NEW YORK, Dec. 11, 2017 (GLOBE NEWSWIRE) -- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to announce it has begun negotiations with high-volume CBD Oil distributors around the country. The company is locking up a distributor network in advance of moving into full production at its Augusta, Maine location in Q1 2018.
CEO Salvadore Rosillo stated, “Distributor networks are paramount to our success. While our focus has been to establish a world class extraction facility, monetization is going to be a product of our distribution network going forward.”
The company’s new Super Critical CO2 Extractor Machine is now in the manufacturer’s production cue with a 60-day delivery schedule. Recently ordered from Vitalis Extraction Technology, Inc., the 200-Liter machine has an unmatched productive capacity and represents the largest machine ever produced by the manufacturer.
The production schedule will allow multiple distributors to push product out across the country as growth in the space continues to heat up. The global CBD Oil market is set to grow at a CAGR surpassing 39% through 2021, according to recent research by London-based Technavio. Product differentiation is becoming a driving force.
Management believes this trend favors upstream supply chain positioning, high-volume production, and a wide distribution footprint. With the commencement of its current round of negotiations, the last of these factors is beginning to take shape.
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.