NEW YORK, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – HempAmericana, Inc. (HMPQ) (“HempAmericana” or the “Company”), an emerging leader in the CBD products market, is excited to announce that the Company has agreed to terms with an Emerging Hemp distributor of Florida for an initial purchase of 27 kg of white-label bottled CBD Oil at a rate of $6,500/kg, representing the initial purchase order in a continuing supplier relationship.
The purchase order also contains specified terms for bottling and delivery of CBD Oil products. The Hemp distributor has agreed to pay HempAmericana $3/bottle for providing and employing bottling materials to produce 30 ml bottles of CBD Oil in MCT oil base, with each bottle containing 750mg, 1000mg, or 1500mg of CBD Oil, as specified by the Hemp distributor.
The Hemp distributor has also agreed to provide all labeling and packaging materials and will cover all shipping charges associated with product delivery. In return, to document compliance with Federal regulations, HempAmericana has agreed to provide a Certificate of Analysis and Batch Number for each batch of CBD Oil produced and provided in fulfillment of the contract.
“We see tremendous promise in this new relationship with this Hemp distributor,” commented Salvador Rosillo, CEO of HMPQ. “Now that we are ramping up production at our Maine facility, we anticipate a steep sales growth curve through the remainder of the year, leveraging both our proprietary label distribution and white label supplier relationships like this one. Only a fraction of the total addressable market for CBD products has been tapped, but increasing adoption by mainstream consumers suggests the wick has been lit.”
Management agrees with the majority of sell-side analysts and researchers in the guiding premise that the CBD marketplace is set to continue to operate in “boom” conditions for a considerable period in the quarters ahead given the acceleration in mainstream adoption of CBD-based products by US consumers thus far in 2019.
“One of the best decisions we made last year was outfitting our primary production facility with the capacity to produce heavy volume output,” continued Mr. Rosillo. “Our extraction and production line equipment is likely going to be put to the test in the months ahead. I have full confidence we will be able to keep pace with demand as we ramp up our pace.”
About HempAmericana, Inc.
HempAmericana is an emerging leader in the CBD products market. The Company owns and operates a high-capacity, state-of-the-art CBD extraction and processing facility located in Augusta, Maine. This facility is armed with a supersized supercritical CO2 extraction system, centrifugal partition chromatography refinement technology, and a mechanized fully-automated CBD bottling system. HempAmericana also owns and operates Union Farm, a high-potency CBD strain development facility located in Union, Maine. The Company’s CBD oil business uses the brand designation, “Weed Got Oil”. HempAmericana also researches, develops, and sells products made of industrial hemp, including a popular brand of hemp rolling papers marketed under the brand name, “Rolling Thunders”. See more at www.hempamericana.com.
Safe Harbor Provision Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review Hemp Americana annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligaton to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state.
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