• Powered by Crown Equity Holdings Inc.
      • crown-logo

        Crown Equity Holdings Inc. is publicly traded with the symbol CRWE. The Company primarily provides and offers advertising, branding, marketing solutions and services to boost customer awareness, as well as merchant visibility as a worldwide online multi-media publisher. For list of services offered click here

Post on CRWE World Login
logo Fairfield, UNITED STATES
header-img
  • Home
  • News
  • World
      • World News
      • Español
  • Politics
      • U.S. Legislators
      • Political News
  • Sports
  • Business
      • Markets
      • Hottest Stocks Today
      • CRWEWorld Stocks
      • Blockchain
      • Regulatory
      • Accounting
      • Fundraising Campaigns
      • IPOs
      • Money
      • Career
  • Tech
      • Tech
      • Science
  • Living
      • Arts & Entertainment
      • Family
      • Food
      • Pets
      • Seniors
      • Fashion/Fitness
      • Home & Garden
  • Health
      • Health
      • Pharma & Biotech
  • Opinion
      • Finance
      • Law
      • Healthcare
      • Cannabidiol (CBD)
      • Fashion
      • Podcasts
      • Tech
      • Music
  • Travel
  • Local
      • News
      • Trending Now
      • Real Estate
      • Coupons & Deals
      • Business Directory
  • Jobs
  • More
      • Business 2 Business
      • Press Releases
      • Press Releases Pricing
      • News from GlobeNewswire
      • News from PR Newswire
      • News from Business Wire
      • News from Accesswire
      • Video Channels
      • Beauty
      • Business
      • Comedy
      • Entertainment
      • Fashion
      • Featured
      • Health
      • Instructional
      • News
      • Politics
      • Sports
      • Technology
      • Entertainment
      • Horoscope
      • Sudoku
      • Crossword
      • Games
      • Chat
      • Affiliate | How It Works
      • Join CRWE WORLD Affiliate Program
      • CRWE WORLD Advertising Services Rate
      • Crown Equity Holdings' Overview
      • CRWEWorld Real-Time Global Visitors
      • Content Delivery Solution
        • Contact Us
  • More

Change City


-- OR --
load
load
/assets/img/hottest3.png
/assets/img/hottest2.png

/assets/img/reef2.png
/assets/img/red-line.jpg
/assets/img/reef.png
  • Home
  • Articles
  • News Provided by PR Newswire
21ьз╕ Cweather-icon
/assets/img/hottest3.png
/assets/img/hottest2.png

/assets/img/reef2.png
/assets/img/red-line.jpg
/assets/img/reef.png

US Senate Approves The 2018 Farm Bill

News Provided by PR Newswire2018-06-29
92 Views

US Senate Approves The 2018 Farm Bill

 
[29-June-2018]
 

CBD-Hemp Oil Legalized Across the USA

VANCOUVER, June 29, 2018 /PRNewswire/ - Phivida Holdings Inc. ("Phivida" or the "Company") (CSE: VIDA) (OTCPK: PHVAF) reports that on June 28th the U.S. Senate officially passed the Agriculture Improvement Act of 2018 (i.e. the "Farm Bill"). The 2018 Farm Bill included a provision lifting the USA Industrial Hemp laws from a research and development pilot to a full agricultural commodity status - and effectively removed hemp derived CBD (cannabidiol), and all naturally occurring cannabinoids therein, from the controlled substance list.

Phivida Holdings Inc. (CNW Group/Phivida Holdings Inc.)

Senate approval of the 2018 Farm Bill is the single most significant milestone in the history of the US CBD-Hemp industry to date, and provides Phivida, and its shareholders, with a significant opportunity for prospective growth.

The Farm Bill was authored by Majority Leader Mitch McConnell (R-KY) with Minority Leader Chuck Schumer (D-NY) acting as co-sponsor. Leading up to Senate approval, the US House of Representatives also passed the Billi, as did the Senate Agriculture Committee who voted in favour by a margin of 20-1.ii Senator Grassley's (R-IA) proposal to remove cannabidiol from the definition of industrial hemp was denied, resulting in a sole opposition vote.

Earlier this year, another milestone court ruling also provided significant regulatory support for the US CBD-Hemp sector. In February 2018, the Supreme Court preceded over the HIA (Hemp Industry Association) vs. DEA (Drug Enforcement Agency) in a class-action suit concerning the issue of CBD extracted from hemp, and the legality of industrial hemp. In the final ruling the Supreme Court unequivocally determined that - when produced domestically under the Farm Bill - hemp (and its derivatives) are not a controlled substance.

