Business
HempAmericana Estimates $1M Revenue Yield from First Hemp Harvest at Its Union Farm Facility
HempAmericana Estimates $1M Revenue Yield from First Hemp Harvest at Its Union Farm Facility.
About this update from Hemp Americana Inc
[{"type":"text","content":"\nNEW YORK, Nov. 26, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE – HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”) is excited to announce production results and revenue estimates following the first successful harvest at the Company’s Union Farm hemp growing facility in Union, Maine. \n Planting took place from June 25 thru July 12, and harvest stretched from September 15 thru November 2 due to phenotypic variation, with distinctly different phenotypes represented for each strain grown. This presented an extended harvest as many phenotypes matured at different times.  Total yield from this initial harvest is estimated at 4,000 lbs of hemp flower biomass produced from 3,831 harvested plants. If the Company is able to process this biomass at its state-of-the-art extraction and processing facility in Augusta, HempAmericana management expects the sales yield from this harvest in CBD distillate output to exceed $1 million.  Management notes that this first grow season at Union Farm featured intense infrastructure challenges, rare pests and diseases, a break-in and theft of a number of seedlings, unpredictable weather patterns, and a host of other serious challenges.  In total, due to these adverse factors, the harvest represented less than half of the plant material grown on the property during the season. In total 9,400 hemp plants were cultivated. However, 2,700 of these plants turned out to be male or hermaphrodite specimens, approximately 500 plants were lost to pests or theft, and 2,369 plants were impossible to harvest due to freezing weather or disease.  CEO, Salvador Rosillo stated, “This first grow season was an adventure, to say the least. We battled against pests, nuisances, diseases, inclement weather, and crime. We were prepared for the roller coaster ride, and we handled these challenges with determination and professionalism along the way. We stepped up our game and rescued great success from the jaws of adversity.”  The entire process was managed to organic standards in accordance with both National and Maine Organic Clean Cannabis standards, which should provide for further certification potential in the future.  Management for HempAmericana also notes that it involved a third-party vendor integrally in several stages o...