HempAmericana Provides Update on Production Schedule; CBD Oil Production to Kick off in January, 2018: On Target
January 4, 2018 - 8:00 AM EST
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HempAmericana Provides Update on Production Schedule; CBD Oil Production to Kick off in January, 2018: On Target
NEW YORK, Jan. 04, 2018 (GLOBE NEWSWIRE) -- – via OTC PR WIRE-- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to announce that the Company is currently on schedule to meet its principal CBD Oil production operational benchmarks, with initial product roll-out still slated for its January 2018 target.
HempAmericana management is pleased to report on specific key milestones, all of which are now on schedule in an unimpeded manner:
Final testing on the Supercritical CO2 Extractor Machine is now set for the week of January 8, 2018, by the manufacturer.
Delivery of the Supercritical CO2 Extractor Machine is scheduled to take place this month.
As previously announced, the Company has negotiated Hemp raw stock purchases in sufficient quantities to allow for aggressive production targets. The raw Hemp supply is set for delivery to the Company’s principal CBD Oil production facility in Augusta, Maine before the end of January 2018.
The Supercritical CO2 Extractor Machine was purchased with a financing agreement from Vitalis Extraction Technology, Inc. The Company is proud to announce that it has now delivered payment in full for 90% of its total associated outstanding financial obligation in cash.
The Company’s build-out of its Maine facility is progressing on time and will be ready for delivery of all associated production machinery and material before end of month, along with expected Permits.
Management believes this represents a series of major milestones as the Company continues to pivot into a leadership role in the CBD Oil product space. Analysts have pegged the CBD oil product manufacturing segment to be the most aggressive growth facet of the cannabis sector over coming years.
As previously announced, the Company has a 10-Liter machine already scheduled for production. Augmenting that production with the massive impact of its new 200-Liter machine should quickly legitimate the Company as an elite player in a market recently projected by Hemp Business Journal to grow to $2.1 billion in total annual sales by 2020.
Company CEO Salvador Rosillo stated, “We had a concrete vision outlined as of the end of Q2 2017. But it’s no less extraordinary to watch the final pieces come into place. Our goal has been clear from the start: to become a major producer in the Hemp Oil space. And we are reaching each and every milestone to achieve that now!”
As indicated in prior press releases, the Company plans on establishing a dominant position as a major CBD Oil producer in the Northeastern US before expanding production activities to other regional US markets over coming quarters.
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.
