Hempco Announces Appointment of Larry Karass to its Board of Directors
TSX.V – HEMP
VANCOUVER, Oct. 29, 2018 /CNW/ - Hempco Food and Fiber Inc. (TSX.V: HEMP) ("Hempco®" or the "Company") is pleased to announce the appointment of Larry Karass to its Board of Directors.
Mr. Karass brings over 30 years of leadership experience in building consumable businesses in the beverage, nutraceutical, functional foods, natural products and industrial packaging sectors. With a degree in international law, Mr. Karass has held senior management and officer positions with a number of enterprises, helping guide their growth in markets domestically and abroad. Mr. Karass currently serves on the boards of several private and not-for-profit enterprises in the food and other industries.
"We are pleased to welcome Mr. Karass to the Hempco Board of Directors as the company continues to implement its global strategy. His experience in growing successful consumer packaged goods businesses in competitive markets, make him a strong addition to our health and wellness-focused company," said Diane Jang, CEO of Hempco Food and Fiber Inc. "Larry enhances the diversity of our board, is well versed with board governance, and we look forward to his guidance as we navigate this next exciting phase of growth with Hempco."
"I have been assessing board opportunities in the nutraceutical/functional food space and Hempco stood out to me as a team that is truly founded on the ethos of promoting wellness and improving the world at large," said Mr. Karass. "I look forward to being a part of the company's growth during such a dynamic time in this emerging industry."
Furthermore, the Company announces that it has granted to its officers, directors and employees an aggregate of 1,600,000 stock options, exercisable for a period of five years, at a price of $1.20 per share.
About Hempco
For more than 12 years Hempco has been a trusted and respected pioneer, innovator and provider of quality hemp-based foods, hemp fiber and hemp nutraceuticals. Hempco produces and markets the brands Planet Hemp and Praise, hemp-based foods and nutritional supplements for people and animals. Hempco is expanding its processing ability to meet global demands in a 56,000 sq. ft. facility located at Nisku, Alberta. Hempco's common shares trade on the TSX Venture Exchange under the symbol "HEMP".
On behalf of the Boards of Directors,
HEMPCO FOOD AND FIBER INC
Diane Jang
CEO
The TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes statements containing certain "forward-looking information" within the meaning of applicable securities law ("forward-looking statements"). Forward-looking statements are frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements in this press release include the Company's anticipation of further growth, its expectation that continued spot inspections by the Canadian Food Inspection Agency will strengthen its standing as a trusted supplier, its intent to achieve the BRC Global Standard for Food Safety and its efforts to implement these standards at its Nisku, Alberta facility, its expectation that the Nisku facility will be operational by Fall 2018. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. The Companies are under no obligation, and 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 expressly required by applicable law.
SOURCE Hempco Food and Fiber Inc.
John Ross, Chief Financial Officer, +1.647.291.4234, [email protected]
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