Goldenseed diversifies into hemp world with new acquisition

California lifestyle cannabis brand acquires top-of-the-line processing facility to move the needle in the hemp industry

Goldenseed, a Santa Cruz-based cannabis company that strives to be the premier brand of sustainable and natural cannabis products in California, today announced the acquisition of Hilltop, an impressive plant processing facility in Monterey County. Hilltop was formerly known as Golden State Bulb and was one of the largest processors of calla lily bulbs in the world. Hemp is a cannabis plant that contains less than 0.3 percent THC (the psychoactive element of the plant) and has an incredibly diverse number of uses. In addition to being used to produce CBD products for medicinal purposes, hemp is also used in cosmetics, soaps, shampoos, textiles, plastics, fuel, food, cigarettes, drinks, and building materials.

"Hemp has been around for thousands of years, and some say it can be made into 25,000 products," said Scott Goldie, chief executive officer of Goldenseed. "George Washington and Thomas Jefferson both grew hemp, and Benjamin Franklin processed the plant. It's an amazingly versatile crop."

Goldenseed's Hilltop facility contains approximately 170,000 square feet of greenhouse space, and approximately 80,000 square feet of climate-controlled curing and warehouse space. Goldie noted that the Hilltop facility will allow Goldenseed to process hemp from other cultivators, in addition to his company's crops. "A hemp facility like Hilltop is really the pinch point in the industry as some growers have hemp rotting in the field because they have no place to take it," said Goldie.

As one of the first licensed hemp growers and breeders in Santa Cruz County, Goldenseed just took in a harvest of more than 50 acres (between 40,000 and 60,000 pounds) of hemp to be processed at Hilltop. In the near future, this enterprise will expand to include hemp cigarette manufacturing under a proprietary brand. "The exceptional facility at Hilltop has the potential to keep Goldenseed at the forefront of the cannabis and hemp industries, and we're excited to be a part of the innovation," said Goldie "We look forward to establishing our presence in the hemp world and expanding our line of top-quality products."

Goldenseed's Chief Operating Officer and Lead Cultivator, J.R. Richardson, grew up tending cannabis and hemp plants in Humboldt County and Santa Cruz, and is known for his passion for developing unique, proprietary plant genetics related to both CBD and THC varietals. Richardson has been at the forefront of hemp breeding, registering 11 unique proprietary cultivars with the California Department of Food and Agriculture. These cultivars are bred for the Northern California micro-climate and are high in CBD content and rich in terpene profiles, which provide the smokable version of the plant with unique aromas and flavor.

At the Hilltop facility, Goldenseed plans to process hemp to sell on a wholesale and retail basis—including seeds, clones, biomass, smoke-able flower, full-spectrum crude oil, terpenes, and eventually: Goldenseed-branded hemp cigarettes.

For more details on Goldenseed and its products, please visit www.gseed.com.

About Goldenseed

Goldenseed, a California lifestyle cannabis and hemp brand, focuses on the cultivation, manufacturing and distribution of high-quality cannabis and hemp naturally grown in Santa Cruz, California. Deeply rooted in the California culture of artists, surfers, innovators, and diverse communities, Goldenseed aims to deliver quality products to a discerning clientele.