Business
Cannabis Investor Magazine Featured Company HempAmericana To Purchase Second CBD Oil Extraction Machine
Cannabis Investor Magazine Featured Company HempAmericana To Purchase Second CBD Oil Extraction Machine.
About this update from Hemp Americana Inc
[{"type":"text","content":"As Cannabidiol (CBD) Demand Escalates in the Legal Marijuana Market, HempAmericana Takes Steps to Expand Productive CapacityNEW YORK, NY / ACCESSWIRE / August 29, 2017 / HempAmericana, Inc. (OTC PINK: HMPQ) announced today that it has received approval for financing related to the acquisition of a second CBD Oil extraction machine. This machine is anticipated to be twice the size of the Company's current machine and is expected to powerfully expand the Company's productive capacity. Notably, this expansion comes as the Company has indicated that it is in late-stage negotiations with at least two potential key partnerships.The cannabidiol (CBD) market is estimated to grow by 700% by 2020, according to Forbes. A new report by market intelligence firm Hemp Business Journal projects that the CBD market will grow to $2.1 billion by 2020, representing a powerful jump in value compared to last year's CBD market of $202 million. The report continues to paint an even more bullish picture, projecting a $3 billion CBD market by 2021.CBD is one of the more than 85 cannabinoids so far identified in marijuana and hemp. Unlike the better-known compound tetrahydrocannabinol (THC), CBD is not psychoactive. Numerous studies have shown that CBD appears to possess an array of therapeutic benefits, including antioxidant and neuroprotective properties.HempAmericana, Inc. (HMPQ) has been aggressively involved in negotiations on several fronts, according to recent communications from the Company, with major deals in the works with partners in Maine and New York. These partnerships imply the potential for a growth in demand from the Company in terms of core productive capacity for CBD Oil extraction. That justifies the need for management to invest in a surge of capacity to meet this rising demand scenario.Salvadore Rossillo, CEO states, \"This has been our strategy all along, we want multiple machines in operation while we become a dominant player in the CBD Oil space.\" He further stated, \"We've visited many sites recently and this 2nd purchase will be placed in one of them which we shall be announcing to our shareholders this week. I could not be more excited to talk about these new events in a large publication such as the CannaInvestor Magazine www.cannainvestormag.com and on the CannaInvestor Webcast www.cannawebcast.com this September. We have b...