Veritas Farms Inc (OTCMKTS: VFRM) is likely to head for the top in the market today, and for good reason. The company announced that it signed a Memorandum of Understanding, or MOU, surrounding technology designed for the clean extraction of cannabinoids from the hemp plant. Here’s what’s going on:
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VFRM Stock To Gain On MOU Surrounding Extraction Technology
In the press release, Veritas Farms said that it entered into a MOU with an international technology conglomerate. Under the terms of the MOU, VFRM will exclusively license and bring a proprietary extraction technique to the domestic United States hemp industry.
In the release, the company said that the proprietary patent-pending extraction process uses water soluble technology. This technology is used to extract the full spectrum essence of the hemp plant. This includes the extraction of cannabinoids, terpenes, and flavonoids.
Importantly, through this extraction process, the resulting product is mor easily absorbed by the human body due to a stable micro-molecular structure. As such, the process will greatly improve efficiency, sustainability, and cleanliness of the extraction process by eliminating the need for solvents.
Moreover, VFRM said that the water-based extraction offers the company an opportunity to improve its bottom line by reducing the steps and components required to extract full spectrum hemp oil.
As we speak, the extraction process is being tested in the company’s facility in Pueblo, Colorado. In a statement, Alexander M. Salgado, CEO at VFRM, had the following to offer:
The validation of this technology could potentially result in a paradigm shift in the extraction and formulation of whole hemp plant products sold in the U.S.
This Is Big News
At the moment, the extraction process across the board uses harsh chemicals like butane to draw derivatives out of the hemp plant. This has several drawbacks, including increased cost.
If all goes well, Veritas Farms will have a way to extract its ingredients from the hemp plant using nothing more than water. Should this work, not only would it greatly decrease cost, it would likely lead to a better quality product as there would be no chance for harsh solvents to be found in the end product.
All in all, this is exciting news, making VFRM stock one to watch closely.
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