Freedom Leaf To Open CO2 Supercritical Extraction Facility In Las Vegas for CBD Oil Production From Local Hemp Farmers Under Nevada’s New Law; State Cultivation Expected to Double Next Year; A Showcase for NuAxon Equipment
Freedom Leaf Anticipates Strong Revenue Streams from CBD Oil Production and NuAxon CO2 Supercritical Extraction Equipment Sales
LAS VEGAS, NV–(Marketwired – Jul 10, 2017) – Freedom Leaf, Inc. (OTCQB: FRLF) The Marijuana Legalization Company, is pleased to announce that it has agreed to purchase CO2 Supercritical Extraction equipment for legal hemp CBD extraction from NuAxonTech, the producer of world class, large capacity Co2 Supercritical Extraction equipment.
Clifford J. Perry, Freedom Leaf CEO, explained, “As part of our strategic business model, the equipment will be installed in Las Vegas this week and will be used by Freedom Leaf to process locally grown raw (low THC, less than .03) industrial hemp from this year’s harvest into cannabinoid (CBD) extracts for the booming Nevada cannabis/hemp market. It may also be used to process EU Certified rare cannabinoid Hemp from Freedom Leaf’s own newly acquired production facilities in Spain.”
In a previous press release, Perry stated, “With this transformative acquisition in Spain, Freedom Leaf has become a major participant not only in the booming CBD (cannabidiol) industry, but in many other aspects of the global hemp industry. Current product development projects include research into rare cannabinoids, CBD drinks, phytocannabinoid oil, hemp seed oil, hemp fabric for footwear and furniture, etc…”
In addition, the facility will also be used as a showcase for NuAxon’s CO2 Supercritical Extraction equipment. Freedom Leaf is NuAxon’s exclusive global distributor for the cannabis/hemp industry, and it expects prospective buyers from around the world to come to Las Vegas to see how the equipment works.
The Las Vegas Sun reported Friday July 7th that Russell Wilhelm, the Nevada Department of Agriculture Industrial Hemp Program Manager, says the state is setting up the new industrial hemp regulations and hemp production is expected to double in Nevada this year and is projected to keep growing with the Legislature’s passage of Senate Bill 396, which allows for industrial hemp farming, testing and selling. Last year, Nevada had only 250 acres in production, while Colorado had over 9,000 acres.
“With the passing of SB396, we actually have the opportunity to now start producing industrial hemp seed in the state of Nevada, one, and then two, the other significant opportunity after that is going to be the ability to sell industrial hemp-based products in retail venues in the state,” Wilhelm said.
The Sun quotes a local hemp farmer saying that Nevada needs to beef up its industrial-level processing. Much of last year’s yield went unused, or had to be sent out of state to be processed.
NuAxon Tech, the manufacturer of large capacity CO2 Supercritical Extraction units, has 17 years of experience in extraction process technology and manufacture of large capacity extraction units over other comparable units, which will serve as a huge plus for Freedom Leaf Inc.
According to NuAxon Tech, CO2 extraction is “the best method of extracting therapeutic compounds from a plant. When CO2 is captured and compressed it becomes a lipophilic solvent. It is exceptional and efficient at retrieving the oils and fats from plants, some herbal extractions are as concentrated as 250 to 1.” With proprietary “high flow rate pump” reducing processing time to “as low as 90 minutes per batch”, NuAxon’s CO2 Supercritical Extraction unit can deliver a much higher output than competitive brands.
About Freedom Leaf
Freedom Leaf, Inc., The Marijuana Legalization Company™, is a fully reporting and audited, publicly traded company trading under the symbol (OTCQB: FRLF). Freedom Leaf, Inc. is a leading go-to resource in the cannabis, medical marijuana, and industrial hemp industry. It is involved in mergers and acquisitions in the marijuana industry, including incubation/acceleration and spin offs of new marijuana/hemp related companies.
Freedom Leaf Inc.’s flagship publication is Freedom Leaf Magazine, The Good News in Marijuana Reform. The company produces a portfolio of news, print and digital multi-media verticals, websites, and web advertising, for the ever changing emerging cannabis, medical marijuana and industrial hemp industry.
Safe Harbor Statement
Statements in this press release that are not strictly historical are “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by phrases such as Freedom Leaf, Inc. or its management “believes,” “expects,” “anticipates,” “foresees,” “forecasts,” “estimates” or other words or phrases of similar import. Similarly, statements herein that describe the Company’s business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Factors that could cause or contribute to differences include the uncertainty regarding viability and market acceptance of the Company’s products and services, changes in relationships with third parties, and other factors described in the Company’s most recent periodic filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K dated June 30, 2016 and quarterly reports on Form 10-Q.
IR and Business Development Director
Freedom Leaf, Inc.
3571 East Sunset Road
Las Vegas, Nevada 89120