TSX-V: HEMP
VANCOUVER, Oct. 31, 2018 /CNW/ - Hempco Food and Fiber Inc.
(the 'Company" or "Hempco") (TSX-V: HEMP) provides a corporate
update on recent developments of its strategic growth plans.
Highlights:
The recent roll-out of the new Cannabis Act further strengthens
Hempco's position for growth and expansion under its Tri-Crop
Strategy with three key revenue streams from the industrial
plant:
- New market expansion in bulk distribution;
- Planet Hemp Superfood™ product line and market expansion;
- Tri-Crop opportunities with Bill C-45
New Market Expansion
Increasing bulk distribution of hemp seeds, hemp protein and
hemp oil into new markets is a core part of the Company's growth
strategy. Hempco has just signed an agreement with one of
New Zealand's largest hemp
importers/distributors. The expansion coincides with the
development of Hempco's new 56,000 square foot production facility
in Nisku, Alberta, capable of
processing nearly 3.0 million kg of hemp seeds annually. This
facility will be the largest of its type in Canada for the production of hemp-based
products
Planet Hemp Superfood™ Product Line and Market
Expansion
After successfully launching its Plant Hemp Superfood™ line in
Mexico, Hempco is expanding this
product line's geographical distribution footprint into
Canada. The Company signed
agreements with key health and wellness food distributors Jonluca
(a Canadian Business' Growth 500 company) and Satau, to
extend market coverage in Ontario
and Quebec respectively.
The Company also recently launched two new line extensions:
'Super-Seeds' in Original and Savoury Onion varieties.
'Super-Seeds' are ideal as a snack, and can be used to complement
salads, on avocado toast or on their own.
Tri-Crop Opportunities for Hempco and farmers with Bill
C-45
Bill C-45 positions Hempco for growth and expansion with three
revenue streams from the hemp plant:
- Hemp seeds for hemp-based foods;
- Hemp stalk for fiber and hurd that is used in textiles and
industrial applications; and
- Flowers and leaves for CBD extraction.
The flowers and leaves are valuable components of the plant that
were once required to be left behind as waste materials in the
fields after each harvest. Bill C-45 allows Hempco to work with
farmers to collect the flowers and leaves and implement its'
Tri-Crop Strategy to ensure none of the plant is left as waste.
Management Commentary
"Our latest corporate developments are aligned with our
strategic initiatives. As a result, we are well positioned for
growth and product diversification. We are implementing our
Tri-Crop Strategy, bringing our Plant Hemp Superfood™ brand and our
bulk products into new markets" said Diane
Jang, CEO of Hempco. "We are excited about these latest
developments and we look forward to building on these
achievements."
About Hempco
For more than 12 years Hempco has been a trusted and respected
pioneer, innovator and provider of quality hemp-based foods, hemp
fiber and hemp nutraceuticals. Hempco produces and markets the
brands Planet Hemp and Praise, hemp-based foods and nutritional
supplements for people and animals. Hempco is expanding its
processing ability to meet global demands in a 56,000 sq. ft.
facility located at Nisku, Alberta. Hempco's common shares trade on the
TSX Venture Exchange under the symbol "HEMP".
On behalf of the Board of Directors
Diane Jang
Chief Executive Officer
The TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements in this press
release include the Company's anticipation of further growth, its
expectation that continued spot inspections by the Canadian Food
Inspection Agency will strengthen its standing as a trusted
supplier, its intent to achieve the BRC Global Standard for Food
Safety and its efforts to implement these standards at
its Nisku, Alberta facility, its expectation that
the Nisku facility will be operational by Fall
2018. These statements are only predictions. Various
assumptions were used in drawing the conclusions or making the
projections contained in the forward-looking statements throughout
this news release. Forward-looking statements are based on the
opinions and estimates of management at the date the statements are
made, and are subject to a variety of risks and uncertainties and
other factors that could cause actual events or results to differ
materially from those projected in the forward-looking statements.
The Companies are under no obligation, and expressly disclaims any
intention or obligation, to update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as expressly required by applicable
law.
SOURCE Hempco Food and Fiber Inc.