Access to 1,900 store retail network serviced by Kane Vet
VANCOUVER, March 19, 2018 /CNW/ - Hempco Food and Fiber Inc. ("Hempco" or the "Company") (TSX-V: HEMP) today announced the Company has signed a distribution agreement with Kane Veterinary Supplies ("Kane Vet") for Hempco's Praise line of hemp animal supplements for the canine and equine markets.
Kane Vet, founded in 1969, is a Canadian wholesale distributor and manufacturer agent, providing a wide range of products to the veterinary, pet, agricultural and equine markets across Canada. Through Kane Vet, Hempco will gain access to a retail network of up to 1,900 pet stores that carry products supplied by Kane Vet, as well as to the veterinary and equine market. A first purchase order was placed by Kane Vet.
Hempco launched its Praise line of products in 2017 and is now executing on its go to market strategy. The response to Praise products by veterinarians and other professional animal carers has been exceptionally positive. Hemp is a multi-faceted animal supplement, providing the ideal recommended 1:3 ratio of omega 3 and 6 essential fatty acids, fibre, and plant-based protein containing 10 essential amino acids that is easily digestible. Canines and equines supplementing hemp oil, topping and protein fiber as part of their diets have been found to experience health and general well-being benefits of the immune system, digestion, mobility, energy and cardiovascular health.
"This is a very important partnership with Kane Vet that has significant potential to generate substantial sales of Praise products into pet retail, veterinary and equine markets across Canada," said Diane Jang, CEO. "The animal supplement market is one of our focus areas to drive growth in 2018, and by having our products carried by one of the most important wholesale distributors in the country, we are exceptionally well positioned to increase market penetration. We look forward to working with Kane Vet on increasing market reach."
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".
On behalf of the Board of Directors
Chief Executive Officer
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. Hempco 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.
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SOURCE Hempco Food and Fiber Inc.
For further information: John Ross, Chief Financial Officer, +1.647.291.4234, [email protected]