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Hempacco "HPCO" Closes Initial Public Offering

·3 min read

San Diego, California--(Newsfile Corp. - September 1, 2022) - Hempacco Co., Inc. (NASDAQ: HPCO) ("Hempacco" or the "Company"), a vertically integrated hemp manufacturing company, today announced the completion of its initial public offering of 1,000,000 common shares at a price of $6.00 per share to the public for a total of $6,000,000 of gross proceeds to the Company (the "Offering"), prior to deducting underwriting discounts, commissions, and other Offering expenses.

The Company has listed its common shares on The Nasdaq Capital Market, effective August 30, 2022, under the symbol "HPCO".

Boustead Securities, LLC acted as the sole underwriter for the firm commitment Offering.

A registration statement on Form S-1 (File No. 333-263805), as amended, filed by the Company with the Securities and Exchange Commission (the "SEC"), was declared effective on August 29, 2022. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Hempacco

Hempacco Co., Inc.'s goal is Disrupting Tobacco's™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brand.

Hempacco's operational segments include:

  1. Manufacturing of smokables and hemp rolling paper

  2. Smokable technology development

  3. The Real Stuff™ brand of functional smokables and rolling paper

Learn more at www.hempaccoinc.com

Order products at www.realstuffsmokables.com

Safe Harbor Statement

This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.

For investor inquiries, please contact:

Dave Gentry
RedChip Companies Inc.
1-800-RED-CHIP (733-2447)
Or 407-491-4498
HPCO@redchip.com

For underwriter inquiries, please contact:

Boustead Securities, LLC
Daniel McClory
Tel: +1 949 502 4408
Email: dan@boustead1828.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/135769