Business
HempAmericana CEO Addresses Company Expansion Following Strong Orders
HempAmericana CEO Addresses Company Expansion Following Strong Orders.
About this update from Hemp Americana Inc
[{"type":"text","content":"\nNEW YORK, June 12, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”) CEO issues the following letter to Shareholders:\n Dear Valued Shareholder, As we begin to establish growing momentum in our core CBD Oil production and distribution business, I wanted to take this opportunity to express our gratitude for your commitment and loyalty to our long-term value proposition and to discuss our current opportunities and our roadmap as we gear up to execute on the powerful opportunities that lie ahead. As you know, we have commenced bottling 500mg and 1000mg full-spectrum CBD distillate in our state-of-the-art CBD extraction and production facility in Augusta, Maine. Our inaugural production expectations are set at production of 2,000 bottles per day with a gradual increase to 8,000 bottles per day to fill demand. We already have over 50,000 bottles of full-spectrum distillate bottled and ready to ship with tens of thousands to follow. We are also bottling a 250mg potency, which is perfect for the CBD-for-pets market. And, on the high end, we are also bottling 2500mg and 5000mg strengths, but we can replicate any formula. Much of this production will be distributed under our proprietary brand, “Weed Got Oil”. But we are also actively pursuing a major place in the white label market for premium full-spectrum distillate CBD oil. There are over 400 brands now in the CBD space, and most of them turn to a major high-capacity producer, like HempAmericana, to build up an inventory of product. For example, we recently announced a new relationship with Eagle Hemp of Florida (“Eagle Hemp”), located in the West Palm Beach area. This relationship now comprises an initial large purchase order and a clear path for a continuing series of purchase orders set to roll out over coming months and quarters. The terms of the deal provide a window into the framework we have been working toward as we leverage our capital investments in our Augusta facility for the white label opportunity. We are set to receive strong demand at strong terms, including compensation for high-volume production of our premium CBD Oil output as well as our bottling technology. In all, just in the first of these planned orders, we will receive a substantial revenue input, wit...