LAS VEGAS, March 10, 2015 (GLOBE NEWSWIRE) — Hemp, Inc. (OTC:HEMP) announced today that after months of waiting, its wholly owned subsidiary, Industrial Hemp Manufacturing, LLC has been given the green light by Nash county to proceed with the reassembly of its Temafa decortication line in North Carolina. In order to issue Hemp, Inc.’s subsidiary its agricultural exemption, the County required the engineering drawings for the line layout and a farm ID number. The company was issued its farm ID number from the North Carolina Department of Revenue and its engineering drawings for the line layout were approved.
David Schmitt, COO of Hemp, Inc.’s (OTC:HEMP) Industrial Hemp Manufacturing, LLC, says he will meet with local farmers on March 18, 2015 to make arrangements to get approximately 2,000 acres of Kenaf planted, which would yield over twenty million pounds of Kenaf for use in 2016. The company currently has approximately 4 million pounds of usable Kenaf on hand and is in the last stages of negotiating the purchase of another 10 million pounds of raw Kenaf, located within 20 miles of the company. Once Industrial Hemp is legal in North Carolina, the company plans to convert its inventory of Kenaf to Industrial Hemp for all products.
With the agricultural permit in place, the Temafa line of equipment inside the plant can be reassembled. Schmitt is currently making arrangements to get the Temafa Engineers to Spring Hope to begin the process. The Temafa line of equipment is the only one of its size and scope in North America and is one of only five in the world. “There are two in South Africa and two others in France that are actually processing industrial hemp,” says Schmitt.
Hemp, Inc.’s purchase of the decortication line of equipment is proving to be a sound strategic decision and is priming the company for success as a leader in the emerging industrial hemp industry. Bruce Perlowin, CEO of Hemp, Inc. (OTC:HEMP), feels the nation is transitioning from non-sustainable synthetic solutions to more hemp-based clean, green solutions. Hemp, Inc. (OTC:HEMP) will be perfectly positioned to process raw hemp which can be used to make paper, fabric, cellulose plastics, materials used extensively in oil and gas drilling to prevent loss circulation, material for toxic spill cleanup, and, highly insulating building products such as Hempcrete… just to name a few.
“We have the only decortication plant of this scale in the United States. This is not only a great revenue producing asset, but it positions Hemp, Inc. as an industry giant,” says Perlowin.
A couple weeks ago, Hemp, Inc. launched its “Breaking News” video updates for its shareholders. Since then, the reconfiguration of the processing plant has been completed. The upgrade of the plant’s lighting system to LED cost-efficient fixtures should be completed by the end of next week.
Hemp, Inc. will continue to provide video content to its shareholders. A current video update will be accessible this week. Thus far, the company’s video updates include:
- News Flash from Hemp, Inc. (posted January 28, 2015) – The first in the “Breaking News” series of videos on Hemp, Inc.’s decortication plant in Spring Hope, North Carolina.
- Hemp, Inc. Plant Update Dec 2014 Part 2 (posted December 22, 2014) – Showed an up-close and personal look at the kenaf on-hand and the parts of the Temafa line of equipment.
- Hemp, Inc. Plant Update Dec 2014 Part 1 (posted December 19, 2014)
- Hemp Inc. Industrial Hemp Plant (posted November 25, 2014) – This video showed the Temafa machinery being disassembled and put on flatbeds to be moved.
- Hemp, Inc. Plant Update (posted September 29, 2014) – Highlighted updates on the move of the decortication equipment to its permanent facility in Spring Hope, NC.
- Hemp, Inc.’s New Decortication Plant (posted September 24, 2014) – This video update described each piece of the equipment and explained the function of each part of the equipment.
- Hemp Decorticator Plant Relocation Update (posted September 23, 2014) – Showed the decortication machinery being transported to its new facility.
- Hemp Kenaf Fiber (posted June 11, 2014) – Highlighted Hemp, Inc.’s first sale of 27,000 pounds of kenaf.
- Hemp, Inc.’s Decorticator (posted May 19, 2014) – David Schmitt explains to viewers how the kenaf is processed and details what the core and fiber are to be used for.
HEMP, INC.’s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC:HEMP) seeks to benefit many constituencies from a “Cultural Creative” perspective thereby not exploiting or endangering any group. Thus, the publicly-traded company believes in “upstreaming” of a portion of profit from the marketing of their finished hemp goods back to its originator as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of people, planet, and profits—our triple bottom line approach can be an important tool to support sustainability goals.
SAFE HARBOR ACT
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: 1-855-HEMPOUT Hemp, Inc. Investor Relations
Copyright © 2015 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.