VANCOUVER, Dec. 28, 2017 /CNW/ - Hempco Food and Fiber Inc. (TSX.V: HEMP) ("Hempco®") is pleased to provide an update to the news release dated December 27, 2017.
With the graduation to a Tier 1 listing, the underlying CPC common shares of Hempco previously held pursuant to the rules of the TSXV will now be governed by the release provisions of Tier 1 Issuer escrow. As such, an aggregate of 191,250 common shares escrowed under the original CPC agreement will be eligible for release from escrow immediately.
About Hempco Food & Fiber Inc.
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 56,000sq. 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 of Directors,
HEMPCO FOOD AND FIBER INC.
Diane Jang, CEO
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. 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 Company is 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. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of Toronto Stock Exchange) accepts responsibility or the adequacy or accuracy of this release.
SOURCE Hempco Food and Fiber Inc.
For further information: For Hempco: John Ross, Chief Financial Officer, HEMPCO FOOD AND FIBER INC., T: +1 647-291-4234, [email protected]