420 Ventures Acquires Majority Stake in Le Herbe and United Hemp
SARASOTA, FL - March 7, 2016 - 420 Ventures announces today that it has acquired majority stake in Le Herbe and the United Hemp Company. Premium cannabis beverage maker, Le Herbe, will operate independently to produce, process and distribute organic cannabis products, but will no longer provide optional CBD only products. The United Hemp Company will takeover the CBD category from it's parent company and will exclusively provide these products through industrial hemp production including, but not limited to, infused beverages, nutritional supplements and soluble hemp extracts.
"This is an exciting time for the cannabis and hemp industry" said Marc LaRoche, president and chief executive officer, Le Herbe. "We decided it was in the best interest of our company to join 420 Ventures and separate THC and CBD products into two companies because the laws and regulations are very distinct. Both cannabinoids come from the same plant species and have nutritional and medicinal value, but Tetrahydrocannabinol (THC) has psychoactive effects while Cannabidiol (CBD) does not. This deal will help create hundreds of well paying jobs across the country and put America ingenuity back on the map."
The United Hemp Company is aggressively seeking independent distributors to provide products legally in all 50 states. Credit has to be given to President Obama for signing the Farm Bill of 2013 into law on February 7, 2014. Section 7606 of the act allows industrial hemp research and agricultural pilot programs, which includes sales and marketing of hemp raw materials. Section 7606 of the Farm Bill defines industrial hemp as “the plant Cannabis sativa L. and any part of such plant, whether growing or not, with a delta-9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis.”
Le Herbe is currently expanding operations into Nevada and other states like Colorado, Washington and Oregon through partnership and licensing agreements.
About Le Herbe
Le Herbe opened for business on December 1, 2014. The company is pioneering organic cannabis beverages and is guided by four principles: backed by the science of cannabis, people over profits, quality over quantity and disruptive innovation.
About United Hemp Co.
United Hemp Co. opened for business on February 22, 2016. The company is solidifying industrial hemp production in the United States and is guided by two principles: farm-to-table and organic hemp agriculture. Beverages, supplements and CBD oil are some of the products currently in development at the United Hemp Co.
About 420 Ventures
420 Ventures advises, manages and invests in the marijuana and hemp industry.