LAS VEGAS, NV – Hemp, Inc. (OTC PINK: HEMPD) executives report to shareholders how the approval of the eleventh Senate Agriculture Appropriations bill for fiscal year 2016 is directly impacting its decortication plant in Spring Hope, North Carolina. According to Kentucky.com, the U.S. Senate Majority Leader, Mitch McConnell, inserted a provision in the Senate Agriculture Appropriations bill to allow interstate transportation of legally grown industrial hemp.
That specific language, inserted into the appropriations bill, will help farmers to transport their legal industrial hemp crops for further processing between states without federal interference. Hemp, Inc. owns the only commercial scale plant in the United States of America that is capable of processing industrial hemp for commercial purposes.
“The approval of this bill lays the groundwork for industrial hemp to be grown, processed and manufactured right here in the U.S.A. and sold here in the U.S.A. without having to import these goods from other countries,” said Bruce Perlowin, CEO of Hemp, Inc. (OTC Pink: HEMPD). As the laws continue to change and evolve in favor of legalizing industrial hemp, Hemp, Inc.’s subsidiary, Industrial Hemp Manufacturing, LLC with its 70,000 square foot operation, is positioning itself to become the top processing facility in the entire United States.
Hemp, Inc.’s Industrial Hemp Manufacturing, LLC has been working for the past year on getting its decortication plant in Spring Hope, North Carolina fully operational. “When industrial hemp has been legalized in North Carolina and with the ability to cross state lines, we’ll be ready to serve the American farmers,” said David Schmitt, COO of Hemp, Inc.’s Industrial Hemp Manufacturing, LLC.
Phase one (the longest and hardest process of disassembling, transporting and reassembling our hemp fiber processing facility) of four has been completed. The latest video update of where Hemp, Inc. is in the process can be viewed on www.HempIncPresents.com.
According to executives, the latest video shares what has transpired since Hemp, Inc.’s CEO, Bruce Perlowin, visited the facility July 7-11, 2015. The remainder of the decortication line is now entirely placed in position. Phase One, per Hemp, Inc. executives, was the most arduous of the four phases. “We expect Phase two, three and four to be completed between 60 and 120 days,” says Schmitt.
Hemp, Inc.’s decortication facility will be able to process industrial hemp crops and other natural fibers on a commercial scale. Senator Mitch McConnell said, “Kentucky’s industrial hemp pilot programs continue to prosper and I want to make sure our legal hemp producers can safely transport their crops between states, including to states that maintain processing facilities, so they can fully capitalize on the commercial potential for this commodity.”
“This latest language reemphasizes that industrial hemp from a farm bill research program is an agricultural commodity. The ability of Kentucky to research the full potential of industrial hemp through processing, marketing, and sales is vital to understanding the future possibilities for industrial hemp. Kentucky’s agriculture community continues to be indebted to Senator McConnell for his continued leadership on industrial hemp,” said Kentucky Commissioner of Agriculture James Comer.
According to the United States Senate, Committee on Appropriations, the committee approved the FY2016 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Bill on a bipartisan 28-2 vote. With this bill, the Senate now has an opportunity to debate 11 of the 12 appropriations bills required of Congress annually. This measure supports U.S. Department of Agriculture (USDA) agriculture, rural communities and cooperative conservation programs. It invests in food and drug safety, and provides essential nutrition assistance for children, families and seniors.
Senator Mitch McConnell has been a long-time proponent of legalizing hemp. According to Politico Magazine (politico.com), in May of last year:
“A shipment of 250 pounds of hemp seeds left Italy destined for Kentucky as part of a pilot project made legal by the 2014 federal farm bill. Kentucky farmers had long hoped for a crop that could fill the void left by the decline of tobacco, and many thought that industrial hemp, which is used in a vast array of products, could be that crop.
The hemp seeds cleared customs in Chicago, but when the cargo landed at the UPS wing of Louisville International Airport, the Drug Enforcement Administration seized it, arguing that importing hemp seeds required an import permit, which could take six months to process. If farmers couldn’t get those seeds into the ground by June 1, the entire first year of the hemp pilot program would be dashed.
The DEA would have succeeded in blocking the seeds from reaching Kentucky farmers and university researchers but for the efforts of the state’s agricultural commissioner, who sued the agency and, most improbably, Mitch McConnell.
McConnell — then the Senate’s minority leader — worked furiously to free the seeds from the DEA’s clutches and continued the pro-hemp drumbeat throughout 2014, as he campaigned for reelection. This year, as Senate majority leader, he’s taken a further step by co-sponsoring the Industrial Hemp Farming Act of 2015. While the farm bill carved out an exception to allow hemp cultivation in Kentucky, the 2015 bill would remove hemp entirely from the list of drugs strictly regulated by the Controlled Substances Act. It would, in essence, legalize hemp production in the United States.” (source: Mitch McConnell’s Love Affair with Hemp, Politico.com 3/2015)
Hemp, Inc.’s team is ensuring maximum operational efficiency of its decortication plant. “The raw hemp plant has to be processed into something the consumer can use and benefit from. It’s only a matter of time once industrial hemp is legalized,” said Perlowin.
He continued, “Those crops will need a commercial manufacturing facility to further process their crops. That’s where our decortication facility in Spring Hope, North Carolina comes in. We own the only hemp decortication machine in the entire United States and within only a few hundred miles from Kentucky’s industrial hemp crops. I believe our decision to buy the Temafa decortication line, over a year ago, is now influencing the passage of laws as described above.”
Perlowin concluded, “I call this using entrepreneurialism as the engine for social change and we’re thrilled to see the results of our efforts manifesting in tangible and measurable legislative changes on the way to being implemented.”
HEMP, INC.’s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC Pink: HEMPD) seeks to benefit many constituencies from a “Cultural Creative” perspective, thereby not exploiting or endangering any group. CEO of Hemp, Inc. (OTC Pink: HEMPD), Bruce Perlowin, is positioning the company as a leader in the industrial hemp industry, with a social and environmental mission at its core. Thus, the publicly-traded company believes in “upstreaming” of a portion of profit from the marketing of their finished hemp goods back to its originator, in which most cases will one day be the American farmer, cultivating natural, sustainable products as an interwoven piece of nature. By Hemp, Inc. focusing on comprehensive investment results — that is, with respect to performance along the interrelated dimensions of people, planet, and profits — our triple bottom line approach can be an important tool to support our sustainability goal.
SAFE HARBOR ACT
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
For Investor Relations/Shareholder Info, contact:
Pacific Equity Alliance, LLC
Zachary R. Logan / Drew S. Phillips