NEW YORK, Jan. 02, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HempAmericana, Inc. (HMPQ) (“HempAmericana” or the “Company”) CEO issues the following letter to Shareholders:
Dear Valued Shareholder,
First off, we wish to applaud members of the US House of Representatives and US Senate, as well as the President, for signing the 2018 Farm Bill into law last month.
The removal of hemp from federal prohibition under the Controlled Substances Act of 1970 (CSA) will, according to all analysis we have received, indeed mean a broad expansion in the scale and scope of the total U.S. hemp industry. And experts expect this to have a disproportionately positive impact on growth in the hemp-derived CBD products market segment (see new New Frontier Data’s Hemp Business Journal estimates, for example).
That brings us to our next major point today: HempAmericana will be at full production before the end of this month (January 2019) at our state-of-the-art CBD extraction and production facility in Augusta, Maine.
We will be accepting delivery and coordinating installation on both of our new pieces of critical equipment this month: the Pilot 15 distillation machine and the Kannamill 4 grinding machine. The grinding machine is already out for delivery and will double our overall production capacity once installed.
These deliveries were originally expected in December, but factors out of the Company’s control, including holiday scheduling, have pushed back the timeline into this month. But everything is now on track for delivery, installation, and the start of full-scale production of 99% pure CBD during January.
Shareholders should also be aware of our recent upgrade to our security system at our Augusta facility. We are going to be processing a commodity that has an extremely high value per unit weight. The technology we now have in place at our facility has a very high value in itself. But it will be put to use to churn out some of the finest CBD produced anywhere. As such, we have invested in ramping up our security infrastructure to eliminate the potential for serious adverse events in the production process due to criminal incursion.
Finally, we have been clear in our “Big Picture” plans along the way. But for new shareholders, we will circle back around: Our operations in Maine have always been conceived of as a pilot program to establish the viability of our unique approach to the production of industry-leading CBD quality in a highly organized and streamlined operation.
The establishment of full-scale production in Maine is our springboard for moving to Phase 2 of that Big Picture plan: the establishment of our second major production site.
Management has poured over the numbers directly related to our Maine operations. Our conclusion is that the data justify continued expansion given that our success in Maine came in under budget and brought us to the brink of full-scale production of top quality CBD with no increase in debt.
HempAmericana leadership is now working closely with advisors and our legal team in selecting the site for our next operational hub. At this stage, we are avidly pursuing properties in Oregon, Indiana, and New York.
We will update you as events progress. But exciting news is on the way!
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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