NEW YORK, July 19, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--HempAmericana, Inc. (OTC:HMPQ) (“HempAmericana” or the “Company”) CEO issues the following letter to Shareholders:
Dear Valued Shareholder,
As we navigate the ever-exciting transition into our new marketplace in the high growth CBD Oil sector, the Company has been fortunate to encounter few setbacks along the way in this journey over the past 12 months.
In almost every respect, we have encountered a best-case-scenario outcome: acquiring a state-of-the-art facility, installing blue-chip machinery and personnel into that equation, and staying primarily debt-free through this process without burdening shareholders or our balance sheet along the way.
I know I can speak for everyone involved at HempAmericana when I state that we feel extremely excited and fortunate to be where we are right now.
However, due to the caveat emptor designation still in place from the OTC Markets Group (the “OTC”), the company has struggled to establish new financing channels to fund our aggressive growth strategy looking ahead. While the situation is far from dire, we have decided to attack this issue preemptively before it becomes “important” in any real sense.
As such, we have hired an experienced SEC lawyer, Greg Schenzia, of the SEC focused firm Sichenzia Ross Ference Kesner LLP, to represent the Company to the OTC for the express purpose of the imminent removal of the caveat emptor designation, while continuing to represent the Company in all aspects of the reporting process.
In the meantime, I have personally injected $120K to buffer against any potential capital shortfalls and to ensure that our operations will move forward as planned. Fortunately, we will only see a minor scheduling adjustment (approximately 60 days) in total as we integrate this factor.
On a more exciting note, we are expecting the Central Maine Power Company to install our Pole and Transformer to provide us with the necessary power capacity to ramp up full production activities at our principal extraction and processing facility in Augusta, Maine. This is especially exciting given that we currently have 4,000 lbs of blue chip hemp flower sitting in our facility right now ready for our initial production run.
Once that production is underway, it shouldn’t take long to get it out the door: we already have strong indications of interest from our partners, and we are working on obtaining our initial purchase orders in the very near future.
As for our nearby high-potency seed cultivation facility (the “farm”), we have recently made great strides, with first seedlings planted from our initial seed purchase of high-quality hemp seedstock. We look forward to a bountiful harvest this fall.
Finally, we have recently installed a state-of-the-art security system to guard and monitor all HempAmericana assets. Our new system complies with all major regulatory precepts and ensures that Company assets are safe and secure at all times.
I would like to personally thank HempAmericana shareholders for your continued support as we navigate the final stage of this transition and begin to ramp up our new phase of operations!
Best Regards,
Salvador Rosillo
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.
Contact:
HempAmericana.net
Salvador Rosillo