Figr working with farmers to produce industrial hemp to be used in CBD products
TORONTO, Nov. 6, 2019 /CNW/ – Figr, Inc., a vertically-integrated legal cannabis company, today announced the Figr Craft Cultivator program after recently receiving its Industrial Hemp License from Health Canada. Under the license, Figr and its subsidiaries, can cultivate, process, import, export and sell industrial hemp consumer goods in the rapidly growing cannabis and CBD markets across Canada.
“We partner with reputable and experienced farmers,” said Harvey Carroll, President, Figr. “Through the Figr Craft Cultivator program, we are continuing to expand our network of local farmers and work in tandem with them to produce consistent, reliable and high-quality industrial hemp. CBD will be extracted from this industrial hemp and used in our future CBD products to be sold here in Canada.”
Figr Norfolk, Figr’s wholly owned subsidiary, is currently collaborating with Canadian farmers in Southwestern Ontario, near its facility in Simcoe, Ontario, and has assisted them in securing their individual industrial hemp cultivation licenses.
Growers successfully harvested the program’s first hemp crop in October and have already begun planning for the 2020 crop cycle.
In addition to producing industrial hemp, the Figr Craft Cultivator program helps local farmers diversify their crop portfolios and gain entry into the CBD industry. The participating farmers have planted tens of thousands of cannabis plants to be used in CBD-based products. In the future, Figr intends to expand the program significantly in Canada with the addition of other local farmers.
“Local farmers are at the heart of everything we do, which is why it is important to us that we support our partners in the communities in which we operate,” said Carroll. “Through this program, we’ll be with these farmers in Canada every step of the way to equip them with the agronomic knowledge, cultivars, inputs and best practices they need to successfully navigate industrial hemp cultivation.”
Consumer products developed using the industrial hemp grown from the program will be tracked through a proprietary traceability platform, SENTRISM, which allows consumers to trace their product from source-to-sale. Figr is exploring its innovation pipeline to identify possible opportunities to bring industrial hemp-derived CBD products to the market with yields from the Figr Craft Cultivator program.
About Figr, Inc.
Figr is a vertically integrated legal cannabis company headquartered in Toronto, Ontario, that operates under one sole purpose: to put character into everything it does. Figr cannabis is sourced from the company’s two licensed subsidiaries located in Charlottetown, Prince Edward Island, and Simcoe, Ontario. Figr is a wholly owned indirect subsidiary of Pyxus International, Inc. (NYSE: PYX). For more information, visit www.figr.com.
SOURCE FIGR Inc.