VANCOUVER, British Columbia, March 19, 2020 /CNW/ -- CanaFarma Hemp Products Corp. (CSE: CNFA)(formerly KYC Technology Inc.) (the "Corporation" or "CanaFarma Hemp") is pleased to announce that it has signed a lease for 100 acres of farmland in Cato, New York, almost doubling the size of the farm the Company had in 2019.
In 2019, CanaFarma Hemp worked a 55 acre farm in New York State and delivered 128,000 lbs. of Hemp Biomass, achieving a yield of over 2,300 lbs. per acre which is 50% better than the average farm yield, which the management of the Company believe to be in the range of 1,500 lbs. per acre. Furthermore, the CBD potency of the Biomass was over 14%, compared to the average potency which is believed to be approximately 10%.
David Lonsdale, CEO of CanaFarma commented: "We are obviously very pleased with the harvest we achieved in 2019 and we will be endeavoring to continue this level of performance in 2020".
CanaFarma Hemp is also actively looking at further expanding its Farm acreage both in New York State and in neighboring States.
About CanaFarma Hemp Products Corp.
CanaFarma Hemp is a full-service company operating in the hemp industry offering a full range of hemp-related products and services. These products and services include growing top-quality hemp, providing hemp-processing services, and offering hemp-based products to consumers utilizing a direct-to-consumer marketing approach.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to future developments and the business and operations of the Corporation after the CSE listing. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to general business, economic, competitive, political and social uncertainties; and delay or failure to receive board, shareholder or regulatory approvals. Readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
FOR FURTHER INFORMATION, PLEASE CONTACT: David Lonsdale Chief Executive Officer, Phone: (214) 704-7942 Email: [email protected]