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HempAmericana Inc. Executes Lease for High-Capacity CBD Oil Production Facility Site in Maine; Two-year Lease on Massive 17k Sq Ft Permit-Ready Facility Commences December 1
HempAmericana Inc. Executes Lease for High-Capacity CBD Oil Production Facility Site in Maine; Two-year Lease on Massive 17k Sq Ft Permit-Ready Facility Commences December 1.
About this update from Hemp Americana Inc
[{"type":"text","content":"\n\n NEW YORK, Nov. 30, 2017 (GLOBE NEWSWIRE) -- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to announce that the Company has fully executed the lease for a 17,000-square foot state-of-the-art facility in Augusta, Maine, which will serve to house the Company’s principal CBD extraction and production operations beginning December 1, 2017.\n Management believes this site will provide an exceptional home for its massive 200-Liter Super Critical CO2 Extractor Machine, which is set to be delivered in less than 60 days. The site was selected over other potential locations on the strength of several key factors: the building has recently received roughly $20,000 in new upgrades to both exterior and interior features,the site’s interior is exceptionally well-suited to the company’s vision for its production operations,it has 2 large loading docks and one drive-in loading bay for easy freight operations,the site is located in Maine’s capital city very near a major highway to ease delivery accessibility,it has already been approved for horticultural operations, which should facilitate easy access to CDB production permits,and the leasing entity has agreed to provide for a purchase of the property in three years at fair market value. Salvadore Rosillo, HempAmericana’s CEO, commented, “This is perhaps the perfect site for us. We couldn’t be more excited about the fit. We are preparing to launch what may become one of the foremost CBD Oil production operations in the country in coming weeks. But that puts a lot of balls in the air. You have to think about permitting, delivery accommodations, housing the machinery, operational flow. We knew we needed to hit a home run in terms of the site. With this lease, we feel confident we did just exactly that.” Management has been most focused on meeting growing demand estimates. The CBD Oil product market has been the fastest growing segment of the cannabis sector over the past year, and is projected by some analyst firms to continue to outpace all other areas over the next 3 years, according to a recent study published in Forbes. Hemp Business Journal estimates the hemp industry will grow to $1.8 billion in sales by 2020, led in part by CBD oil-based products such as those set to be produced at HempAmericana’s new facility...