TSX.V – HEMP
VANCOUVER, Dec. 29, 2017 /CNW/ - Hempco Food and Fiber Inc. (TSX.V: HEMP) ("Hempco®" or the "Company") is pleased to announce that, effective immediately, the Hempco Board of Directors has appointed Diane Jang as a director of Hempco. Ms. Jang was appointed CEO for Hempco effective December 11, 2017. She was appointed to the Board of Directors of Aurora Cannabis at its AGM held November 13, 2017.
With over 27 years of business experience in the Consumer-Packaged Goods industry, Ms. Jang has a proven track record in strategic planning, business development and increasing profitability. Previously, Ms. Jang has successfully led companies in the Consumer-Packaged Goods sector as President at Sunrise Soya Foods and General Manager at Earth's Own Food Co Inc., and also serves as a Director of Big Sisters of BC Lower Mainland. Ms. Jang holds a Bachelor of Business Administration from Simon Fraser University.
Stock Option Grant
The Company further announces that it has granted 200,000 stock options (the "Options") to Ms. Diane Jang, at an exercise price of $1.88 per Option. Each Option will have an exercise term of three (3) years and vesting will be determined by management.
For more than 12 years Hempco has been a trusted and respected pioneer, innovator and provider of premier hemp seed foods. Hempco is committed to developing hemp foods, hemp fiber and hemp nutraceuticals, a "tri-crop" opportunity for producers and processors. Hempco is expanding its processing ability to meet global demands in a 56,000 sq. ft. facility located at Nisku, Alberta. Hempco's common shares trade on the TSX Venture Exchange under the symbol "HEMP". Hempco has grown its business significantly and is generating value and profits for shareholders.
ON BEHALF OF THE BOARD
HEMPCO FOOD AND FIBER INC.
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements in this press release include the Company's anticipation of further growth, its expectation that continued spot inspections by the Canadian Food Inspection Agency will strengthen its standing as a trusted supplier, its intent to achieve the BRC Global Standard for Food Safety and its efforts to implement these standards at its Nisku, Alberta facility, its expectation that the Nisku facility will be operational by Winter 2017/2018, and its belief that the investment agreement with Aurora will be approved by its shareholders and help accelerate further growth. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Companies are under no obligation, and expressly 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 expressly required by applicable law.
The 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.
SOURCE Hempco Food and Fiber Inc.
For further information: John Ross, Chief Financial Officer, HEMPCO FOOD AND FIBER INC., [email protected], P: 647-291-4234