Fort Lauderdale, FL, Dec. 14, 2018 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — SanSal Wellness Holdings, Inc. (“SanSal Wellness” or the “Company”) (OTC PINK: SSWH), a vertically-integrated agribusiness focused on producing full spectrum natural phytocannabinoid-rich industrial hemp extracts, is pleased to report to shareholders that both the U.S. Senate and House of Representatives have overwhelmingly approved the passage of the 2018 Farm Bill which contains provisions for the legalization of industrial hemp at the federal level with its removal from the Controlled Substances Act and making it a regular agricultural crop. With wide bipartisan support, President Trump is expected to sign the historic new Farm Bill into law before year-end.
Alexander M. Salgado, CEO and co-founder of SanSal Wellness, commented, “For the SanSal Wellness farm and processing operations and our Veritas Farms brand of full-spectrum hemp extract products, the importance and momentum boost of this news cannot be understated. Following approval from the Senate and now the House, the signing of the 2018 Farm Bill into law will finally bring an end to the legal uncertainties regarding industrial hemp and enable all American farmers to grow, harvest, and produce industrial hemp products just like any other agricultural commodity as we once did very successfully for more than a century prior to 1937. We expect this to be a huge win for American farmers, the Company, and the entire hemp industry.”
Industry experts forecast that legalization will be a catalyst for mainstream awareness and acceptance of industrial hemp uses and products, and potentially could drive sector revenue growth in excess of $20 billion annually by 2022.
“From a business opportunity perspective, with industrial hemp now treated like any other agricultural product, we expect several key roadblocks that have slowed growth to be removed, namely free access to the federal U.S. banking system, unrestricted interstate commerce, access to federally backed farm support programs, and the ability potentially leverage more mainstream online and brick-and-mortar distribution channels like Amazon, Walmart, and countless drug stores, medical offices, and wellness clinics across the country.”
Mr. Salgado concluded, “We’ve spent the last two years building up SanSal Wellness operations, team expertise, and branding to become one of the leading fully-integrated full spectrum industrial hemp extract companies in the country. Now that this historic Farm Bill legislation is set to become law, we are strongly positioned to push forward with our growth and expansion plans at full speed. It’s a great time to already be firmly established in the industrial hemp sector and a SanSal Wellness shareholder.”
SanSal Wellness and Veritas Farms™ brand full spectrum hemp extract products include vegan capsules, tinctures, formulations for sublingual applications and infused edibles, lotions, salves, vape oils and pre-filled vape cartridges, and oral syringes in a variety of size formats and flavors. All SanSal Wellness and Veritas Farms™ brand products are third-party laboratory tested for strength and purity.
About SanSal Wellness Holdings, Inc.
SanSal Wellness Holdings, Inc. (OTCQB: SSWH) is focused on producing superior quality, whole-plant, broad spectrum phytocannabinoid-rich hemp oils and extracts. SanSal Wellness currently operates a 140-acre farm and production facilities in Pueblo, Colorado, and is registered with the Colorado Department of Agriculture to grow industrial hemp. SanSal Wellness sells products under its Veritas Farms™ brand and also manufactures private label products for a number of leading distributors and retailers. The Company files periodic reports with the Securities and Exchange Commission, which can be viewed at www.sec.gov.
Cautionary Language Concerning Forward-Looking Statements
This SanSal Wellness Holdings, Inc. press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the Company’s mission statement and growth strategy, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve many risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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