Leading CBD brand launches Gorilla FarmCo division to plant, grow, harvest and process hemp for use in Green Gorilla products
LOS ANGELES, Aug. 30, 2018 – Green Gorilla™, a leading manufacturer and brand of cannabidiol (CBD) products, has launched Gorilla FarmCo to manage its newly established hemp-growing operations. The new company will be a division of Green Gorilla.
Gorilla FarmCo will oversee the seed genetics, planting, organic growing and harvesting of hemp plants on an initial West Coast location of 80 acres scalable to 1,000+ acres with the first harvest due in late 2018. The organic hemp biomass will be processed using state of the art, proprietary CO2 extraction as well as new prototype organic procedures to extract the CBD used in Green Gorilla’s line of CBD products for humans and pets. The company will also be developing additional, unique biodegradable products from the remaining hemp biomass. Gorilla FarmCo will sell CBD and hemp byproducts to other companies for use in a variety of products.
“Green Gorilla will now be one of the only nationally distributed brands offering consumers USDA Certified Organic seed-to-shelf products,” said Steven Saxton, founder and CEO of Green Gorilla. “We have established a scalable operation that will enable us to increase CBD production based on manufacturing needs to bring consumers superior CBD products. The company will be in control of the genetics and the biomass, ensuring the highest quality organic seed-to-shelf CBD products.”
Saxton will serve as the CEO of Gorilla FarmCo, and Kemper Burt has been appointed president. Burt is a biologist and has extensive experience in soil and nutrient sciences and is also managing director of Green Gorilla division MasterGrower which will provide organic, biodynamic soil and nutrients for FarmCo growing operations. Av Singh, Ph.D., P.Ag, a noted expert in the growing and harvesting of hemp, will serve as chief science officer.
Green Gorilla’s overall revenue for the first half of 2018 increased 275 percent from the same period in 2017, while expenses only increased 150 percent. The company’s revenue for 2017 increased approximately 500 percent from 2016, with a minimal 5 percent increase in expenses. Green Gorilla’s U.S. operations are cash flow positive with the company expecting even greater profitability for the second half of 2018 as regulators continue to ease restrictions on the production, distribution and sales of CBD products across the country due to soaring consumer demand.
Green Gorilla™ is an international brand in the hemp and cannabis industries and a leading manufacturer of cannabidiol (CBD) organic supplements, topical, pet and horse care products using GG BioEnhanced Complex™ for the highest bioavailability. The company markets its supplements and topical products under the brand Hemp & Olive™ and its organic biodynamic agricultural products for the cannabis industry under the Master Grower™ brand. Green Gorilla™ was established in 2013 by founder Steven Saxton. Green Gorilla™ products are sold at 1,000+ retailers in the U.S. and online.
FORWARD-LOOKING STATEMENTS: This press release may contain certain 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. Readers are cautioned that all forward-looking statements contained herein are reasonable, any assumption could be inaccurate and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion should not be regarded as a representation by the Company or any other person that the objectives and plans of the Company will be achieved.