Hemp Extraction Labs
Extraction Labs that are looking for a secure Marketplace to reach buyers of their products and sellers looking to send their hemp in for extraction directly can join the NorCal Global Commodities Exchange, or NorCal GCX.
Often, extraction labs that are looking to reach sellers of hemp products for extractions end up dealing with brokers or agents that are misrepresenting themselves to the lab as the seller, when in reality these people are simply fishing for information on the lab and gathering information such as price to bring to their potential sellers or compare them against other labs. This creates false hope for the lab believing they have a sale as a result of misrepresentation, which overall hinders the industries perception from the public when it comes to the CBD industry as a whole.
The same is true for labs that are looking to reach buyers of hemp products from the labs. The people they are in contact with may be acting as agents or brokers, not the buyer, simply fishing for information about the quantity and price of products to compare with other labs.
NorCal GCX has set in place a self regulating marketplace that only caters to vetted extraction labs and buyers and sellers of hemp products, eliminating the middle man in between. This includes the real investors who were previously going through a middle man or broker to the extraction lab facilities and to the end user of the derived hemp products; all of these business owners and individuals can now access the Extraction Lab’s products right through the GCX Exchange, which is powered by Podio.
How NorCal GCX Works
Extraction Labs that are looking to join the growing GCX Exchange Marketplace and have your profile listed inside the exchange must go through our vetting process. The vetting process consists of a $1,500 fee and is paid to NorCal GCX. A representative from NorCal GCX will visit, vet, and verify that the laboratory is in fact who they claim to be. Also included is a review of the lab and its facilities, along with proof of licenses that are uploaded into the Podio Portal.
By vetting every hemp lab who joins the NorCal GCX Exchange, it eliminates the issues labs face where brokers are posing as buyers or sellers. This is because NorCal GCX requires that anyone conducting business on the site has been verified, granting your lab access to verified buyers and sellers.
Once vetted, each Hemp Lab can join the growing GCX Exchange MarketPlace and have a vetted profile listed inside the exchange to provide potential buyers and sellers information about your Extraction Facilities.
This is similar to what the stock exchanges do when a company wants to go public and trade on an exchange. The company has to go through a filing process to provide documentation that who they claim to be, they are. On the buyers side, when someone wants to buy shares in the company stock ,a broker or dealer is in place that has the buyers information on file along with the funds so that when the buyer places an order, it is executed. Both the seller of the shares has them and the buyer has the funds to purchase them and in that moment that shares and funds change hands. NorCal GCX has streamlined a similar process for Extraction Labs for Hemp Buyers and Sellers.
To learn more please contact us today at 415-475-9180