Hemp, Inc. Announces Stock Share Agreement with Gunpowder Capital Corporation

GlobeNewswire - finance.yahoo.com Posted 5 years ago

Spring Hope, NC, Feb. 26, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Hemp, Inc. (OTC PINK: HEMP), a global leader in the industrial hemp industry with bi-coastal processing centers including the 85,000 square-foot multipurpose industrial hemp processing facility in Spring Hope, North Carolina, a state of the art processing center in Medford, Oregon, and a 500-acre hemp growing Eco-Village in Golden Valley, Arizona, announced today that the Company has agreed upon a stock share with Gunpowder Capital Corporation, a Canadian merchant bank and advisory services firm.

The stock share will be Gunpowder Capital Group’s first foray into the hemp industry. Seeing the high demand for hemp throughout the United States, both companies agree that with the opening of enormous opportunities in the hemp industry through the 2018 U.S. Farm Bill, the market is going to experience great growth through the coming months and years. 

“With the increased focus on the hemp industry throughout the United States, and even the world, Hemp, Inc. is happy to be the first to welcome Gunpowder Capital Corporation into this evolving industry,” said Hemp, Inc. CEO Bruce Perlowin. “Since the legalization of hemp in the Farm Bill in 2018, we have seen states pull out every stop to help get their farmers growing hemp as soon as possible to allow for increased income and jobs to fill the demand. There is no better time to enter this industry than today.”

Hemp is an industry that is expected to improve the economy of each state that grows it. In fact, hemp revenue is expected to grow 27 percent annually, and become a $5.7 billion industry by the year 2020. Hemp, unlike cannabis, is a non-psychoactive product that can be used for a variety of industrial items such as food, clothing, building materials, cleaning up oil spills, and amending soil. According to Congressional Research Service, until recently, the U.S. imported, on average, $100 million of hemp products each year. Legalization will now allow American farmers and companies to fill that demand.

“We are excited to enter the hemp industry at such a pivotal time in history,” said Gunpowder Capital Corporation CEO Frank Kordy. “We have watched this market for some time waiting for the appropriate time to enter this lucrative and fast growing U.S. hemp market. We have chosen Hemp, Inc. to speed our entry into the US market with its potential benefits to our shareholders.

“The U.S. has enormous farming infrastructure and access to vast amounts of arable land. Coupled with the change in U.S. law, it will allow the U.S. to soon become a world class exporter of hemp products instead of mostly importing hemp products. It is our desire to capitalize on that opportunity and we believe Hemp, Inc. can put us on the fast track to achieving that goal,” added Kordy.

Currently, 25 states are already growing hemp, with many more on their way to approval of regulations. In Arizona, a state that is hoping to fast-track a bill to make hemp farmable by June 2019, Hemp, Inc. is already preparing for the boom through their partnership with Veteran Village Kins Community. The community is a solar and wind-powered facility on 500 acres that is designed to grow hemp and produce cannabidiol (CBD) products. The products will benefit veterans, as well as generate revenue for Hemp, Inc. 

“We are ready to continue the progression of The Great United American Hemp Grow-Off,” added Perlowin. “To do so, we will be working alongside growers from multiple states and looking for additional partnerships so we can do our part to blast through the predicted $5.7 billion dollars in hemp industry sales. In the past, the United States imported millions of dollars in hemp products each year, and now, the hard working American people can tap this market.”  

Hemp, Inc.’s Local Processing Center in Medford, Oregon is one of the most sophisticated processing centers focusing on hemp flower drying, curing and post-processing for the CBD hemp industry. Hemp, Inc. is planning further significant investment in the Southern Oregon area to expand the services it offers local farmers.

In addition to the United States hemp industry, Perlowin has also been scouting land in Puerto Rico. Recently, the Puerto Rico Governor signed an executive order to implement the hemp industry in the U.S. territory. The land would be used to support a Veteran Village Kins Community to create a highly profitable and environmentally conscious industrial hemp industry. Puerto Rico has a projected growth rate of over 17% and a huge demand for hemp-derived CBD products. Perlowin is confident the industrial hemp industry will reinvigorate the economy of this island and create income for struggling small family farms.

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To see 1 minute videos of Hemp, Inc.’s current activities, go to Bruce Perlowin’s personal Facebook page where he posts daily on all of Hemp, Inc.’s activities around the country.

