Hempco Food and Fiber Inc. corporate
developments
HEMPCO FOOD AND FIBER INC. Symbol: TSX.V – HEMP
VANCOUVER, April 17, 2017 /CNW/ - Hempco Food and Fiber Inc.
(TSXV: HEMP) ("Hempco") is pleased to announce that Hempco® has
received its "Development Permit" from the County of Leduc and commenced installation for operation
of its hemp seed food, hemp nutraceutical and hemp fiber processing
equipment at its new 915 - 34 Street Nisku Alberta
location.
Hempco® entered into a lease to purchase agreement in
November 2016 with REDCO PROPERTIES
LTD. (REDCO) of Edmonton Alberta
for a 5 acre property with a new 56,000 sq. ft. facility located
within site of Highway #2 located just south of Edmonton Alberta city limits. The property has
easy year round trucking access, has 72 stalls for staff parking
and a large yard expansion for trucks turning around for loading
and unloading.
56,000 sq. ft. Building Status and Features:
- occupancy permit and development permit in place, zoned light
industrial and agri-food processing, and
- Hempco® has a $400,000 allowance
from REDCO for office build out, beginning now, and
- warehouse has 27 ft. – 30 ft. ceilings, solid 8" double rebar
sealed concrete floor and driveways, and is water sprinklered, with
efficient natural gas radiant heating and 1200 amp 3 phase
electrical service, and
- Hempco® has replaced the flourescent lights with more efficient
LED lights, and
- upgraded the floor sealant for highest food grade Good
Manufacturing Practices (GMP) and BRC international safety and
quality control standards.
Function and Capacity (based on 20hr/day, 220 days/year
operating):
- up to 5,000 ton/year hemp seed processing capacity producing
2,000 ton of hemp nut and warehousing space in 20,000 sq. ft.,
sales value is up to CAD$90m/year at
going rates.
- up to 20,000 ton/year hemp fiber stock processing capacity
producing 5,000 ton hemp fiber and 15,000 ton hemp hurd/shiv and
warehousing space in 20,000 sq. ft., sales value is up to
CAD$8m/year at going rates.
- up to 2,000 ton /year industrial hemp leaf and flower chaff
(@1% low THC CBD) processing capacity producing up to 20 ton
extracted full spectrum low THC CBD concentrate in 4,000 sq. ft.,
sales value is up to CAD$1,000kg x
2,000,000kg /year = $2B at going
rates.
- 4,000 sq. ft. clean room area for blending and packaging
protein powders, food bars and hemp burgers.
- 8,000 sq. ft. office space, cafeteria, gym, meeting rooms for
up to 80 staff.
"It's the perfect location and facility for fulfilling our
mandate of "whole crop utilization." We still have a lot of work to
do, and more money to spend to get it running the way we want, and
we will need to hire many more good people," says CEO Charles Holmes. "The Alberta government has been very supportive.
Edmonton is a fantastic resource
center for parts, services and skilled labour. Edmonton is also the heart of Canada's longest and sunniest growing hours
and some of the best soil with lowest risk from flooding land area
for growing industrial hemp. Logistically we couldn't be in a
better place. Hempco® has already begun implementing BRC "AA" level
safety and quality control measures and software systems that will
raise the "hemp industry bar" to produce the highest quality
products with the greatest efficiency in a state of the art –
"pharmaceutical grade" facility for: hemp food processing, hemp
fiber processing and hemp nutraceutical low THC CBD
processing."
Hempco® is targeting June 2017 for
a grand opening of food and fiber processing.
About Hempco
Hempco® and the Holmes family is a trusted and respected
pioneer, innovator and provider of premier hemp seed foods for more
than 15 years. Hempco® is committed to a triple bottom line –
People, Planet, Profits and to capitalizing on the Hempco® mandate
of "whole crop utilization" and developing hemp foods, hemp fiber
and hemp CBD nutraceuticals, a "tri-crop" opportunity for producers
and processors. Hempco® has grown its business significantly and is
generating value and profits for shareholders.
Watch our interview on BNN with Andrew Bell.
http://www.b-tv.com/hempco-commercial
http://www.bnn.ca/video/hemp-fights-back-after-century-in-the-shadows~1012386
https://investorintel.com
10 Reasons to Invest in Hempco
We seek Safe Harbor.
ON BEHALF OF THE BOARD
"Charles
Holmes"
Charles Holmes
Chief Executive Officer
HEMPCO FOOD AND FIBER
INC.
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Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Statements in this press release regarding the Company which
are not historical facts are "forward-looking statements" that
involve risks and uncertainties. Such information can
generally be identified by the use of forwarding-looking wording
such as "may", "expect", "estimate", "anticipate", "intend",
"believe" and "continue" or the negative thereof or similar
variations. Since forward-looking statements address future events
and conditions, by their very nature, they involve inherent risks
and uncertainties such as the risk that the closing may not occur
for any reason. Actual results in each case could differ
materially from those currently anticipated in such statements due
to factors such as the decision of the TSXV to reject any grant of
options or any person to act as investor relation service
providers. Except as required by law, the Company does not intend
to update any changes to such statements.
Vancouver BC, Canada
SOURCE Hempco Food and Fiber Inc.