Hempco Food and Fibre Selected as Featured Company in Video by InvestmentPitch Media - Video Available on InvestmentPitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 21, 2017) - Hempco Food and Fibre (TSXV: HEMP) is featured in video by InvestmentPitch Media. The company began trading on the TSX Venture Exchange in April 2016, following a qualifying transaction with capital pool company "Genview Capital".
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Hempco was historically a family run business with over 15 years of experience in the hemp seed industry.
Hemp seeds are one of the most essential nutrient dense and balanced foods available, providing an excellent easily digestible source of protein and balanced good fats for human health.
Hempco is one of the world's largest producers of industrial hemp products, and currently offers three primary product lines:
- bulk and packaged food products, such as hemp protein powder, hemp seed nut/ hearts, and hemp seed oil
- hemp fibre; and
- functional food/nutraceuticals.
Hempco's line of consumer packaged goods are sold under the brand "PLANETHEMP" (www.planethemp.ca)
To meet global demands, with products distributed in seven countries, the company is expanding its processing ability in a 56,000-square foot facility located at Nisku, Alberta.
The company recently announced that Aurora Cannabis is purchasing 10,558,676 units at $0.3075 per unit for gross proceeds of $3.2 million. Each unit consists of one share and one full warrant, with each warrant exercisable at $0.41 for 24 months, subject to an acceleration clause. Following this investment, which is subject to regulatory and Hempco shareholder approval, Aurora will own 19.9% on a fully diluted basis.
Charles Holmes, CEO of Hempco, stated: "This transaction will greatly accelerate our commercial development, enabling us to aggressively pursue growth in the hemp-based dietary supplements industry, and become a meaningful supplier to Aurora of CBD-containing raw material. I look forward to working with the Aurora team in taking Hempco to the next level in its development."
Terry Booth, CEO of Aurora, stated: "Having successfully completed due diligence, we have decided to progress with our strategic investment in Hempco, thereby gaining access to a rapidly growing health supplement market, as well as securing considerable quantities of low-cost raw material for the potential future production of CBD extracts. The diversification that our investment in and collaboration with Hempco brings to Aurora further strengthens our position as innovation leader in the industry, and we look forward to executing on our partnership with Hempco."
Should regulations change to allow for extraction of CBD from hemp, Hempco will provide Aurora with the right of first refusal to purchase all of the industrial hemp flowers and leaves that Hempco can acquire for extraction of CBD.
For the nine months ended May 31, 2017, the company reported sales of $5.0 million an increase of 28%, from $3.9 million reported for the period ended May 31, 2016.
The shares are trading at $0.38, and with 34.5 million shares outstanding, the company is capitalized at $13.1 million.
For more information, please visit the company's website www.HempcoCanada.com or contact Charles Holmes CEO at 604-431-8787- ext 102, or by email charles@HempcoCanada.com, or John Ross, CFO, at 647-291-4234 or email john@HempcoCanada.com.
About InvestmentPitch Media
Investmentpitch Media leverages the power of video, which together with its extensive distribution to retail, institutional and accredited investors, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.
Barry Morgan, CFO
Source: Newsfile Corp.