NEW YORK, May 30, 2019 (GLOBE NEWSWIRE) -- via NetworkNewsAudio – Hemptown USA, a proven grower of full-spectrum feminized hemp grown using premium seed genetics with exceptionally high cannabinoid (CBD) content, today announces the broadcast of its exclusive audio interview with NetworkNewsAudio (NNA), a NetworkNewsWire (NNW) Solution that delivers clients unparalleled visibility, recognition and brand awareness in the investment community.
The interview can be heard at http://nnw.fm/pJ4KQ.
Hemptown USA CEO John Cummings joins NNW host Stuart Smith in a discussion about the company’s expansion plans that include boosting its multistate footprint to 2,500 acres capable of growing upwards of 3 million pounds of hemp biomass and becoming a vertically integrated company able to produce oils, distillates and isolates.
“Anybody that’s been following the cannabis sector for the last few years hears of millions of pounds and I’m sure they’re rolling their eyes,” Cummings tells Smith. “But that’s the true difference in the opportunity that hemp is giving us versus businesses that are focused on the THC-side of the business model. This is a big agriculture play.”
While cannabis has been “deals in square feet and pounds,” Cummings says, “We deal in acres and millions of pounds. So that’s the big differentiator between hemp farm operations and cannabis THC businesses.”
Hemptown has rights to 1 million rare CBG (cannabigerol) seeds genetically programmed to yield from 15% to 20% full-spectrum non-intoxicating cannabinoids with less than 0.3% THC (tetrahydrocannabinol), the chemical responsible for most of marijuana's psychological effects.
“The formulating side of the business is an exciting time for hemp right now,” Cummings says. “We see a lot of the future in the business and a lot of growth opportunities for our company, so even this year we’re planting genetics that will produce what’s called cannabigerol (CBG) cannabinoid.”
Studies on the potential health benefits of CBG cannabinoids show anti-inflammatory and antimicrobial properties that may help skin conditions such as psoriasis along with providing relief from glaucoma to migraine headaches, Cummings states. Hemptown is one of the few companies with access to CBG seed genetics and has plans to farm 500 acres of the rare CBG hemp seeds in 2019.
“We’ll continue to develop these novel cannabinoids so we’re always one step ahead of the rest of the industry,” Cummings says, adding the company’s chief science officer, Dr. Gordon Chiu, is a world-renowned scientist and popular TED speaker.
Hemptown recently closed CAN$24 million in financing that will be used to continue building out the company’s vertical integration and fund its expansion plans.
“Probably one of the biggest expenses in our operation is seeds, believe it or not,” Cummings says. “We paid $5.5 million for 4.5 million seeds. That’s what this financing allowed us to do. So that’s how a farm goes from 50 to 1,500 acres in 90 days … this financing has put us in a very, very strong position.”
Another round of equity financing will likely be offered to investors this summer as Hemptown seeks $10 million in additional financing before the company “goes public in the fall,” Cummings concludes.
About Hemptown USA
From the rich soils of southern Oregon, which resides at the tip of the Emerald Triangle, Hemptown USA is growing some of the finest high cannabinoid hemp plants in the world. Following an impressive first year yield, Hemptown USA is scaling up its operation to meet the ever-increasing global demand for cannabinoid products. With its expanded farmland and in-house extraction/processing facilities, Hemptown USA is now positioned to vertically integrate into the consumer-packaged goods sectors with top quality-branded product lines for the consumer market. Hemptown USA’s vertically integrated business model is well positioned to capitalize on a global market expected to exceed $22 billion by 2020. For more information, visit: www.hemptownusa.com.
About NetworkNewsAudio
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Forward-Looking Statements
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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