November 30, 2017 08:00 ET | Source: HempAmericana, Inc.
NEW YORK, Nov. 30, 2017 (GLOBE NEWSWIRE) -- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to announce that the Company has fully executed the lease for 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 beginning December 1, 2017.
Management believes this site will provide an exceptional home for its massive 200-Liter Super Critical CO2 Extractor Machine, which is set to be delivered in less than 60 days. The site was selected over other potential locations on the strength of several key factors:
- the building has recently received roughly $20,000 in new upgrades to both exterior and interior features,
- the site’s interior is exceptionally well-suited to the company’s vision for its production operations,
- it has 2 large loading docks and one drive-in loading bay for easy freight operations,
- the site is located in Maine’s capital city very near a major highway to ease delivery accessibility,
- it has already been approved for horticultural operations, which should facilitate easy access to CDB production permits,
- and the leasing entity has agreed to provide for a purchase of the property in three years at fair market value.
Salvadore Rosillo, HempAmericana’s CEO, commented, “This is perhaps the perfect site for us. We couldn’t be more excited about the fit. We are preparing to launch what may become one of the foremost CBD Oil production operations in the country in coming weeks. But that puts a lot of balls in the air. You have to think about permitting, delivery accommodations, housing the machinery, operational flow. We knew we needed to hit a home run in terms of the site. With this lease, we feel confident we did just exactly that.”
Management has been most focused on meeting growing demand estimates. The CBD Oil product market has been the fastest growing segment of the cannabis sector over the past year, and is projected by some analyst firms to continue to outpace all other areas over the next 3 years, according to a recent study published in Forbes. Hemp Business Journal estimates the hemp industry will grow to $1.8 billion in sales by 2020, led in part by CBD oil-based products such as those set to be produced at HempAmericana’s new facility.
Rosillo continued, “We know the game here is going to be about scaling. That’s why we have the biggest extractor machine ever assembled by Vitalis on the way. That's why we have been pushing every factor to max out capacity. This facility will expandable to 42,000 sq ft, and we may need it.”
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.