The Supreme Court ruling also found the Farm Bill (as it relates to hemp) "pre-empts" the Controlled Substances Act. Congress has since exempted Farm Bill hemp from the Controlled Substances Act (CSA) giving the Farm Bill primary jurisdiction over the governance of the CBD-Hemp Oil industry in the USA.

The DEA further conceded it does not "seek to control cannabinoids," and that only marijuana derived cannabinoids are governed under the Controlled Substances Act. In May of 2018, the DEA issued a formal directive to all federal agencies (e.g. US Customs and Border Patrol) stating that cannabinoids are not controlled substances unless derived from marijuana, and that the "mere presence of cannabinoids" in any product or derivative does not render it a controlled substance. The Supreme Court ruling also resulted in the mediation of a settlement in what is now the third successful HIA vs. DEA suit in over a decade.

When combined, the approval of the Farm Bill and the latest HIA vs. DEA ruling fully legitimizes a nascent CBD-Hemp industry that has been forecasted to grow, from US $202 million in 2016, to over US $2.1 billion by 2020.iii

Widely studied as a natural opiate replacement category, CBD Hemp Oil foods and supplements are now open to mainstream OTC retail pharmacy channels providing indirect exposure to a global pain management therapeutics market forecasted to reach 3.7% CAGR, from US $60.2 in 2016, to over US$83 billion by 2024.iv Senate approval also creates a safe harbor for US financial institutions to service the industrial hemp sector with banking services.

In Canada, federal legalization of medicinal cannabis was also approved this month. Bill C-45 (also known as The Cannabis Act) received Royal Assent and officially passed into law on June 21st by a margin of 52-29 with an effective date set for October 2018 and a mandate of legalizing cannabinoid infused edibles by 2019.v The Canadian legal cannabis market alone is anticipated to reach over CDN $22.8 million by 2024.vi

Canadian legalization is yet another major positive regulatory shift for Phivida. The evolution of the regulatory landscape in United States and Canada are significant leading indicators for Phivida's entrance into widescale distribution via major retail channel partners across the USA, and through the ACMPR LP program in Canada.

Phivida CEO, Jim Bailey, applauds the US Senate approval of the 2018 Farm Bill, the HIA vs. DEA ruling as well as the recent Canadian Senate approval of recreational cannabis legalization.

"The US Senate approval of the Farm Bill opens Phivida brands to over 25,000 large format retail and national grocery, health food, pharmacy and specialty retail chains across the USA. This major regulatory shift provides a solid platform to springboard Phivida into full scale commercialization - with an early mover advantage. Phivida is now poised to be one of the first premium CBD brands to enter mainstream distribution in the USA, capturing a leadership share in the category, much like the success achieved in the early days at Redbull." Bailey said.

Phivida is now aggressively pursuing the larger US marketplace, and expansion into Canada, the UK and Japan – for a total global consumer market of over 500 million potential customers. 

Phivida Holdings Inc.

Phivida ["fiii-vee-daa"] infuses CBD derived from Hemp into functional foods, beverages and clinical health products. Phivida converts cannabinoid oils and extracts into water soluble form, enhancing bioavailability, and timed released within the body. Phivida's CBD is infused into beverages, foods and supplements containing a proprietary blend of phytonutraceuticals studied to target a range of health conditions, from chronic pain, treatment of stress and anxiety to reducing inflammation in the body. The World Anti-Doping Association's recently lifted a ban of CBD from hemp oil and the World Health Organization's recent statement supports clinical benefits of CBD for athletes and active families. Phivida is a publicly traded company listed on the Canadian Securities Exchange under the ticker symbol "VIDA". For more information on Phivida visit www.phivida.com or join our social media network @Phivida. For investor information please email us at ir@phivida.com. 




i https://www.rollcall.com/news/politics/house-gop-farm-bill-passes-compromise-with-senate-next

ii https://www.cnbc.com/2018/06/13/senate-agriculture-panel-passes-farm-bill-with-hemp-legalization.html

Sources:

iii https://www.forbes.com/sites/debraborchardt/2016/12/12/the-cannabis-market-that-could-grow-700-by-2020/#301856724be1 

iv https://globenewswire.com/news-release/2016/09/28/875315/0/en/Pain-Management-Therapeutics-Market-to-Reach-US-83-0-Billion-by-2024-Transparency-Market-Research.html

v https://www.ctvnews.ca/politics/cannabis-act-impaired-driving-changes-among-several-bills-to-officially-pass-parliament-1.3983007

vi https://www.macleans.ca/news/canada/how-big-is-canadas-marijuana-market-really

 

Cision View original content with multimedia:http://www.prnewswire.com/news-releases/us-senate-approves-the-2018-farm-bill-300674676.html

SOURCE Phivida Holdings Inc.


