HempAmericana Fully Executes Contract To Acquire Local Farm For Seed Production
Company Expands to Drive Super-Potent CBD Yields
ByGlobeNewswire
Feb 14, 2018 8:00 AM EST
HempAmericana Fully Executes Contract To Acquire Local Farm For Seed Production
NEW YORK, Feb. 14, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HempAmericana, Inc. (OTC:HMPQ) ("HempAmericana" or the "Company") is excited to announce the potential acquisition of a ten acres farm in Maine. The Company plans to use the facility for genetic testing and cultivation of super high-potency seeds as a supply input for its CBD Oil extraction and processing facility in nearby Augusta, Maine.
Seven acres of the 10 acres are encircled by a deer fence and features a full drainage system and multiple spring-fed wells for irrigation. The property has been cleared and is farming-ready at present. The Company plans to construct multiple greenhouses on the farm as well.
As far as productive capacity, management believes the farm can support as many as 84,000 hemp plants. The Company plans to employ special strains known for generating super-concentrated CBD yields, and to genetically cross them with other strains to maximize the potency of CBD Oil being produced at its primary extraction and processing facility.
HempAmericana CEO, Salvador Rosillo, commented, "One of the benefits of being in a strong financial position before switching on a new major facility is the ability to make strategic investments in key inputs to date the company has zero Bank debt. Owning our own seed cultivation and research facility will not only grant the Company strength at the negotiating table but will also allow us to invest in truly putting the highest quality product out there while acting as a dampening force to counter price gouging in the regional hemp seed market."
This step toward verticalization may be followed by additional steps of a similar nature in 2018 as the Company continues to lay down a foundation capable of supporting an industry-dominant position as a high-capacity producer in the $2.1B CBD Oil space.
Mr. Rosillo continued, "We aren't just looking to become the biggest high-potency CBD Oil operation east of the Mississippi... We are setting the stage to become the go-to force at all levels of this business."
