Toronto, Ontario--(Newsfile Corp. - February 28, 2019) - Gunpowder Capital Corp., (CSE: GPC), (CSE: GPC.PR.A), (OTCQB: GNPWF), (FSE: YS6N), ("Gunpowder" or the "Corporation") is very pleased to announce that it has entered into a strategic relationship with Hemp Inc., (OTC Pink: HEMP) of Las Vegas Nevada with the purpose of entering into the Industrial Hemp industry in the United States.
Under the terms of the agreement, Hemp Inc., and Gunpowder will both make strategic investments in each other and then explore various opportunities in the United States that Hemp Inc., will be bringing forward to Gunpowder.
Hemp Inc., will immediately issue to Gunpowder Twenty Four Million ("24,000,000") Common Shares of Hemp Inc., and Gunpowder in return shall issue Fifteen Million ("15,000,000") Common Shares of Gunpowder to Hemp Inc.
The two partners have already started exploring various opportunities and the two parties may make additional investments in each other based on the success of the relationship.
Mr. Paul Haber stated: "We are extremely pleased to have entered into this strategic relationship with Hemp Inc. The 2018 Farm Bill changed federal policy regarding industry hemp, including the removal of hemp from the Controlled Substances Act and the consideration of hemp as an agricultural product. Because of this, we see industrial hemp becoming a huge market in the USA with multiple applications. We have watched industry space for some time, waiting for the appropriate time to enter this lucrative and fast growing market. We have chosen Hemp, Inc. to speed our entry into the US market with its potential benefits to our shareholders."
About Hemp Inc.
Hemp, Inc. (OTC Pink: HEMP) was founded in 2008. The company's long-term goal is to be the leader in the industrial hemp industry in America, which is now estimated to be over $500 Million. Hemp, Inc.'s mission is to provide green solutions that help make the world a better place to live. We support products that are eco friendly, organic, healthy, and solutions that replace many petroleum-based products. In a forward thinking move, Hemp, Inc.'s wholly owned subsidiary Industrial Hemp Manufacturing, LLC purchased the largest decortication plant in North America, which is located in Spring Hope, North Carolina. The plant is housed in an 85,000 square foot warehouse. For more information please visit www.hempinc.com.
About Gunpowder Capital Corp.
Gunpowder Capital Corp., is a merchant bank and advisory services firm based in Toronto, Ontario, Canada. Gunpowder invests in both publicly traded and private businesses that have successful management teams and attractive economic models. Gunpowder partners with these businesses to support their growth initiatives with its proven methodology of appropriate financing and structured exits. Gunpowder offers debt financing, including mezzanine and bridge loans, equity financing and advisory services. Gunpowder is also building a portfolio of companies in which it takes a long term position and view. For more information please visit www.gunpowdercapitalcorp.com.
For further information please contact:
Mr. Frank Kordy
CEO & Director
Gunpowder Capital Corp.
T: (647) 466-4037
Mr. Paul Haber
Gunpowder Capital Corp.
T: (416) 363-3833
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.
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