World News: 13:30 GMT Tuesday 3rd December 2019. [HempAmericana, Inc. via Globe Newswire via SPi World News]
NEW YORK, Dec. 03, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE – HempAmericana, Inc. (OTC: HMPQ) (“HempAmericana” or the “Company”), an emerging leader in the CBD products market, is pleased to announce the purchase of a next-generation high-capacity 200-Liter Solvent Recovery System (“SRS”) manufactured by Ecodyst (), a leader in disruptive laboratory technology. The Company’s new SRS model is four times as large as the Company’s existing SRS and is the largest system offered by the manufacturer.
“Based on our analysis, this machine will pay for itself in no time,” commented Salvador Rosillo. “After that, it’s all gravy. Given our production system, this is a no-brainer. We are deploying capital – increasingly coming from operations – to streamline and augment returns on prior and current investments. This new investment will positively impact our margins for years to come.”
Management notes that the machine is currently in the Ecodyst manufacturing production process. The Company anticipates delivery over the near term and will integrate the new machine into the production process immediately upon installation.
Ecodyst is also currently attending , an Industry Trade show touted as "the largest gathering of cannabis business professionals in the world", with an estimated 35,000 attendees. At the conference, Ecodyst will be featuring the precise Solvent Recovery System purchased by the Company, and will hang the HMPQ Banner to give additional exposure for HempAmericana.
Mr. Rosillo stated, “This machine is the jump-start for the expanded and enhanced production line we have been assembling, and it will play a significant role in driving bottom-line profitability in the quarters ahead.”
Safe Harbor Provision. Cautionary statement for purposes of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995: Information in this news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of the Company and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the execution and performance of contracts by the Company and its customers, suppliers and partners. Please also review Hemp Americana annual and quarterly financials for a more complete discussion of risk factors. The Company disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise. This communication shall not constitute an offer to sell or the solicitation of an offer to buy securities nor shall there be any sale of these securities in any state in which such solicitation or sale would be unlawful prior to registration or qualification of these securities under the laws of any such state.
Globe Newswire: 13:30 GMT Tuesday 3rd December 2019
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