October 22, 2014

American Seed & Oil Company Harvests Largest Legal Hemp Crop In Vermont In Over 60 Years

Yahoo! Finance
Algae International Group, Inc. (ALGA), through its operating subsidiary American Seed & Oil Company, Inc., announced today the harvest of the largest legal hemp crop in Vermont in over 60 years.

Harvesting efforts continued late into the night.

In June 2014, Vermont signed into law a bill that legalizes the cultivation of hemp, a relative of marijuana, for the first time since 1937. Proponents of the new law say hemp could be a lucrative value-added crop for Vermont farmers.

American Seed & Oil contracted two State licensed growers for the development of its hemp production, with its first ever harvest just completed. The Company plans to utilize the harvest to build a legal seed depository and for the seeding of its own 2015 one-thousand acre hemp crop goal.

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