NEW YORK, March 08, 2018 (GLOBE NEWSWIRE) — via OTC PR WIRE– HempAmericana, Inc. (OTC:HMPQ) (“HempAmericana” or the “Company”) is excited to announce that it has begun the process of uplisting the Company’s trading tier with OTC Markets, transitioning shares from the pink sheets and onto the OTCQX exchange. The Company has already engaged a specialized accounting firm with credentials targeting Financial Reporting for publicly traded companies to undertake a comprehensive audit of the Company’s financial records.
Management strongly believes this move will unleash significant value for HempAmericana shareholders. The Company has begun to establish itself as a premier player in the CBD Oil extraction and processing space – an area of the cannabis sector widely viewed by analysts as possibly the core growth opportunity in the space over the next 24-36 months.
The Company’s move to uplist shares at this stage comes as it fires up its state-of-the-art Augusta, Maine facility in coming days. With all major equipment paid-for and due to be installed by end of month, the Company is establishing perhaps the leading high-capacity premium CBD Oil facility in the Eastern US market.
Furthermore, as noted in recent communications, the Augusta facility has been established as a pilot project to be followed by several other regional CBD Oil extraction and processing facilities.
Management believes that the added credibility afforded through a full audit process by a well-respected firm followed by an uplisting of shares will afford the Company a wide range of new strategic options as well, including the ability to employ working capital to take advantage of key acquisition opportunities, which could further propel the Company toward a market-dominant position in the CBD Oil boom.
HempAmericana CEO, Salvador Rosillo, commented, “HempAmericana is committed to bringing full transparency to our shareholders. The Company has made tremendous progress over the past year – a landmark year for us on just about every level. But, as a publicly traded company, the best way to mobilize that progress and translate it into value for shareholders is to engage a competent and trusted third party accounting firm to ratify it through official examination. We look forward to moving up first onto the OTCQX and then the OTCQB.”
Management notes that the audit process will begin next week. From there, the Company believes it will take approximately 60 days to complete the process and uplist shares onto the OTCQX tier.
The Company has researched and understands the OTCQX Corporate Governance guidelines to ensure a successful listing, and plans to quickly satisfy all requirements. Once firmly listed on the OTCQX, HempAmericana will continue the process of a two-year audit for compliance with the Securities Exchange Act of 1934 for fully reporting companies in preparation for a further move onto the highly respected OTCQB tier.
The Company will issue regular updates to keep shareholders apprised of its progress on this front as key steps are achieved.
About HempAmericana, Inc.
HempAmericana is currently in the rolling paper and CBD oil business using the brand name Weed Got Oil. Search Rolling Thunders hemp papers on YouTube for a product demonstration of the Company’s papers. The company owns an extraction machine and now plans to become a leader in the CBD oil market by establishing three laboratories for the extraction and research of the oils contained in the hemp plant. HempAmericana also researches, develops and sells products made of industrial hemp. See more at http://www.HempAmericana.net.
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.
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