ABOUT HEMP, INC.

With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. As a leader in the industrial hemp industry with ownership of the largest commercial multi-purpose industrial hemp processing facility in North America, Hemp, Inc. believes there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

HEMP, INC. UPDATES SHAREHOLDERS ON ITS STRATEGIC PLAN AND CURRENT FOCUS TO HELP BUILD THE INFRASTRUCTURE FOR THE INDUSTRIAL HEMP INDUSTRY

For the past few years, Hemp, Inc. has grown and evolved with the industrial hemp industry, giving it unique insight into the pain points faced by small family farms and other companies in the industry.  "We know how vital it is to take the time to build the infrastructure to support such a high demand and we've invested heavily in the expertise and experience to make this happen. This is just the start," said Perlowin.

So far, there are seven divisions:

Division One – The Industrial Hemp Infrastructure

The Industrial Hemp Infrastructure (Division One) currently consists of two hemp processing facilities across the country, with a third under development, which will include an in-house third party testing laboratory.  The largest of the two is its multi-purpose industrial hemp processing facility and milling operation in Spring Hope, North Carolina. It’s the largest “industrial hemp processing center” in the western hemisphere and has grown to become the pre-eminent center of the industrial hemp industry. The 85,000 square foot facility sits on a 9-acre campus. It is environmentally sustainable and was built from the ground up in hopes of “Making America Hemp Again."  With a patent pending manufacturing process, the North Carolina facility is operating full time to process millions of pounds of our unique kenaf, hemp blend, to manufacture all green natural loss circulation materials (LCMs) that are to be sold to the oil and gas drilling industry, along with an all green natural oil spill absorbent, a second industrial hemp/kenaf product called Spill-Be-Gone.

(To see a one-minute video of the millions of pounds of kenaf, go to Bruce Perlowin's personal Facebook page, September 7th, 11th, 13th, 20th and 22nd, 2018.) 

In addition to the company’s industrial hemp processing facility in Spring Hope, North Carolina, Hemp, Inc. also has one the most sophisticated local processing centers (LPC) in Medford, Oregon which focuses on hemp flower drying, curing, and post processing for the CBD industry.

Hemp, Inc. also has 4,500 acres of land in Golden Valley, Arizona.  Out of the 4,500 acres of land, 500 acres have currently been designated for the Veteran Village Kins Community (VVKC).  Hemp, Inc. is actively building out 300 of those 500 acres for hemp cultivation. The company aims to boost the economies of these towns by offering affordable hemp processing services, which incentivizes local growers to add hemp to their crop rotation. The company is continuing to scout new locations for local processing centers in Florida, Puerto Rico, West Virginia, Kentucky, Pennsylvania, New Hampshire and several other states.

Thus far, Hemp, Inc.’s Local Processing Center (LPC) in Oregon has created over 200 seasonal jobs as well as many year-round jobs.

Division Two – The Hemp Farming Infrastructure

The Hemp Farming Infrastructure (Division Two) consists of hundreds of acres of hemp and kenaf growing in multiple locations, farm equipment, cloning rooms, clones and seeds, grow rooms, greenhouses, hemp drying facilities and a huge amount of peripheral farming tools and equipment. (Some of this farming infrastructure can be seen on Bruce Perlowin's personal Facebook page in some of his older posts from  Sept. 8th, Aug. 30th, 19th, 15th - 11th, 9th and 4th, July 31st, 29th, 21st - 16th, 2018.)

Hemp, Inc. also has a model “Small Family Farm” in North Carolina situated on 12 acres that consists of a cloning room, a greenhouse, and enough land to grow 2,000-3,000 high CBD hemp plants. (This model farm can be seen on Bruce Perlowin's Facebook page, in the Aug. 22nd - 26th, 2018 posts.) By showing farmers how to grow high CBD hemp plants, operate a greenhouse and turn a barn into a cloning room to earn $500,000 a year, the “Small Family Farm” can reappear on the American landscape. After all, the original small family farms in America were able to survive economically by growing hemp as their main cash crop and the first 5 presidents of the United States were all hemp farmers.

According to Perlowin, the company is preparing to grow on 500 plus acres of land in Oregon, 300 acres in Arizona (maybe more), hundreds of acres in NC (combination of hemp and kenaf), and an undetermined amount in Puerto Rico.