- Cannabis company, Benchmark Botanics (CSE:BBT) has signed a cooperative agreement with the China Bast and Leaf Fibres Textile Association
- The CBLFTA’s members includes farmers, processors, manufacturers, researchers, entrepreneurs, and marketers from China’s hemp industry
- The agreement involves researching, developing, and promoting products and commercial applications for the cannabis/hemp industry
- This includes research projects, educational and promotional activities, and the creation of an incentive and rewards program
- Benchmark Botanics’ share price remains unchanged at $0.35 per share
Cannabis company, Benchmark Botanics (CSE:BBT) has signed a cooperative agreement with the China Bast and Leaf Fibres Textile Association.
The CBLFTA is a national organisation, with over 300 members representing every entity involved in the Chinese hemp industry. These members include farmers, processors, manufacturers, researchers, entrepreneurs, and marketers.
The association’s main purpose is to liaise with governments and stakeholders, for the benefit of the hemp sector. It works to develop policies and standards, to spread information, coordinate research, implement marketing, and promote the use of industrial hemp.
Benchmark’s agreement with the CBLFTA is for research, development, and promotion of products and commercial applications within the cannabis/hemp industry. This collaboration will generate research projects, educational and promotional activities, and a rewards program.
Benchmark will create the rewards program to act as an incentive for contributors. The projects and activities will examine, explore, and endorse patents, standards, technologies, applications, and products within the hemp industry.
Benchmark Botanics’ CEO, William Ying, commented on the cooperative agreement.
“In addition to our core competence in medical and adult-use cannabis, Benchmark further recognizes the vast commercial value of hemp fibre and its by-products.
“Partnering with an organization that represents China’s fibre industry, and understands all aspects of hemp product development, will provide Benchmark Botanics with significant advantage in China’s market.
“I am pleased to foresee this cooperation paving the way for long-term success and fulfil Benchmark’s vision of setting the benchmarks for the industry,” he added.
Benchmark Botanics’ share price remains unchanged at $0.35 per share, as of 11:18am EDT.