NEW YORK, Dec. 14, 2017 (GLOBE NEWSWIRE) -- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to confirm that it has secured sufficient necessary raw hemp material for initial production activities to be processed upon delivery of the Company’s new 200-liter Supercritical C02 Extractor machine in January, 2018. Given strong demand estimates (the CBD market is anticipated to grow to $2.1 billion by 2020), additional supplier agreements are being pursued.
Management is excited about its progress in coordinating supplier agreements at this stage given the developing status of the hemp market. Supply chain logistics in the hemp space are still a work in progress for those involved in high-capacity production activities, which presents unconventional challenges for companies like HempAmericana.
Company CEO, Salvadore Rosillo stated, “Given the scope of our ambitions, attaining adequate raw inputs was identified early on as a key challenge. The fact that we are now ahead of the game with this facet of the process is extremely important. We have secured a 17k square foot facility and machinery capable of unmatched productive output at this point, and we have begun to coordinate our distribution network. Access to raw material inputs was really the only remaining obstacle to reaching our primary objective: firing up a world class CBD Oil production operation over coming months!”
The Company has been gearing up for a high-capacity producer role in the CBD Oil marketplace for the better part of the past year given consistent projections of high demand growth over the next 3-5 years. Analyst projections have consistently demonstrated a high-conviction bias toward powerful growth over that period, with estimates ranging from 650-700% market growth, according to industry research as reported by the Hemp Business Journal.
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