Oxford Investments Holdings Inc.: Pioneer Green Farms Commences Florida Hemp Cultivation
Toronto, Ontario--(Newsfile Corp. - June 12, 2020) - Oxford Investments Holdings Inc. (OTC Pink: OXIHF) ("Oxford" or the "Company") is pleased to announce that its Florida-based subsidiary, Pioneer Green Farms LLC. ("Pioneer Green"), has commenced hemp cultivation operations in Florida. Drymon's Citrus Nursery ("Drymon's") of Sarasota, Florida, has been granted a hemp cultivation license by the Florida Department of Agriculture and Consumer Services, Plant Division. Pioneer Green has a license agreement with Drymon's, whereby Drymon's is the license holder and will operate the project on behalf of Pioneer Green.
Cultivation will commence immediately at the Pioneer Green farm property near Sarasota, which currently has four 30ft x 100ft greenhouses specializing in clone production. The Company plans to build an extraction plant on the site, which will produce full spectrum CBD oil. It is expected that once hemp cultivation is fully operational, each greenhouse could produce three crops per year. The immediate plan is seeding, cloning and cultivation. Under the terms of the State license, all hemp cultivation plots are to be sampled for THC content within 15 days of harvest, hemp cultivation must follow the environmental containment and transportation plan that was submitted with the application, and Drymon's must reapply for a license to cultivate hemp in Florida after 12 months of receiving its certificate.
Clones are rooted cuttings that are genetically identical to the plant they were taken from. Through cloning, you can create a new harvest with exact replicas of your best performing plants, which can provide a level of consistency, stability and sustainability.
"We are excited to finally begin our hemp farming operations in Florida. This will be a major component in our strategy of building a fully vertically-integrated seed-to-shelf hemp-based CBD company. Our plan is to create specific genetic strains of high quality hemp that will have a high degree of consistency and can lead to significantly higher profit margins. Any excess product that we can't use in our CBD production, we plan to sell to other growers and CBD producers," stated Michael Donaghy, President of Oxford. "The current ongoing Covid-19 pandemic has had a devastating effect on the overall economy and the hemp-based CBD industry in particular. Fortunately for Pioneer Green, we can use this downtime to grow and test our initial clone crop and prepare for when the economy returns to normal."
Oxford Investments Holdings Inc.
About Oxford Investments Holdings Inc.
Oxford Investments Holdings Inc., is building a vertically-integrated hemp-based CBD business. Its Florida-based subsidiary, FloraCana Consultants Inc., is marketing the sale of CBD store franchises and license agreements throughout the United States under the "Pioneer Green USA" brand. The Company currently has three licensed stores operating in Florida and plans to expand into Canada once Health Canada legislation around hemp-based CBD is established. Its online CBD sales division, Lyf Partnerships LLC, is engaged in the sale of a variety of "Lyf" branded hemp-based CBD products through its website as well as other online distribution channels. Oxford's Pioneer Green Farms LLC subsidiary is engaged in hemp cultivation in Florida.
FORWARD LOOKING STATEMENTS DISCLAIMER:
Statements in this press release, which are not historical, are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties including, without limitation, risks associated with the Company's financial condition and prospects, legal risks associated with product liability and risks of governmental legislation and regulation, risks associated with market acceptance and technological changes, risks associated with dependence on suppliers, risks relating to international operations, risks associated with competition and other risks detailed in the Company's filings with securities regulatory authorities. These risks may cause results to differ materially from those projected in the forward-looking statements.
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