Monday April 15, 2019 0 comments
AURORA -- Organic cannabis and hemp producer Green Farms Co announced the addition of Eric MacLeod as CEO and managing partner.
The former orthopedic surgeon and CEO of Monteagle Ventures came on board with the company in February and has quickly established the corporate hierarchy with the signing of eight new company officers and the implementation of 15 contractual relationships centered around the acquisition of key assets that will be the backbone of growth for the company.
“I’m confident that the caliber of this leadership team will allow us to become a principal player in the hemp and cannabis markets,” MacLeod said.
“We’ve attracted top experts in the field because they want to get behind organic and sustainable farming practices. These practices are not only better for the environment, they result in a superior product.”
According to MacLeod, the company has met important strategic goals in the first quarter of 2019, including:
- Contractual procurement of key members of management team
- Cultivation on Colorado and Michigan farms, including greenhouse nurseries, for hemp growth and the development of proprietary genetics for hemp
- Acquired manufacturing facility for large-scale soil production
- Acquired large-scale processing facility for CBD
- Establishment of 34,000-square-foot headquarters in Aurora, Colorado
- Initiation of $40 Million Series A capital fundraising round
The hemp and cannabis industry is projected to grow exponentially in the coming years after recent full federal legalization of hemp and full legalization in 10 U.S. states of THC-containing cannabis.
CBD, the non-psychoactive cannabinoid of marijuana, has become a popular ingredient. U.S. consumer sales of CBD is projected to reach approximately $1.8 billion by 2022, up from approximately half a billion in 2018. This follows the trend of the total U.S. legal cannabis market, which is projected to be a $23 billion business by 2025, according to Statista.com.
Green Farms Co LLC cannabis was established in 2011 by J.W. Long and has approximately 1,230 acres of agricultural land and greenhouses in Colorado and Michigan.