TSX-V: HEMP
VANCOUVER, Dec. 10, 2018 /CNW/ - Hempco Food and Fiber Inc.
(the "Company" or "Hempco") (TSX-V: HEMP) announced today its
strategic plan to accelerate growth and support the Canadian hemp
industry.
As one of the largest hemp-based food producers in Canada, Hempco will focus on sustaining and
growing the Canadian hemp industry. The Company's five-prong
strategy includes:
- Building new global markets for Canadian bulk hemp products and
its consumer brands Planet Hemp Superfood and Praise Hemp
(nutrition and supplements for animals). To this end, the Company
has and continues to develop new sales channels, including new
market penetration in New Zealand,
new distributor listings for Planet Hemp Superfood and expansion of
the Praise brand into over 200 retail locations across Canada.
- Accelerating innovations aimed at bringing new product
offerings to market for new consumer categories and market
segments. Two new products, Super-Seeds Original and Super-Seeds
Savoury Onion were recently launched under the Planet Hemp
Superfood brand and gaining sales momentum.
- Developing tri-crop opportunities for hemp-based foods, fiber
and nutraceuticals to maximize revenue for farmers, producers and
processors.
- Championing Canadian hemp as a healthy ingredient for food
manufacturers through marketing and other promotional activities,
including key trade shows, to increase visibility of Canadian hemp
and the Company's brands. Hempco participated in its first
ingredient trade show, SupplySide West, Las Vegas on November
8-9, 2018, meeting key prospective buyers. Plant-based
protein was one of the top four hot ingredient trends.
- Taking on an active and essential leadership role with the
Canadian Hemp Trade Alliance (CHTA) to help drive the CHTA's
objectives in promoting Canadian-grown hemp and derivative
products, while working closely with the government on research,
regulations, and international trade efforts and missions.
Hempco's CEO, Diane Jang was
elected to the CHTA's Board on November 19,
2018. She will chair the newly formed, Market Development
Committee. The committee's objective is to market and grow market
share of the Canadian Hemp industry globally.
"We believe that a united effort by all Canadian stakeholders in
the hemp industry, will result in sustained growth," said
Diane Jang, CEO. "As one of the
leaders in the Canadian hemp industry, we believe that we have the
team, infrastructure, networks and assets to successfully execute
on our strategy, strengthen our competitive position on the global
market and support the Canadian hemp industry."
About CHTA
The CHTA is a national organization that promotes Canadian hemp
and hemp products globally. Established in 2003, the Alliance
represents those involved in Canada's hemp industry. Members include
farmers, processors, manufacturers, researchers, entrepreneurs and
marketers.
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 Board of Directors
Diane Jang
Chief Executive Officer
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.