NEW YORK, Dec. 27, 2017 (GLOBE NEWSWIRE) -- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is proud to provide a year-end shareholder update on the Company’s progress toward its key strategic objectives as 2017 winds down and 2018 approaches. Several major milestones are due to hit in coming weeks, and management is keen to point to the Company’s exceptional progress over recent months as a source of perspective for investors and shareholders as the year draws to a close.
“2017 has been a momentous year for the Company,” states HempAmericana CEO Salvadore Rosillo. “We have successfully navigated a core operational pivot, shifting the Company’s central focus into the CBD Oil production niche. That entailed a number of difficult obstacles to overcome. And I’m very pleased with how our team responded. We needed to nail down capital equipment, a strong base of operations, and both the upstream and downstream business relationships. As it turns out, we were both good and lucky. And the Company is set to hit 2018 firing on all cylinders.”
Management defines its success in terms of four principal goals related to the Company’s pivot into the CBD Oil Production space:
- Acquiring and successfully financing its extraction machinery,
- Acquiring a home base of operations in Maine,
- Negotiating a distribution footprint,
- And assembling a supplier network
According to its executive officers, the Company has managed to execute on each of these objectives over recent months.
Given demand trends in the CBD Oil space, the acquisition and financing of extraction machinery has been a keystone goal in this process.
As noted in prior releases, the Company has fully executed on its financial responsibilities in acquiring the 200 Liter Super Critical CO2 CBD Oil Extractor Machine from Vitalis Extraction Technology, Inc. That announcement hit the newswires on November 20, 2017. At that time, the company was advised by the manufacturer of the high-capacity device that it was now in the manufacturer’s production cue with a 60-day delivery schedule. That delivery is now nearing completion, and will immediately place the Company in a leadership position in the CBD Oil production space in terms of total CBD Oil productive output potential.
The Company also hit the mark on the second of these major objectives when it signed the lease on a 17,000-square foot state-of-the-art facility in Augusta, Maine, which will serve to house the Company’s principal CBD extraction and production operations going forward. Management believes the site represents a perfect base of operations in terms of its physical layout, geographic location, overall quality, key features, and positioning as a permit-ready facility for the CBD production industry.
As noted in a recent release, the Company has also managed to make key strides toward nailing down a distribution network. In its December 11, 2017 press release, management went on record about its current negotiations with multiple high-volume CBD Oil producers in the US. While demand growth suggests this is not likely to be a barrier to monetization, the Company is excited to have a domestic distribution footprint in place before production commences in Maine.
In addition, as covered in its recent December 14, 2017 communication, the Q1 2018 production schedule is on track as the Company has now secured sufficient necessary raw hemp material for initial production activities upon delivery of the 200 liter extraction machine in January.
In each case – plant, site, distribution, and supply chain – management strongly believes the Company is ahead of its stated objectives as we close the books on 2017.
Rosillo continues: “Multiple independent research sources are telling the same resounding story for the CBD Oil market, and it’s certainly one that seems to promise a happy ending for companies with the foresight, resources, and will to truly go ‘all-in’. HempAmericana plans to be at the vanguard of this growth trend as it blossoms into full-gear next year.
“Right now, as we close the doors on 2017, it’s been a cold and snowy week here in Maine. The bus was driven into its new space yesterday and barely fit through the door. We now have 100lbs of hemp in-house to test the R200 extraction machine once it has been delivered and installed. The cryo-refrigeration unit has arrived and it’s huge. All systems go!”
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:
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