Hempco Food and Fiber Inc. corporate developments
HEMPCO FOOD AND FIBER INC. Symbol: TSX.V – HEMP
VANCOUVER, April 17, 2017 /CNW/ - Hempco Food and Fiber Inc. (TSXV: HEMP) ("Hempco") is pleased to announce that Hempco® has received its "Development Permit" from the County of Leduc and commenced installation for operation of its hemp seed food, hemp nutraceutical and hemp fiber processing equipment at its new 915 - 34 Street Nisku Alberta location.
Hempco® entered into a lease to purchase agreement in November 2016 with REDCO PROPERTIES LTD. (REDCO) of Edmonton Alberta for a 5 acre property with a new 56,000 sq. ft. facility located within site of Highway #2 located just south of Edmonton Alberta city limits. The property has easy year round trucking access, has 72 stalls for staff parking and a large yard expansion for trucks turning around for loading and unloading.
56,000 sq. ft. Building Status and Features:
- occupancy permit and development permit in place, zoned light industrial and agri-food processing, and
- Hempco® has a $400,000 allowance from REDCO for office build out, beginning now, and
- warehouse has 27 ft. – 30 ft. ceilings, solid 8" double rebar sealed concrete floor and driveways, and is water sprinklered, with efficient natural gas radiant heating and 1200 amp 3 phase electrical service, and
- Hempco® has replaced the flourescent lights with more efficient LED lights, and
- upgraded the floor sealant for highest food grade Good Manufacturing Practices (GMP) and BRC international safety and quality control standards.
Function and Capacity (based on 20hr/day, 220 days/year operating):
- up to 5,000 ton/year hemp seed processing capacity producing 2,000 ton of hemp nut and warehousing space in 20,000 sq. ft., sales value is up to CAD$90m/year at going rates.
- up to 20,000 ton/year hemp fiber stock processing capacity producing 5,000 ton hemp fiber and 15,000 ton hemp hurd/shiv and warehousing space in 20,000 sq. ft., sales value is up to CAD$8m/year at going rates.
- up to 2,000 ton /year industrial hemp leaf and flower chaff (@1% low THC CBD) processing capacity producing up to 20 ton extracted full spectrum low THC CBD concentrate in 4,000 sq. ft., sales value is up to CAD$1,000kg x 2,000,000kg /year = $2B at going rates.
- 4,000 sq. ft. clean room area for blending and packaging protein powders, food bars and hemp burgers.
- 8,000 sq. ft. office space, cafeteria, gym, meeting rooms for up to 80 staff.
"It's the perfect location and facility for fulfilling our mandate of "whole crop utilization." We still have a lot of work to do, and more money to spend to get it running the way we want, and we will need to hire many more good people," says CEO Charles Holmes. "The Alberta government has been very supportive. Edmonton is a fantastic resource center for parts, services and skilled labour. Edmonton is also the heart of Canada's longest and sunniest growing hours and some of the best soil with lowest risk from flooding land area for growing industrial hemp. Logistically we couldn't be in a better place. Hempco® has already begun implementing BRC "AA" level safety and quality control measures and software systems that will raise the "hemp industry bar" to produce the highest quality products with the greatest efficiency in a state of the art – "pharmaceutical grade" facility for: hemp food processing, hemp fiber processing and hemp nutraceutical low THC CBD processing."
Hempco® is targeting June 2017 for a grand opening of food and fiber processing.
Hempco® and the Holmes family is a trusted and respected pioneer, innovator and provider of premier hemp seed foods for more than 15 years. Hempco® is committed to a triple bottom line – People, Planet, Profits and to capitalizing on the Hempco® mandate of "whole crop utilization" and developing hemp foods, hemp fiber and hemp CBD nutraceuticals, a "tri-crop" opportunity for producers and processors. Hempco® has grown its business significantly and is generating value and profits for shareholders.
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ON BEHALF OF THE BOARD
Chief Executive Officer
HEMPCO FOOD AND FIBER INC.
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Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason. Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as the decision of the TSXV to reject any grant of options or any person to act as investor relation service providers. Except as required by law, the Company does not intend to update any changes to such statements.
Vancouver BC, Canada
SOURCE Hempco Food and Fiber Inc.
For further information: Don Mosher, VP Capital Markets, [email protected], P: 604-685-6465