment and expand our outdoor growing, ahead of our intended harvest of our first 10,000 hemp plants by mid-2019.” The company also said that the new operation would be developed alongside its existing asset portfolio, which includes 8 producing shale wells in Colorado that would cover the firm’s overheads in 2019. CBD is increasingly being recognised by various medical organisations, including the World Health Organisation (WHO), as a method treating symptoms of conditions such as Alzheimer’s and Parkinson’s. According to a report from market research firm Brightfield Group, the CBD market is estimated to be worth around US$22bn by 2022.
0
shares
ShareTweetSavePostSend
 
Credit: 7News - The Denver Channel - Published < > Embed
News video: New accusations that valuables, money were stolen from patients at Clear View Behavioral Health

New accusations that valuables, money were stolen from patients at Clear View Behavioral Health 04:29

These new and somewhat disturbing accusations come while state and federal investigators continue digging into what is happening inside the Johnstown mental health facility.

You Might Like


Recent related videos from verified sources

Full news conference: Polis says Colorado reinsurance plan will slash health premiums [Video]Full news conference: Polis says Colorado reinsurance plan will slash health premiums

If approved by federal officials, the reinsurance program could help more than 250,000 Coloradans who buy coverage on the individual market created under former President Barack Obama's health care..

Credit: 7News - The Denver Channel     Duration: 25:02Published

DOT Denies Accusations Of Sidewalk Repair Double Standards [Video]DOT Denies Accusations Of Sidewalk Repair Double Standards

Cracked and uprooted sidewalks are causing a rift between Staten Island neighbors and the city; CBS2's Reena Roy reports.

Credit: CBS 2 New York     Duration: 02:14Published

How To Stay Safe In The Summer Heat [Video]How To Stay Safe In The Summer Heat

In anticipation of the first heat wave of the summer, cooling centers are opening in our area, and residents are urged to take precautions as temperatures sour above 90 degrees; CBS2's Jennifer McLogan..

Credit: CBS 2 New York     Duration: 01:46Published

New Yorkers Celebrate Apollo 11's Trip To The Moon [Video]New Yorkers Celebrate Apollo 11's Trip To The Moon

From the long walk to the Saturn 5 Rocket, to stepping on the moon, the Apollo 11 mission captivated Americans and curated hope. CBSN New York's Vanessa Murdock reports.

Credit: CBS 2 New York     Duration: 04:10Published


Recent related news from verified sources

Highlands Natural Resources showcases CBD products ahead of UK launch

Highlands Natural Resources PLC's (LON:HNR) Nick Tulloch chats to Proactive London's Andrew Scott ahead of the start of sales of their cannabidiol (CBD) products...
Proactive Investors

Ukraine: Kinstellar Energy & Natural Resources Digest: Ukraine. June 2019 In Review - Kinstellar

The new energy market began operation on 1 July 2019, despite previous discussions concerning the proposed delay in the launch of the new energy market by three...
Mondaq

Enteral Feeding Devices (EFDs) Market: Rising incidences of preterm birth is significantly driving the market growth

NEW YORK, July 15, 2019 (GLOBE NEWSWIRE) -- The *global enteral feeding devices market* is expected to reach *USD 3.65 billion by 2025*, while witnessing a *CAGR...
GlobeNewswire

Bragg Gaming subsidiary ORYX Gaming launches new content aggregation hub

ORYX Gaming, a subsidiary of Bragg Gaming Group (TSXV:BRAG) (OTC:BRGGF), launched an enhanced content aggregation platform, the company announced Tuesday. The...
Proactive Investors


Other recent news in Business

Who is URSULA VON DER LEYEN? Germany's former defense minister is set to take Europe's top jobDICK SMITH complains about his $500k tax refund
Environmentally friendly: One News Page is hosted on servers powered solely by renewable energy
© 2019 One News Page Ltd. All Rights Reserved.
About us  |  Contact us  |  Disclaimer  |  Press Room  |  Terms & Conditions  |  Content Accreditation
 RSS  |  News for my Website  |  Free news search widget  |  In the News  |  DMCA / Content Removal  |  Privacy & Data Protection Policy
How are we doing? FeedbackSend us your feedback  |   LIKE us on Facebook   FOLLOW us on Twitter  •  FOLLOW us on Pinterest
One News® is a registered trademark of One News Page Ltd.