MYM Nutraceuticals Inc. and their partner, Elite Ventures, have acquired 1.6 million seeds with CBD levels of 10%-20% from the recently built, state-of-the-art, 57,600 square foot nursery owned by CROP in Nye County, Nevada.
The newly built nursery is equipped with trays and LED lighting specially designed to enhance the growth of plant starts for the 2019 CBD farms licenced on CROP’s various properties in the state. This was a key project in order to maximize yield, reduce farming risk and costs for the 2019 planting season.
The global medical cannabis market value is expected to reach a value of US$ 45.4 Billion by 2024, with a CAGR of 22.9% during 2019-2024, according to IMARC research. The firm’s estimate for last year was that it would to reach US$ 13.4 Billion.
“With 1.6 million seeds purchased and being prepared to be planted, our 2019 grow season is nearly underway,” said Howard Steinberg, CEO of MYM. “The Nevada project is a key component in our strategy to create a massive CBD-rich hemp footprint around the globe with the goal of becoming one of the largest cultivators and bulk CBD isolate suppliers in the world.