Source: marketwatch.com
Hemp, Inc.
HEMP
+5.83%
today announced it has committed $1,000,000 to kick-start the search
for an appropriate banking partner in Colorado and to perform due
diligence thereof. The allocated funds will be held in escrow while the
search begins.
Bruce Perlowin, CEO of Hemp, Inc., stated, "We are committed to moving
this industry forward and supplying the infrastructure to make it more
viable. Our recent acquisition of the largest decorticator
in the United States, in order to process raw hemp
into valuable renewable products, is off to a great start, but it
doesn't stop there. As a 'farmer' in China, Hemp, Inc. understands the
needs of farmers and we believe farmers, as well as other providers,
will undoubtedly need financial services to make this industry soar to
new heights. This is already a very unique, rapidly growing market and
it is our goal to be a part of supplying their financial needs."
Perlowin went on to say, "Our increase in revenue over the last year has
given us the strength to make these bold steps that we believe over
time will allow Hemp, Inc. to be the vertically entrenched backbone of
the industry. From growing hemp, to helping farmers, processing the
harvest, marketing products and to financing the growth, we plan to be a
significant player in this industry."
Hemp, Inc. executives say due to the company's stability, both
financially and operationally, and its commitment to the shareholders,
the company expects to continue generating positive earnings and return
on investments.
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