Hemp for Health Provides Update on Hemp Operations in Italy
Vancouver, British Columbia--(Newsfile Corp. - February 12, 2020) - HEMP FOR HEALTH INC. (CSE: HFH) (FSE: 9HH) (the "Company"), a cultivator and distributor of premium CBD products in Italy and other European countries, wishes to provide its shareholders and potential investors with an update on 2019 operations and our 2020 growth expectations.
Our first year of operations was focused on a test crop which included the CBD Carmagnola strain in the Tuscan valley. Of the 3 Ha of this strain planted, we yielded approximately 3000 kilos of biomass and 340 kilos of hemp flower. This successful harvest is expected to generate approximately 700,000 Euros in gross revenue.
The 2020 growing season is programmed to plant 150 hectares from 4 different strains of seed that have already been ordered. Based on our 2019 test crop results, the Company expects to yield over 100,000 kilos of biomass and 12,000 kilos of dried flower.
"We are pleased with delivering on our promises to our shareholders as demonstrated by the results and cultivation of this year's test crop of Carmagnola hemp," reported CEO and founder, Robert Eadie. "2020 will be a transformative year. The Company has world class farmers and soil, a stake in a European distribution channel and results that ultimately will speak to our end goal of delivering wellness benefits to our consumers."
About Hemp for Health Inc.:
Hemp for Health is a cultivator and distributor of premium CBD products with an exclusive, long-term contract for land with farmers in the Tuscan region of Italy for the purpose of yielding the highest quality hemp-based CBD. Our focus is to offer the absolute best in natural and organic CBD products to our customers, and that starts with pristine soil, seeds, and sun. (See further details available in the Company's filings on SEDAR. www.sedar.com)
ON BEHALF OF HEMP FOR HEALTH INC.
(sgd.) Robert Eadie
President & CEO
The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Telephone: 416-640-1936 x 203
Toll Free: 1-866-602-4935
Except for statements of historical fact, this news release contains certain “forward-looking statements” within the meaning of applicable securities law. In particular, forward-looking statements in this press release include, but are not limited to, statements with respect to (i) the monetization of the Company’s current inventory of hemp, and (ii) the planting and harvesting of certain quantities of hemp during 2020. In connection with the forward-looking statements, the Company has made numerous assumptions regarding, among other things: the ability to plant, grow and harvest hemp without significant loss due to adverse weather conditions or natural disasters. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant risks, uncertainties and contingencies which could cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements contained herein. Risk factors include: general risks associated with agriculture including drought, infestation, fire, hail, flooding, and factors beyond the control of the Company; a material increase in the supply of hemp, regionally or worldwide which depresses the general price for hemp and hemp derived products; unanticipated operating delays or halts; competition from other growers or suppliers; failure to obtain or maintain all required approvals from regulatory authorities; and changes in regulations related to the growing, processing and distribution of hemp and hemp related products. A more complete discussion of the risks and uncertainties facing the Company is disclosed in its prospectus dated November 1, 2019 as filed on SEDAR. All forward-looking statements herein are qualified in their entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking statements or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments, except as required by law.
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