PHOENIX, Aug. 30, 2019 (GLOBE NEWSWIRE) -- Celexus and HempWave announced today a partnership with Sucseed to support co-working/co-growing greenhouse opportunities.
Launched earlier this year, Sucseed, a division of Central Business Development, is a California-based industrial hemp incubator and accelerator. Its innovative and customizable model allows individuals and companies to lease space from “grow tables” in a cooperative greenhouse or entire greenhouse sections for larger full-term grows. This enables greater and more diverse participation in the burgeoning market for cannabis and industrial hemp by providing an alternative to highly regulated traditional investments.
HempWave equips Sucseed and its clients with expert support on everything from financial analysis tools and planning to hands-on assistance in growing operations within the greenhouses from HempWave’s master growers.
“Providing Sucseed with access to our wide network and our wealth of knowledge is a win-win for everyone,” said HempWave CEO David Soto.
HempWave supports Sucseed in a variety of business operations, drawing from its experience building joint ventures and supply chain infrastructure under the 2018 Farm Bill.
“We’re proud to help Sucseed establish itself in this flourishing industry,” said Soto. “The accelerator model is in terrific alignment with what we’ve already built, and I’m excited to see new businesses seize these opportunities to get involved in the space.”
Last week, HempWave initiated planting of industrial hemp for CBD at one of its Arizona-based joint venture farms. At harvest, HempWave will provide the farms access to the economies of scale built by its growing network over the past year.
“With the legalization of industrial hemp and the continued growth in mainstream markets of CBD-related businesses, we have a responsibility to do everything we can to help farmers get to growing in their fields while supporting the complementary services that will sprout from this, like textiles, paper, fertilizers, and pulp processors,” said Soto.
HempWave’s diverse network of business mentors provides expert advice in legal, finance, logistics, and B2B and B2C retail markets to its clients and partners. Sucseed can leverage these factors to link quality raw materials to the aspiring and experienced CBD investors looking to bring their products to market.
HempWave and Celexus
As of February 2019, HempWave has agreed to be acquired by Celexus, Inc. (OTCQB: CXUS) and operate as a wholly-owned subsidiary. It is anticipated that the acquisition will be finalized in the coming months.
HempWave is continuing to work with independent farmers in its Joint Venture Program while rolling out a Hemp Farm Loan Program to support farms where conventional lending institutions and government agencies do not.
For more information about HempWave, becoming a HempWave agricultural partner or for insights into cannabidiol or CBD-derived products, please visit www.HempWave.com or email info@HempWave.com.
About HempWave
Formed in 2018, HempWave is an Arizona-based farming accelerator and sustainability catalyst. HempWave partners with farmers across the United States to grow, cultivate, and harvest commercial-grade hemp plants and seeds for use in medicinal grade cannabidiol (CBD) and other hemp products.
Forward-Looking Statements
This press release may contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For additional information regarding such forward-looking statements, see, http://hempwave.com/forward-looking-statements/.
CONTACT:
Kyle J. Kepner, kyle@gsg.media
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/85167903-cf21-40d8-9fb1-2b7771ab73a5
https://www.globenewswire.com/NewsRoom/AttachmentNg/c9751a23-3798-4d38-8f01-ae5a5b86eb0b