NEW YORK, Feb. 14, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HempAmericana, Inc. (OTC:HMPQ) (“HempAmericana” or the “Company”) is excited to announce the potential acquisition of a ten acres farm in Maine. The Company plans to use the facility for genetic testing and cultivation of super high-potency seeds as a supply input for its CBD Oil extraction and processing facility in nearby Augusta, Maine.
Seven acres of the 10 acres are encircled by a deer fence and features a full drainage system and multiple spring-fed wells for irrigation. The property has been cleared and is farming-ready at present. The Company plans to construct multiple greenhouses on the farm as well.
As far as productive capacity, management believes the farm can support as many as 84,000 hemp plants. The Company plans to employ special strains known for generating super-concentrated CBD yields, and to genetically cross them with other strains to maximize the potency of CBD Oil being produced at its primary extraction and processing facility.
HempAmericana CEO, Salvador Rosillo, commented, “One of the benefits of being in a strong financial position before switching on a new major facility is the ability to make strategic investments in key inputs to date the company has zero Bank debt. Owning our own seed cultivation and research facility will not only grant the Company strength at the negotiating table but will also allow us to invest in truly putting the highest quality product out there while acting as a dampening force to counter price gouging in the regional hemp seed market.”
This step toward verticalization may be followed by additional steps of a similar nature in 2018 as the Company continues to lay down a foundation capable of supporting an industry-dominant position as a high-capacity producer in the $2.1B CBD Oil space.
Mr. Rosillo continued, “We aren’t just looking to become the biggest high-potency CBD Oil operation east of the Mississippi... We are setting the stage to become the go-to force at all levels of this business.”
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.
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