Earth Life Leases Land to Grow Hemp

Earth Life Sciences Inc (OTC:CLTS) has put its best forward to improve its competitive position within the hemp industry. The Reno, Nevada-based company announced Wednesday it’s agreed to lease land and joint venture the building of capital improvements for the propagation of cloned hemp plants to be raised for fiber, food and CBD oil contained within.

"Hemp," the company is quick to distinguish, "is not pot. It is a miraculous plant with life giving health benefits usable in over 25,000 clean, green industrial products. Hemp, cloned and cultivated can be a very lucrative crop."

Moreover, the company points out, farmers with modern sophisticated equipment who really know what they’re doing can raise hemp with 10% CBD content with an estimated market value of $25 to $35 per pound with a yield of one pound per plant and up to 2,500 plants per acre. That's around $60,000 per acre.

The company plans to joint venture with several native families and manage approximately 6,000 acres of Hemp by 2022.

The sky is the limit, as far has this company is concerned, "Estimated gross income could exceed $300 million."

Back to numbers a little closer to Earth, shares in Earth Life gained 34-100ths of a cent, or 44.7%, to 1.1 cents, on volume of 231,000.