Company Codes: OTC-PINK:PHVAF, CNSX:VIDA


© 2018 PR Newswire. All Rights Reserved.

#content-news .main-news{color:#737373;font-size:14px;line-height:inherit;text-align:inherit}

The news, reports, views and opinions of authors (or source) expressed are their own and do not necessarily represent the views of CRWE World.


Berkshire Hathaway Inc. (NYSE: BRK.A) (NYSE: BRK.B) Reports Fourth Quarter and Full Year 2020



/assets/img/cw-stocks.png

/assets/img/wysh-jewels.png

/assets/img/hjli.png

/assets/img/Mars-Parachute-2.png

/assets/img/crweworld-podcast.jpg
Sponsored
Also read
Points International announces upsizing of previously announced bought deal financing to C$27.5 million
Global Care Capital Portfolio Company, HealthView Achieves Second and Final Earn-Out Milestone
Nurix Therapeutics Announces Pricing of Upsized Public Offering of Common Stock
ATNX BREAKING NEWS: ROSEN, A LEADING LAW FIRM, Encourages Athenex, Inc. Investors to Secure Counsel Before Important Deadline – ATNX
LDOS CLASS ACTION NOTICE: Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Leidos Holdings, Inc.
PerkinElmer Prices Offering of Senior Notes
Tribe Capital Growth Corp I Announces Pricing of $240,000,000 Initial Public Offering
INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Washington Prime Group, Inc. (WPG) on Behalf of Investors


Post on CRWE WorldSign Up for Free E-mail Updates
  • Real Estate Eagle Firm, Real Estate
  • Hancock Jaffe Laboratories, Nasdaq:HJLI, HJLI
Signup for free email updates
/assets/img/wall-street-rect2.png
/assets/img/wall-street-sq.png



Join with us
Live Traffic Feed
About CrweWorld
  • About Us
  • Privacy Policy
  • Terms & Conditions
  • Finance Disclaimer
  • Jobs
Subscribe for newsletter
3+2
Contact Info
  • contact@crweworld.com

  • P: (702) 683-8946

  • P: (702) 810-0178

  • 11226 Pentland Downs St, Las Vegas, NV 89141

Tweets by CrweWorld
Tweets by @CrweWorld
  • © 2021 crweworld.com
ad1

/assets/images/ad/crwe_tech.jpg

Your Technology Source, Your Technology Team

Server Maintenance, Web Development, Mobile Application Solutions, SEO Services and more

Contact Us: contact@crwetech.com

www.CRWETech.com

ad2

/assets/images/ad/content-delivery-solution.jpg

 

Our content delivery solution through CRWE WORLD, CRWE Press Release and CRWE Tube gives corporations and businesses a vehicle to expand their exposure

CLICK HERE FOR MORE INFORMATION

ad3

/assets/img/crwe_info.png

CRWE Info ( CRWE.Info ) provides news and updates about Crown Equity Holdings Inc. and the CRWE World platform

www.crwe.info

ad4

/assets/images/ad/crwetube.png

Share your videos. Upload your videos for free on CRWETube

www.CRWETube.com

ad5

/assets/images/ad/ad4.png

 

Place Your Ad Here! Advertise your business online on CRWE WORLD. Your Company, product, or service in front of the world!

Contact Us: contact@crweworld.com

www.CRWEWorld.com

Advertisements

/assets/images/ad/crwe_tech.jpg

Your Technology Source, Your Technology Team

Server Maintenance, Web Development, Mobile Application Solutions, SEO Services and more

Contact Us: contact@crwetech.com

www.CRWETech.com

/assets/images/ad/content-delivery-solution.jpg

 

Our content delivery solution through CRWE WORLD, CRWE Press Release and CRWE Tube gives corporations and businesses a vehicle to expand their exposure

CLICK HERE FOR MORE INFORMATION

/assets/img/crwe_info.png

CRWE Info ( CRWE.Info ) provides news and updates about Crown Equity Holdings Inc. and the CRWE World platform

www.crwe.info

/assets/images/ad/crwetube.png

Share your videos. Upload your videos for free on CRWETube

www.CRWETube.com

/assets/images/ad/ad4.png

 

Place Your Ad Here! Advertise your business online on CRWE WORLD. Your Company, product, or service in front of the world!

Contact Us: contact@crweworld.com

www.CRWEWorld.com

CRWE WORLD Advertising Services RateJoin CRWE WORLD Affiliate Program