LAS VEGAS, March 26, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc.'s (OTC:HEMP) wholly owned subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company, Inc. (IHMMCC), is pleased to announce that it has formed a strategic partnership via a signed Consultant Agreement with Hollund Industrial Marine, Inc. (OTC:HIMR), a natural resource project management company with a keen focus on underwater forestry. The company's interest in the multi-billion dollar industrial hemp industry peaked while participating in North Cal Wood Products, Inc.'s market research study on the benefits of hemp and how it can be cultivated in aquaponic systems to enhance the sustainability and profitability of its underwater timber projects. After which, Hollund Industrial Marine, Inc. sought the guidance of industrial hemp leader and innovator, Hemp, Inc. (OTC:HEMP).
Per the Agreement, Hemp, Inc.'s subsidiary, IHMMCC, will advise Hollund Industrial Marine, Inc. on market strategies, specifically in areas favorable to industrial hemp cultivation that also have viable underwater timber projects. According to Hollund Industrial Marine, Inc. (OTC:HIMR), such areas include France, Canada and China. As part of the industrial hemp movement, IHMMCC will also help HIMR market their product line of recovered wood to individuals, institutions and organizations, as well as more traditional channels of distribution, in the industrial hemp communities and marketplace. In addition to marketing strategies, IHMMCC will also provide support and direction with press releases and general business guidance for Hollund Industrial Marine, Inc. as the company navigates the industrial hemp industry.
"Hollund Industrial Marine, Inc. is not only an innovative leader in its industry... it will be the first company to incorporate industrial hemp fibers into the production process of its underwater timber operations," said Bruce Perlowin, CEO of Hemp, Inc. (OTC:HEMP). According to Hollund's CEO, Peter Meier, "Combining wood waste, which would otherwise end up in landfills, with industrial hemp, insures a positive impact on the environment; partly by helping to reduce carbon emissions."
Executives from both Hemp, Inc. (OTC:HEMP) and Hollund Industrial Marine, Inc. (OTC:HIMR) believe incorporating industrial hemp fibers will greatly sustain underwater timber projects.
Typically, as dams are built, massive areas of forest are often submerged under water leaving the vegetation unproductive and eventually decaying. According to Hollund's website (www.HollundIndustrial.com), there are a reported 50,000 large hydro dams around the world with more in construction.
This presents a huge, high-profit, opportunity for Hollund to "apply its minimal-impact harvesting practices to underwater timber recovery" because the market is virtually untapped.
The company's project team is currently in Panama overseeing the logistics of its Bayano project, which covers 2,400 acres of the total 85,000 acres encompassing Bayano reservoir. According to Hollund's CEO, Peter Meier, incorporating one of earth's most valuable, natural resources with a patented machine technology for underwater timber recovery could prove to be the best move yet. Sustaining such a massive undertaking will, however, yield very high profits... a great incentive for potential investors and an added benefit for current shareholders of HIMR.
The mutually beneficial partnership with IHMMCC will not only increase revenues for Hollund Industrial Marine, Inc. (OTC:HIMR), it will also advance the production process making Hollund not only an industry leader but a pioneer.
According to Perlowin, Hemp, Inc.'s subsidiary, The Industrial Hemp and Medical Marijuana Consulting Company, Inc. (IHMMCC), is well-entrenched and connected in the industrial hemp sector. As the country transitions to embrace more sustainable agriculture practices, public companies want to expand into the industrial hemp industry and IHMMCC is leading the way. Hemp, Inc. executives say their subsidiary continues to be inundated with potential consulting agreements from companies seeking to capitalize in this multi-billion dollar industry that is spurring ecological and economic benefits.
"The Industrial Hemp and Medical Marijuana Consulting Company, Inc." pulls industry information from a vast network of specialists that consists of other public industry, public and private companies, public companies' CEOs and networks of experts, bankers, investors, lawyers, other consultants, industry analysts, and non-profits connected to this industry as well as the traditional industry experts in all areas of the various business opportunities the industry presents. The unrivaled wealth of knowledge and experience is attracting companies looking to diversify and expand into the industrial hemp and medical cannabis arena.
ABOUT HEMP, INC.
Hemp, Inc. (OTC:HEMP) focuses on the vast market created by the growing, multibillion dollar industrial hemp industry and strives to be the most diversified company in the sector. Hemp, Inc. (OTC:HEMP) is not currently involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of Industrial Hemp in all 50 states (which is now possible with the passage of the 2014 Farm Bill) will come to pass. With that in mind, the company continues to build infrastructure with the potential to gain substantial market share before and after Industrial Hemp prohibition totally ends.
ABOUT HOLLUND INDUSTRIAL MARINE, INC.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (OTC:HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model -- including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based communities.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Hemp, Inc. to be materially different from the statements made herein.