Hempco Food and Fiber Inc. Symbol: TSX.V –
HEMP
VANCOUVER, July 6, 2017 /CNW/ - Hempco Food and Fiber Inc.
(TSXV: HEMP) ("Hempco®") is pleased to announce its monthly sales
(value shipped) report. For the current year bulk and retail sales
to date have pushed through last year's total of $5.2m and are greater than $5.7m* shipped, with more than $300k* already enroute during the month of
July 2017. Estimated Gross Sales for
August 31, 2017 fiscal yearend is
approximately $6.5m* with an overall
growth rate of approximately 25%/yr or more, for the third year in
a row. (These reports will now be following quarterly
financials)
The following is a summary of approximate monthly bulk and
retail sales (*=unaudited):
Bulk hemp foods sales and PLANETHEMP brand retail products
sales (* = unaudited)
|
Sept
|
Oct
|
Nov
|
Dec
|
Jan
|
Feb
|
Mar
|
Apr
|
May
|
Jun
|
Jul
|
Aug
|
Total
|
Bulk 2015/2016
|
$279K
|
$434K
|
$249K
|
$209K
|
$183K
|
$540K
|
$415K
|
$632K
|
$949K
|
$809K
|
$351K
|
$190K
|
$5.24m
|
Bulk 2016/2017
|
$1.m*
|
$870k*
|
$223k*
|
$777k*
|
$1.1m*
|
$173k*
|
$245k*
|
$84k*
|
$157k*
|
$600k*
|
|
|
$5.6m*
|
Retail 2016/2017
|
$1k*
|
$5k*
|
$5k*
|
$37k*
|
$3k*
|
$10k*
|
$22k*
|
$6k*
|
$6k*
|
$9k*
|
|
|
$115K*
|
Fiscal year end August
31
$6 M* Sales for
10 Months of 2017 Fiscal Year
The sales and growth presented above are much lower that what
was previously projected by Hempco® distributors in EU,
Canada and Korea. "Hempco® has had
to re-calculate and set more conservative and realistic goals and
has implemented an extensive and intensive bulk products and
PLANETHEMP CPG retail sales strategic plan to overcome packaging
issues and distributor non-performance challenges. Hempco® has 4
new hires for bulk and retail sales and many new leads and Purchase
Orders are flowing in. The Hempco® $9M sales contract with its Korean Distributor
ends August 31, 2017 and will
complete just over 50% of its target. Both parties are doing
everything they can to regain the 30% market share once held in
Korea, in the midst of a price war," says CEO Charles Holmes. "There are several new
distributors from EU, Australia,
Canada, USA, Mexico
and China expressing keen interest
in the PLANETHEMP CPG retail line and Hempco® will continue to
forge ahead to land our premier hemp food products into affluent
and health-interested markets around the world." PLANETHEMP
products may be purchased online at: https://www.amazon.co.uk,
www.planethemp.co.uk and https://www.boroughbox.com and are
available in over 70 stores in Canada and 90 stores in the UK.
Ask for PLANETHEMP at Your Favorite Natural Products Store
Section
http://planethemp.ca/store-locator/ www.planethemp.ca watch
video
About Hempco
Hempco® and the Holmes family is a trusted and respected
pioneer, innovator and provider of premier hemp seed foods for 17
years. Hempco® is committed to a triple bottom line – People,
Planet, Profits and to capitalizing on the amazing hemp plant as a:
hemp foods, hemp fiber and hemp functional food / nutraceuticals,
"tri-crop" opportunity for producers and processors. Hempco® has
grown its business significantly and is generating value and
profits for shareholders.
Watch our information videos.
http://www.b-tv.com/hempco-commercial
http://www.b-tv.com/hempco-food-and-fiber-ceo-clip/
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.
charles@hempcocanada.com
604-317-3879
Neither 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.
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.
SOURCE Hempco Food and Fiber Inc.