Business
HempAmericana Announces New Agreement to Become Principal Supplier for Florida-based CBD Brand
HempAmericana Announces New Agreement to Become Principal Supplier for Florida-based CBD Brand.
About this update from Hemp Americana Inc
[{"type":"text","content":"\nNEW YORK, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”), an emerging leader in the CBD products market, is excited to announce that the Company has agreed to terms with an Emerging Hemp distributor of Florida for an initial purchase of 27 kg of white-label bottled CBD Oil at a rate of $6,500/kg, representing the initial purchase order in a continuing supplier relationship.\n The purchase order also contains specified terms for bottling and delivery of CBD Oil products. The Hemp distributor has agreed to pay HempAmericana $3/bottle for providing and employing bottling materials to produce 30 ml bottles of CBD Oil in MCT oil base, with each bottle containing 750mg, 1000mg, or 1500mg of CBD Oil, as specified by the Hemp distributor. The Hemp distributor has also agreed to provide all labeling and packaging materials and will cover all shipping charges associated with product delivery. In return, to document compliance with Federal regulations, HempAmericana has agreed to provide a Certificate of Analysis and Batch Number for each batch of CBD Oil produced and provided in fulfillment of the contract. “We see tremendous promise in this new relationship with this Hemp distributor,” commented Salvador Rosillo, CEO of HMPQ. “Now that we are ramping up production at our Maine facility, we anticipate a steep sales growth curve through the remainder of the year, leveraging both our proprietary label distribution and white label supplier relationships like this one. Only a fraction of the total addressable market for CBD products has been tapped, but increasing adoption by mainstream consumers suggests the wick has been lit.” Management agrees with the majority of sell-side analysts and researchers in the guiding premise that the CBD marketplace is set to continue to operate in “boom” conditions for a considerable period in the quarters ahead given the acceleration in mainstream adoption of CBD-based products by US consumers thus far in 2019. “One of the best decisions we made last year was outfitting our primary production facility with the capacity to produce heavy volume output,” continued Mr. Rosillo. “Our extraction and production line equipment is likely going to be put to the t...