Business
HempAmericana Provides Update on Production Schedule; CBD Oil Production to Kick off in January, 2018: On Target
HempAmericana Provides Update on Production Schedule; CBD Oil Production to Kick off in January, 2018: On Target.
About this update from Hemp Americana Inc
[{"type":"text","content":"\n\n NEW YORK, Jan. 04, 2018 (GLOBE NEWSWIRE) -- – via OTC PR WIRE-- HempAmericana, Inc. (OTC:HMPQ) (the “Company”) is excited to announce that the Company is currently on schedule to meet its principal CBD Oil production operational benchmarks, with initial product roll-out still slated for its January 2018 target.\n HempAmericana management is pleased to report on specific key milestones, all of which are now on schedule in an unimpeded manner: Final testing on the Supercritical CO2 Extractor Machine is now set for the week of January 8, 2018, by the manufacturer.Delivery of the Supercritical CO2 Extractor Machine is scheduled to take place this month.As previously announced, the Company has negotiated Hemp raw stock purchases in sufficient quantities to allow for aggressive production targets. The raw Hemp supply is set for delivery to the Company’s principal CBD Oil production facility in Augusta, Maine before the end of January 2018.The Supercritical CO2 Extractor Machine was purchased with a financing agreement from Vitalis Extraction Technology, Inc. The Company is proud to announce that it has now delivered payment in full for 90% of its total associated outstanding financial obligation in cash.The Company’s build-out of its Maine facility is progressing on time and will be ready for delivery of all associated production machinery and material before end of month, along with expected Permits. Management believes this represents a series of major milestones as the Company continues to pivot into a leadership role in the CBD Oil product space. Analysts have pegged the CBD oil product manufacturing segment to be the most aggressive growth facet of the cannabis sector over coming years. As previously announced, the Company has a 10-Liter machine already scheduled for production. Augmenting that production with the massive impact of its new 200-Liter machine should quickly legitimate the Company as an elite player in a market recently projected by Hemp Business Journal to grow to $2.1 billion in total annual sales by 2020. Company CEO Salvador Rosillo stated, “We had a concrete vision outlined as of the end of Q2 2017. But it’s no less extraordinary to watch the final pieces come into place. Our goal has been clear from the start: to become a major producer in the Hemp Oil space. And ...