HEMPCO FOOD AND FIBER INC. CORPORATE DEVELOPMENTS
TSX V Symbol: HEMP
VANCOUVER, Nov. 28, 2016 /CNW/ -Hempco Food and Fiber Inc. (TSXV: HEMP) ("Hempco®") is pleased to announce that Hempco® has found a home for its new hemp foods processing facility in Nisku, Alberta, near the Edmonton International Airport. For several months, Hempco® has been searching for a new location to expand its hemp seed food processing capacity to meet increased global demands. Hempco® has entered into a Lease with Option to Purchase Agreement with Redco Properties Ltd. for a 56,000 sq. ft. new building location on 4.7 acres.
Hempco® is presently producing about 200,000 lbs of hulled hemp seed per month at its MacGregor, Manitoba, facility and expects the Alberta location hemp seed processing equipment will produce approximately 240,000 lbs/month, with scalable plans for 6X that amount or about 1.3 million lbs/month. Phase 1 install completion target is April 2017.
"We have several hemp food processing locations in Manitoba and Saskatchewan, and getting closer proximity to supply from the western prairies, logistically and financially, just makes sense. We are happy to say that Alberta has welcomed us with open arms and opportunity. There is now direct to China cargo flights at the Edmonton Airport and a new shipping container distribution center planned for the area," commented Charles Holmes, CEO of Hempco®.
Hempco® is featured on CEO clips, airing on BNN. CEO Clips profiles some of the most innovative publicly traded companies in North America and has been featuring this clip http://www.b-tv.com/hempco-commercial/ on BNN since Oct 2016. Business News Network (BNN) is Canada's only all business specialty channel with real time coverage of global market activity from a Canadian perspective.
Hempco® and the Holmes family are trusted and respected pioneers, innovators and providers of premier hemp seed foods for more than 15 years. Hempco® is recognized as a "company that cares" and guarantees that its customers, all over North America, Europe and Asia, are provided the finest hemp seed foods possible. The Hempco® mandate has grown to "whole crop utilization" and is investigating hemp fiber and hemp CBD nutraceuticals to create a "tri-crop" opportunity for farmers. Hempco® has grown its business significantly and is generating value and profits for shareholders.
We seek Safe Harbor.
ON BEHALF OF THE BOARD
Chief Executive Officer
HEMPCO FOOD AND FIBER INC.
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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, P: 604-685-6465, Vancouver BC, Canada