NEW YORK, July 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – BioHemp International, Inc. (BKIT) (the "Company”) clarifies that in the 8-K filed on July 12th, 2019, the 25 million shares issued as part of the transaction, was completed on March 9th, 2019. No additional shares have been issued, and there has not been a material change to the Company's issued and outstanding share structure which is 28,850,700 million shares outstanding reflected on the Company's OTC Markets profile, that has been verified by the Company’s transfer agent. The current float is 3,829,700. The Company remains focused on its goal to become the leading CBD distribution platform in the market.
Daniel Blum, BioHemp International CEO, comments, "I want to reassure shareholders there has been no material change to our share structure. I apologize for any confusion created. We are committed to maximizing shareholder value through strategic acquisitions and rollups of distributors across the CBD sector. Our mission remains to become the dominant market player in the space. The Company is working diligently on potential acquisitions and I look forward to updating the shareholder community when I can share more information."
BioHemp International, Inc. is positioning itself as the market leader in the CBD market, which is expected to reach $22 billion by 2022. The Company’s rollup strategy is aimed at becoming the market leader by spearheading the natural consolidation of the industry through the creation of a distribution platform targeted at existing consumer CBD wholesalers and retailers. As the market begins to consolidate, the Company is poised to benefit from its first mover advantage.
About BioHemp International, Inc.
BioHemp International (OTC: BKIT) is a Company focused on rolling up a distribution platform for CBD providers to become the leading consolidation force in the CBD industry. For more information, view the Company's website www.biohempinternational.com
Safe Harbor Notice
Certain statements contained herein are "forward-looking statements" (as defined in the Private Securities Litigation Reform Act of 1995) cautions that statements made in this news release constitute forward-looking statements and makes no guarantee of future performance. Forward-looking statements are based on estimates and opinions of management at the time statements are made. These statements may address issues that involve significant risks, uncertainties, estimates and assumptions made by management. Actual results could differ materially from current projections or implied results. BioHemp International, Inc undertakes no obligation to revise these statements following the date of this news release. Additional details of the Company's business can be found in its public disclosures as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.
BioHemp International, Inc
244 5th Avenue
New York, NY 10001