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SeeThruEquity Initiates Coverage on HempAmericana
NEW YORK, Nov. 07, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”) is proud to announce that SeeThruEquity has initiated coverage on the Company with a price target of $0.03 (or roughly 200% above current trading levels), noting, “We see several potential catalysts ahead, as the company began processing crude CBD in September and expects to commence fully automated production and bottling of high purity CBD during calendar 4Q18.”
Salvador Rosillo, HempAmericana CEO, commented, “We are excited that SeeThruEquity has cast its light on HempAmericana and has recognized the remarkable growth potential we have ahead of us. The Company has recently completed a 24-month transition into the role of an emerging leader in high-capacity, high-quality CBD production. Given the stunning growth in the CBD marketplace both witnessed over the past year and expected over the next 2-5 years, we believe we are in exceptional position, with one of the most advanced CBD extraction and processing facilities in North America and no debt on the balance sheet.”
In their report, SeeThruEquity analysts have placed a price target of $0.03 on HempAmericana shares, representing an implied 200% increase in HMPQ share pricing and a valuation of 19.7x 2019E, with expectations of $3.6 million in revenues next year and $9.9 million in 2020. According to its report, these expectations are based on industry analysis and an in-depth analysis of HempAmericana’s strong financial position and state-of-the-art 17k sq. ft. production facility in Augusta, Maine. The report can be viewed at http://www.seethruequity.com.
Mr. Rosillo continued, “It’s exciting to see our own view of the CBD marketplace so thoroughly echoed by SeeThruEquity analysts. We believe the CBD market is heading for continued dramatic expansion as more and more people learn about this exceptional substance and its positive effects.”
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 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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