Hempco Food And Fiber Inc. - Comparative Monthly Sales Report

TSX.V Symbol: HEMP                                  

VANCOUVER, Dec. 9, 2016 /CNW/ - Hempco Food and Fiber Inc. (TSXV: HEMP) ("Hempco®") is pleased to announce its monthly sales report.

The following is a summary of approximate monthly bulk and retail sales (*=unaudited):

Bulk hemp foods sales and PLANETHEMP brand retail products sales



Sept

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Total

Bulk

2015/2016

$279K

$434K

$249K

$209K

$183K

$540K

$415K

$632K

$949K

$809K

$351K

$190K

$5.24M

Bulk

2016/2017

$1M*

$870K*

$223K*










$2.09M

Retail

2016/2017

$1K*

$50K*

$5K*










$56K

Fiscal year end August 31

 

Watch our interview on BNN with Andrew Bell held on Thursday, Dec 8, 2016.

http://www.bnn.ca/video/hemp-fights-back-after-century-in-the-shadows~1012386

Glut of Chinese Hemp Nut on Korean Market Produces Quality Concerns

Charles Holmes comments on the November dip in sales:

"Hempco® sales to Korea went on hold for 3 weeks when tons of Chinese hulled hemp seed flooded the Korean market. Koreans are very quality conscious and cautious of Chinese products consumption. Hulled hemp seed "hearts" are made by shattering the hulls and separating the yellowish white meats inside from the shells and any foreign matter that may have come off the fields. Hempco® product specs are 99.9% clean from the farmer to our facility, and up to 10 parts foreign matter (wheat and/or other grains / seeds, chaff etc.) and average 10 hemp seed shells. Hemp seed meats have a "skin" or "pericarp" around them much like a peanut or sunflower seed which is dark green and VERY nutritious.  Depending on time of year and type of seed and processing variables, there can sometimes be more than normal amounts of pericarp mixed with the whitish hulled hemp seed nut. Korean customers have associated this "dark green skin" as lower quality and/or of inferior Chinese product origin and are questioning the quality of Hempco® product. Hempco® staff has been helping educate the Korean customers and re-affirm the quality specs and standards."

Hempco® has experienced more than 100% increase in sales this quarter vs the same quarter last year. Despite this increase over last year, it should be understood that there is a seasonal nature to the business. Sales traditionally slow in the October to December period with a corresponding rebound in sales starting in January. "December sales have already started to rebound off November and we expect this will carry through the New Year. We currently have $1 million in product that is in transit and will be recorded as revenue when it is delivered in December." says CEO, Charles Holmes.

HEMPCO Changes TSX.V Ticker Symbol from"HFF"to"HEMP"

PLANETHEMP - Awarded Food & Drink Matters "Company of the YEAR!"

Hempco® was recognized for its delicious, nutritious and innovative PLANETHEMP premier food products launch in the UK. http://www.foodmatterslive.com/who-s-there/exhibitors/planet-hemp "The Hempco team has worked hard for this achievement and is honoured to have been chosen. It's great to see hemp foods get recognized. It's a wonderful shot in the arm for us." says CEO, Charles Holmes.

We seek Safe Harbor.

ON BEHALF OF THE BOARD

"Charles Holmes"                 

Charles Holmes
Chief Executive Officer

HEMPCO FOOD AND FIBER INC.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties.  Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason.  Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as the decision of the TSXV to reject any grant of options or any person to act as investor relation service providers. Except as required by law, the Company does not intend to update any changes to such statements.

SOURCE Hempco Food and Fiber Inc.

For further information: Don Mosher, Business Development Executive, T: 604-685-6465, Vancouver BC, Canada

RELATED LINKS
http://hempcocanada.com/

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