VANCOUVER, March 14, 2018 /CNW/ - Hempco Food and Fiber Inc. ("Hempco" or the "Company") (TSX-V: HEMP) today announced the Company has signed a market making agreement with Trapeze Capital Corp. ("Trapeze")
The Company has retained Trapeze Capital Corp. of Toronto, Canada to provide market-making services in accordance with TSX-V policies. Under the terms of their agreement (the "Agreement"), Trapeze will receive cash compensation of $5,500 per month and will not receive any Common Shares or options of Hempco as compensation. Trapeze does not currently own any securities of Hempco, however, Trapeze and its clients may acquire a direct interest in the securities of Hempco. Hempco and Trapeze are unrelated and unaffiliated entities, and the principals of Trapeze are Herb Abramson, Randall Abramson and Adam Abramson. Trapeze is a member of the Investment Industry Regulatory Organization of Canada, a participating organization of TSX and a member of TSX-V. The capital and securities required for any trade undertaken by Trapeze as principal will be provided by Trapeze. The Agreement is for an initial term of 180 days, with automatic renewals for a further 180 days unless terminated.
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".
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.
Neither TSX-V, nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.
SOURCE Hempco Food and Fiber Inc.
For further information: John Ross, Chief Financial Officer, +1.647.291.4234, firstname.lastname@example.org