Thursday, May 22, 2014 1:24:45 PM
Hemp, Inc. to Invest $1,000,000 in Banking Venture
LAS VEGAS, May 22, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP) today announced it has committed $1,000,000 to kick-start the search for an appropriate banking partner in Colorado and to perform due diligence thereof. The allocated funds will be held in escrow while the search begins.
Bruce Perlowin, CEO of Hemp, Inc., stated, "We are committed to moving this industry forward and supplying the infrastructure to make it more viable. Our recent acquisition of the largest decorticator in the United States, in order to process raw hemp into valuable renewable products, is off to a great start, but it doesn't stop there. As a 'farmer' in China, Hemp, Inc. understands the needs of farmers and we believe farmers, as well as other providers, will undoubtedly need financial services to make this industry soar to new heights. This is already a very unique, rapidly growing market and it is our goal to be a part of supplying their financial needs."
Perlowin went on to say, "Our increase in revenue over the last year has given us the strength to make these bold steps that we believe over time will allow Hemp, Inc. to be the vertically entrenched backbone of the industry. From growing hemp, to helping farmers, processing the harvest, marketing products and to financing the growth, we plan to be a significant player in this industry."
Hemp, Inc. executives say due to the company's stability, both financially and operationally, and its commitment to the shareholders, the company expects to continue generating positive earnings and return on investments.
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