NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE – HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”), an emerging leader in the CBD products market, is pleased to announce that the Company has begun to substantially increase its rate of production of CBD-based products in response to stronger than anticipated ecommerce demand following the full launch of its online sales portal.
The Company is also excited to report that, due to this strong market response, HempAmericana will be upgrading its ecommerce platform to further amplify its digital presence and drive further growth in sales.
“We have seen a massive market response as we ramp up our initial ecommerce distribution activity,” commented Salvadore Rosillo, CEO of HempAmericana. “It’s working. And our number one concern is delivering shareholder value, which means we are ready and willing to facilitate further expansion through this channel.”
The Company is also very pleased to see powerful steps being taken by lawmakers now pushing for US legalization of cannabis. The House Judiciary Committee approved a Bill on Wednesday that would decriminalize marijuana at the federal level. The Marijuana Opportunity Reinvestment and Expungement Act of 2019 (the “MORE Act”) passed by a wide margin, 24-10, with bipartisan support.
The Company applauds this step, which holds the potential to level the playing field for the cannabis and hemp-related products marketplace, laying a foundation whereby companies in these industries will be treated as law-abiding citizens, gaining access to the infrastructural resources that other industries take for granted, such as the banking system.
Mr. Rosillo continued, “After everything we’ve invested in this process, it’s tremendous to see the wheels in motion and product going out the door. The fact that it’s going out the door faster than we anticipated is a great problem to have. And we know exactly how to deal with it. It’s also terrific to see the gradual and seemingly inexorable process of full cannabis legalization in the US speed up a notch. We’re very excited about the opportunities that lie ahead.”
About HempAmericana, Inc.
HempAmericana is an emerging leader in the CBD products market. The Company owns and operates a high-capacity, state-of-the-art CBD extraction and processing facility located in Augusta, Maine. This facility is armed with a supersized supercritical CO2 extraction system, centrifugal partition chromatography refinement technology, and a mechanized fully-automated CBD bottling system. The Company’s CBD oil business uses the brand designation, “Weed Got Oil”. HempAmericana also researches, develops, and sells products made of industrial hemp, including a popular brand of hemp rolling papers marketed under the brand name, “Rolling Thunders”. See more at www.hempamericana.com.
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.
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