The cannabis industry waits these days with bated breath for word from government officials on the U.S. Federal Hemp Program.
Among them was Fort Lauderdale, Fla-based VPR Brands LP (OTC:VPRB), a multi-vertical tiered technology holding company in the cannabis space including vaping. The announcement from the U.S, Department of Agriculture (USDA) is timed in advance of the 2020 planting season and should guide producers with a framework for their activities.
“We would expect to be issuing the interim final rule here within the next couple of weeks,” USDA deputy secretary Stephen Censky said in his testimony to the Senate Agricultural Committee. “We have been working in the interagency clearance process for over 90 days, working with some of our federal colleagues through the [White House Office of Management and Budget] process to get input there.”
Censky also said that the committee is nearing the end of that process. The smart money has a decision being just weeks away.
Shares in VPRB sprinted 0.7 cents, or 18.4%, to 4.5 cents early Wednesday afternoon, on volume of more than 69,000 shares.
