LAS VEGAS, Jan. 13, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc. announced today that it has reached a definitive agreement with Apex 9, Inc., a Delaware fully reporting company, to purchase the assets of VOIPNetX, Inc. VOIPNetX, a development stage cellular and VOIP telecommunications company, is one of Hemp, Inc.'s non-core business divisions. Hemp, Inc. (OTC:HEMP) management determined the point had been reached where additional development of VOIPNetX, Inc. would distract management from its focus on the industrial hemp industry. It is Hemp, Inc.'s intention to issue all of the stock received by Hemp, Inc., from Apex 9, Inc., to the shareholders of common stock in Hemp, Inc. as a dividend. This gives the shareholders of Hemp, Inc. the opportunity to benefit financially from the spin off and it allows Hemp, Inc. to become more focused. The record date for the spinoff of VOIPNetX will be announced as soon as it becomes available.
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