Charles Holmes Appointed President
HEMPCO FOOD AND FIBER INC. Symbol: TSX.V – HEMP
VANCOUVER, Nov. 14, 2017 /CNW/ - Hempco Food and Fiber Inc. ("Hempco") (TSX-V: HEMP) today announced that effective December 11, 2017, Diane Jang has been appointed as its new CEO. Further to the investment agreement between Aurora and Hempco, Ms Jang will be succeeding Charles Holmes, who will continue to serve as Hempco's President in order to focus on the commercial development of the organization.
Ms. Jang, who was appointed to the Board of Directors of Aurora Cannabis at its AGM held November 13, 2017, is an experienced business executive, having led several companies in the premium foods and plant-based protein sectors to become leaders in their industry. With over 27 years of business experience in the Consumer-Packaged Goods industry, she has a proven track record in strategic planning, business development and increasing profitability. Previously, Ms. Jang led successful companies 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.
"We are delighted to appoint Diane, whose deep background in Consumer-Packaged Goods within the retail and natural foods industry, has agreed to take the helm at Hempco," said Allan Cleiren, COO of Aurora and Board member for Hempco. "We are very excited about our investment in Hempco and the opportunities our collaboration creates for both companies, and we look forward to working closely with Diane, Charles and their team to take Hempco to the next level."
Ms Jang added, "Hempco is exceptionally well positioned to capitalize on a large number of opportunities due to the extreme versatility of Hemp as a plant-based protein source and superfood. Beyond that, if plant utilization legislation will change as we anticipate, Hempco, through its collaboration with Aurora, can play a meaningful role in supplying raw material for the production of CBD oil, as well as leverage its commercial infrastructure as a strong go-to-market tool. I am very excited about this opportunity, and look forward to being part of the Hempco team."
Mr. Holmes added, "The appointment of Diane significantly strengthens our management team and allows us to focus on pursuing continued growth through expansion of our sales domestically and internationally, as well as the introduction of new product lines. I am very pleased being able to now fully focus on executing our whole-plant-utilization vision."
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
Chief Executive Officer
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