TSX.V –
HEMP
VANCOUVER, Oct. 29, 2018 /CNW/ - Hempco Food and Fiber Inc.
(TSX.V: HEMP) ("Hempco®" or the "Company") is pleased to announce
the appointment of Larry Karass to
its Board of Directors.
Mr. Karass brings over 30 years of leadership experience in
building consumable businesses in the beverage, nutraceutical,
functional foods, natural products and industrial packaging
sectors. With a degree in international law, Mr. Karass has
held senior management and officer positions with a number of
enterprises, helping guide their growth in markets domestically and
abroad. Mr. Karass currently serves on the boards of several
private and not-for-profit enterprises in the food and other
industries.
"We are pleased to welcome Mr. Karass to the Hempco Board of
Directors as the company continues to implement its global
strategy. His experience in growing successful consumer
packaged goods businesses in competitive markets, make him a strong
addition to our health and wellness-focused company," said
Diane Jang, CEO of Hempco Food and
Fiber Inc. "Larry enhances the diversity of our board, is well
versed with board governance, and we look forward to his guidance
as we navigate this next exciting phase of growth with Hempco."
"I have been assessing board opportunities in the
nutraceutical/functional food space and Hempco stood out to me as a
team that is truly founded on the ethos of promoting wellness and
improving the world at large," said Mr. Karass. "I look forward to
being a part of the company's growth during such a dynamic time in
this emerging industry."
Furthermore, the Company announces that it has granted to its
officers, directors and employees an aggregate of 1,600,000 stock
options, exercisable for a period of five years, at a price of
$1.20 per share.
About Hempco
For more than 12 years Hempco has been a
trusted and respected pioneer, innovator and provider of quality
hemp-based foods, hemp fiber and hemp nutraceuticals. Hempco
produces and markets the brands Planet Hemp and Praise, hemp-based
foods and nutritional supplements for people and animals.
Hempco is expanding its processing ability to meet global demands
in a 56,000 sq. ft. facility located at Nisku, Alberta. Hempco's common shares
trade on the TSX Venture Exchange under the symbol "HEMP".
On behalf of the Boards of
Directors,
HEMPCO FOOD AND FIBER INC
Diane Jang
CEO
The TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release includes statements containing certain
"forward-looking information" within the meaning of applicable
securities law ("forward-looking statements"). Forward-looking
statements are frequently characterized by words such as "plan",
"continue", "expect", "project", "intend", "believe", "anticipate",
"estimate", "may", "will", "potential", "proposed" and other
similar words, or statements that certain events or conditions
"may" or "will" occur. Forward-looking statements in this press
release include the Company's anticipation of further growth, its
expectation that continued spot inspections by the Canadian Food
Inspection Agency will strengthen its standing as a trusted
supplier, its intent to achieve the BRC Global Standard for Food
Safety and its efforts to implement these standards at its
Nisku, Alberta facility, its
expectation that the Nisku
facility will be operational by Fall 2018. These statements
are only predictions. Various assumptions were used in drawing the
conclusions or making the projections contained in the
forward-looking statements throughout this news release.
Forward-looking statements are based on the opinions and estimates
of management at the date the statements are made, and are subject
to a variety of risks and uncertainties and other factors that
could cause actual events or results to differ materially from
those projected in the forward-looking statements. The Companies
are under no obligation, and expressly disclaims any intention or
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise,
except as expressly required by applicable law.
SOURCE Hempco Food and Fiber Inc.