NEW YORK, April 12, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE - HempAmericana, Inc. (OTC:HMPQ) (“HempAmericana” or the “Company”) is excited to announce that the Company has now fully secured sufficient hemp input supplies to fuel extraction and processing operations at its state-of-the-art Augusta CBD Oil facility for 2018 CBD Oil production activity.
According to management, the Company has been working with farmers throughout the state of Maine to lock up sufficient supply material through existing farm capacity while avoiding initial overinvestment in pre-sale capital expenditures. Thus far, HempAmericana has guaranteed itself a minimum allocation of the yield from 85 acres of CBD-rich hemp.
The Company conservatively estimates 1 lb. per plant of flower for extraction, which suggests roughly 106,250 lbs. of input hemp stock for processing by this fall (or as much as $20M in total sellable CBD Oil production, according to current market pricing for 99%-pure high-potency CBD Oil products).
HempAmericana CEO, Salvador Rosillo, commented, “Having already locked up input materials to power operations this year is a big advantage at this stage. Going forward, we will be able to focus on perfecting the extraction process and fulfilling our promise of generating the new benchmark for high-quality, high-potency CBD Oil.”
The Company has been working with regional farmers over recent months, supplying them with seeds from CBD-rich strains in anticipation of locking in supply arrangements. Management notes that the Company will be testing finished stocks at harvest and purchasing at that time at market pricing minus cost of seeds.
About HempAmericana, Inc.
HempAmericana is currently in the rolling paper and CBD oil business using the brand name Weed Got Oil. Search Rolling Thunders hemp papers on YouTube for a product demonstration of the Company's papers. The company owns an extraction machine and now plans to become a leader in the CBD oil market by establishing three laboratories for the extraction and research of the oils contained in the hemp plant. HempAmericana also researches, develops and sells products made of industrial hemp. See more at http://www.HempAmericana.net.
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 obligation 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
Contact:
HempAmericana.net
Salvador Rosillo
HempAmericana, Inc.
Phone: (888) 977-7985