CENTRAL POINT, Ore., Sept. 30, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – This document corrects and replaces the announcement from Sept. 30, 2019, 8:00 a.m. ET.
Hemptown USA, a multistate hemp operation and subsidiary of Hemptown Organics Corp., today unveiled its new Hemptown Chew gum, containing hemp-derived CBD and CBG cannabinoids. The launch marks the first consumer product innovation to come out of Kirkman Group, a longtime nutraceutical manufacturer acquired by Hemptown in July.
The CBD and CBG in Hemptown Chew are efficiently and easily absorbed, and consumers can conveniently carry and enjoy this product at any time of day. Each piece of Hemptown Chew mint-flavored gum contains 15 milligrams of CBD and 5 milligrams of CBG, and the product has tested well in consumer research. The gum comes in a convenient foil pack that maximizes freshness and improves product protection and dispensing. The vibrant packaging provides a fantastic standout to capture shopper attention. Hemptown Chew will be available to U.S. consumers starting next month.
"We are looking forward to growing and expanding in the U.S., as we believe there is a great opportunity for functional gums and their benefits – especially knowing that global consumption of hemp-infused products is growing exponentially," said Bruce Trent, VP global sales, Hemptown USA.
While CBD appears to be taking over the consumer market, Hemptown USA discovered a lack of market presence for cannabigerol (CBG), the chemical parent of THC and CBD. CBG is not only unique among cannabinoids but incredibly rare. Most CBG produced by cannabis is converted to other cannabinoids, which is why in its purity it is present in relatively low quantities. Hemptown USA is growing over 500 acres of hemp plants with an exclusive focus on these rare genetics in an effort to become a dominant North American supplier of CBG by the end of 2019.
Hemptown Chew products can currently be preordered on HemptownUSA.com. A single pack containing two servings is $4.99, a pack of six is $9.99, and a pack of 12 is $18.99.
About Hemptown USA
Hemptown USA is growing some of the finest high-cannabinoid hemp plants in the world. Hemptown USA is meeting the ever-increasing global demand for cannabinoid products and is anticipating to yield more than 2.5 million pounds of flower and biomass this 2019 harvest season. Expanded farmland spanning three states, together with extraction and processing capabilities, are the foundation for Hemptown USA’s vertically integrated model as the Company pushes into the consumer packaged goods sectors with top-quality branded product lines for the consumer market. Due in large part to the recent acquisition of Kirkman Group, an FDA-licensed and cGMP (Current Good Manufacturing Practice) certified operating nutraceutical business based in Oregon, Hemptown USA is well-positioned to capitalize on a global market expected to exceed $22 billion by 2020. For more information, visit www.hemptownusa.com.
Disclaimer for Forward-Looking Statements
This news release contains forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements are based on current expectations of management, involve a number of risks and uncertainties, and are not guarantees of future performance of the Company. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the closing date of the financing, the attributes of the securities to be offered and sold by the Company, the proposed use of the net proceeds of the Offerings. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include general market conditions, significant business, competitive, political and social risks and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
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