LAS VEGAS, Nov. 7, 2018 /PRNewswire/ — Digipath, Inc. (OTCQB:DIGP) a service-oriented independent analytical testing laboratory and data firm focused on the burgeoning cannabis market, is pleased to announce that the company is scaling its proprietary testing services for the rapidly growing Nevada hemp industry.
Digipath Labs, Digipath’s wholly owned subsidiary, is seeing a dramatic increase in hemp production and testing necessity, creating another significant market opportunity for the well positioned, Nevada-based company.
The Nevada hemp market is a rapidly growing opportunity for the Company as some Nevada growers are expanding their production, or otherwise participating to a higher degree. An article from The Nevada Independent earlier this year affirms said boom in hemp output, reporting that Nevada has certain agricultural advantages and that Nevada hemp sells for significantly more than Colorado hemp. According to the data from the Nevada Department of Agriculture, in 2016, Nevada had its first season of hemp production. The program has grown steadily from 11 growers planting 319 acres to 63 growers planting over 718 acres in 2018. Indoor hemp production has also increased.
“Some of our hemp customers are experiencing tremendous expansion,” stated Digipath, CEO, Todd Denkin. “One of them has increased its farm from six acres to sixty acres since last year’s harvest. It’s booming and we only expect it to get better and adding hemp testing to our portfolio of services was an obvious move for us. We are uniquely positioned to leverage our local successes into a global opportunity and we are intent on being the template for Best Practices and Testing in this emerging international market.”
About Digipath, Inc. & Digipath Labs, Inc.
Digipath, Inc. supports the cannabis industry’s best practices for reliable testing, data acquisition, cannabis education and training, and brings unbiased cannabis news coverage to the cannabis industry. Digipath Labs provides pharmaceutical-grade analysis