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HempAmericana Commences Initial CBD Oil Production in $2.1B CBD Market
NEW YORK, Sept. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”) is thrilled to announce the commencement of initial CBD Oil production at its principal state-of-the-art extraction and production facility in Augusta, Maine.
As an initial step toward the launch of full-scale production, the Company is set to initiate processing of its in-house inventory stock, which consists of 4,000 lbs of premium-grade hemp flower. The company has been working with the original manufacturer of its Vitalis RL-245 high-capacity supercritical CO2 CBD Oil extraction machine. This production run will constitute the “maiden voyage” for this leading-edge technology and for the highly advanced high-capacity facility as a whole.
HempAmericana CEO, Salvador Rosillo stated, “This is a huge day in the history of HempAmericana! We couldn’t be more excited. The initial production run, coming ahead of schedule at this stage, speaks volumes about our dedicated team in Maine. Our guys have worked their tails off. Full stop.”
The principal output will initially consist of crude CBD Oil extract, which will subsequently be subjected to a series of filtering procedures to obtain the desired Isolate for wholesale distribution to CBD Oil market vendors for immediate sale.
Management notes that the Company’s proprietary CBD isolate extraction process begins with the production of a botanical concentrate comprised of elements including the base cannabinoid foundation, along with other ingredients including lipids and organics from the hemp plant. The next step is to further purify this compound to remove essentially everything but the CBD through a proprietary process, resulting in an isolate powder comprised of 99% pure Cannabidiol.
Mr. Rosillo continued, “This initial run is a necessary part of the process. High volume production is the next step.”
As has been widely documented, the global CBD products market is experiencing extremely rapid growth as CBD becomes more widely understood and marketed. Recent estimates from a range of analysts suggest growth somewhere between 50%-100% over the next year, with total CBD product sales reaching $2.1 billion in 2020 according to the Hemp Business Journal.
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 mad 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
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