Business
HempAmericana Announces Significant Increase in CBD Production Following Rapid Inventory Drawdown Through Online Sales Activity
HempAmericana Announces Significant Increase in CBD Production Following Rapid Inventory Drawdown Through Online Sales Activity.
About this update from Hemp Americana Inc
[{"type":"text","content":"\n NEW YORK, Nov. 21, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”), an emerging leader in the CBD products market, is pleased to announce that the Company has begun to substantially increase its rate of production of CBD-based products in response to stronger than anticipated ecommerce demand following the full launch of its online sales portal.  The Company is also excited to report that, due to this strong market response, HempAmericana will be upgrading its ecommerce platform to further amplify its digital presence and drive further growth in sales. “We have seen a massive market response as we ramp up our initial ecommerce distribution activity,” commented Salvadore Rosillo, CEO of HempAmericana. “It’s working. And our number one concern is delivering shareholder value, which means we are ready and willing to facilitate further expansion through this channel.”  The Company is also very pleased to see powerful steps being taken by lawmakers now pushing for US legalization of cannabis. The House Judiciary Committee approved a Bill on Wednesday that would decriminalize marijuana at the federal level. The Marijuana Opportunity Reinvestment and Expungement Act of 2019 (the “MORE Act”) passed by a wide margin, 24-10, with bipartisan support.  The Company applauds this step, which holds the potential to level the playing field for the cannabis and hemp-related products marketplace, laying a foundation whereby companies in these industries will be treated as law-abiding citizens, gaining access to the infrastructural resources that other industries take for granted, such as the banking system.  Mr. Rosillo continued, “After everything we’ve invested in this process, it’s tremendous to see the wheels in motion and product going out the door. The fact that it’s going out the door faster than we anticipated is a great problem to have. And we know exactly how to deal with it. It’s also terrific to see the gradual and seemingly inexorable process of full cannabis legalization in the US speed up a notch. We’re very excited about the opportunities that lie ahead.”  About HempAmericana, Inc. HempAmericana is an emerging leader in the CBD pr...