Vancouver, British Columbia--(Newsfile Corp. - October 1, 2019) - BOUGAINVILLE VENTURES INC. (CSE: BOG) (OTC Pink: BUGVF) (FSE: 8BV) (DEU: 8BV) (MUN: 8BV) (STU: 8BV) ("Bougainville" or the "Company") is pleased to announce that harvesting on the Oregon Hemp farms has begun. The hemp farm in Oregon has a crew of 20 people harvesting 28,000 plants and will be completed over the next couple of weeks.
The Worm Casting team has arranged for drying of the bio-mass with a local drying facility close by while our 15,000 Sq ft., drying facility is being built. Once processed, it will be sold along with the 28 kg of distillate CBD oil that was processed by Dab Extraction Associates a mobile extraction company earlier this year.
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Andy Jagpal, President Comments:
"The hemp Industry in Oregon is booming and so is the demand for CBD. According to an Oregon based Hemp publication there were little over 580 growers, and 11,500 acres growing Hemp registered in 2018. This year, there are 1,900 growers, and nearly 63,000 acres registered growing hemp. The Hemp market is bigger than the medical marijuana and recreational marijuana put together, and as the Baby Boomers are just now discovering the benefits of CBD the demand for Hemp has an aggressive growth curve that is just beginning."
To learn more about what this news means to the shareholders visit https://marketnewsfirst.com/bog-news
About the Hemp Market
In 2018, the legal cannabis market was valued at $11.9 billion in the United States and is expected to be worth $66.3 billion by the end of 2025, which is a compounded annual growth rate of nearly 24 percent, according to Market Research.
About Bougainville Ventures, Inc.
Bougainville Ventures Inc. is dedicated to rapid growth in production, processing, retail and branding of cannabis and cannabis related products. Currently the company provides strategic capital to the thriving cannabis cultivation sector through ownership and development of commercial real estate properties. We offer fully built out turnkey facilities equipped with state-of-the-art growing infrastructure to cannabis growers and processors.
Also, the Company is focused on building a strong presence in the hemp industry with the objective of extracting cannabinoids in both Canada and the United States. Along with our flagship Hemp project in Oregon State and the Greenhouse campus in Washington state, the Company has proprietary formulas for cannabis edibles, topical, and tinctures.
On behalf of the Board of Directors
BOUGAINVILLE VENTURES INC.
Andy Jagpal, President and Director
For further information, please contact Zoltan, IR Representative at: 604-722-0305 firstname.lastname@example.org. Or toll free at 1-877-517-7816
FORWARD LOOKING STATEMENTS: This news release contains certain forward-looking statements within the meaning of Canadian securities laws. Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
No regulatory authority has approved or disapproved the information contained in this news release.