Hemp Rivers Aquaponics Ltd commits to work with industry leader Klonetics to meet the growing medical demand

May 28 13:50 2020
Hemp Rivers Aquaponics (Hemp Rivers), a leading-edge B.C. agritech company has signed a Letter of Intent with Klonetics Plant Science Inc (Klonetics) to supply plants and license intellectual property.

● Hemp Rivers focus is on high CBD hemp, to meet the growing needs of the medicinal CBD market.

● Hemp Rivers intends to grow high CBD hemp aquaponically to ensure steady and reliable crops that are not affected by the Canadian climate.

● Klonetics will act as the nursery to develop high CBD hemp plants optimised for growth aquaponically.

Hemp Rivers and Klonetics

Hemp Rivers Aquaponics has signed a letter of Intent with Klonetics, known for their cutting-edge genetics. Klonetics has one of the largest banks of cannabis and hemp genetics in Canada.

Sage Ellie, CEO of Hemp Rivers stated, “We’re looking forward to working closely with the Klonetics team, to take CBD production to new levels.”

The CBD Market

Global Market Insights, Inc. recently reported that they estimate the global CBD market will cross US$89 billion by 2026. This growth is driven by growing medical applications and increasing retail sales of CBD products. In addition, the report expects a greater percentage of this growth to come from Hemp versus cannabis, the other crop used to source CBD.

Cannabidiol (CBD) is an active ingredient in cannabis derived from hemp or cannabis plants. Increasing data suggest it may help treat conditions like pain, insomnia, and anxiety. Historically Cannabis strains have been developed with a focus on high THC and on the illicit growing, rather than larger scale growth. For the medicinal markets, there is more of a need for strains with specific cannabinoids to meet the medical requirements without the requirement for THCs.

Both parties will now proceed with their applications for a nursery licence or cultivator licence, under the Cannabis Act (Canada).

About Hemp Rivers Ltd

Hemp Rivers Mission is to consistently provide CBD processors with a superior crop of medical grade high CBD – hemp on an environmentally sustainable basis.

Klonetics Plant Science Inc. is the leader in industrial-scale cannabis tissue culture propagation, Klonetics specializes in Ready to Plant™ clone plantlets, Ready to Flower™ plants, and advanced genomics and breeding. With exclusive access to an extensive selection of proprietary strains, Klonetics provides growers in Canada with 100% sterile packaged plants that provide strong strain genetics for predictable growth and product consistency that is unmatched in the industry.

Media Contact
Company Name: Bennett Milner Williams Consulting Ltd.
Contact Person: Victoria Bennett
Email: Send Email
Phone: 403 589 7992
Country: Canada
Website: https://greenzagritech.com

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