Wildflower to Capitalize on Hemp Legalization
VANCOUVER, British Columbia, Dec. 18, 2018 (GLOBE NEWSWIRE) — Wildflower Brands Inc. (CSE: SUN, OTC:WLDFF) (the “Company”) is pleased with the passing of the 2018 Farm Bill, which includes the Hemp Farming Act of 2018. This legislation is now awaiting Presidential signature. The Bill unequivocally removes hemp as a designated controlled substance, legalizing CBD in all 50 states.
In 2016, CBD products comprised the majority of the $68 million in domestic sales of hemp goods. According to the market research firm Brightfield Group, hemp legalization is predicted to catalyze the expansion of the hemp CBD market, reaching $22 billion by 2022. By clearly legalizing industrial hemp and essentially reclassifying it as a lawful agricultural commodity, CBD products will be able to gain further mainstream retail distribution.
Wildflower products are already found in many traditional retail outlets in the health and wellness sector. With this clear statement in the form of the Hemp Farming Act, all retailers will begin to embrace CBD products as their increasing acceptance for health and wellness continues to grow. Wildflower will be able to leverage existing relationships along with the brand recognition Wildflower has earned to expand its distribution substantially.
William Maclean, CEO of Wildflower says, “Wildflower has been a leader in promoting CBD into traditional retail outlets the past few years breaking down the misconceptions surrounding it. With such a clear statement by Congress and the Senate on its legality we intend to be the leader in the expected exponential growth as public awareness grows on the health benefits of CBD.”
ABOUT WILDFLOWER BRANDS
Wildflower Brands is a company headquartered in Vancouver building reputable brands and quality products that incorporate the synergistic effects of plants and their extracts.
On Behalf of the Board of Directors
Director and CEO
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