Hemp, Inc. Acquires Leading Manufacturer of Hemp Products

Rhea-AI Summary

Hemp, Inc. (OTC PINK: HEMP) has acquired Ferris Holding Inc., a co-packer and manufacturer based in Las Vegas. This all-stock deal is aimed at driving cost savings and increased revenue through Ferris's established manufacturing capabilities, particularly in enhancing Hemp's product offerings in the hemp market. Ferris has a strong track record, including being the manufacturer of the King of Hemp® product line. The management team at Ferris will remain onboard for a year to ensure a smooth transition, as stated by Jim Hancock, President of Hemp, Inc.

Positive

• Acquisition of Ferris Holding Inc. enhances manufacturing capabilities.
• Expected cost savings and revenue growth from Ferris's existing operations.
• Management continuity from Ferris ensures smooth transition and operational stability.

Negative

• None.

LAS VEGAS, NV, Sept. 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Hemp, Inc. (OTC PINK: HEMP), an established leader in the industrial hemp market, announces that it has acquired a significant manufacturer and co-packer, Ferris Holding Inc. (“Ferris”), headquartered in Las Vegas, Nevada.  Hemp Inc.’s all stock acquisition of Ferris will provide cost savings and increased revenue of products developed, manufactured and co-packed by Ferris. As a leading co-packer and manufacturer, Ferris will expand Hemp Inc.’s launching of new products in the hemp market that can be distributed and sold worldwide by Hemp Inc.

Ferris was founded and began operations in 2005 and has been the manufacturer of the King of Hemp® smokable product line for Hemp Inc. With consistent stellar health department ratings and innovative manufacturing processes that increase quality while decreasing loss, Ferris is a highly respected manufacturer. The ownership of Ferris has agreed to allow their management team to stay on for at least one year, assuring a smooth transition to the management team at Hemp Inc. 

Jim Hancock, President of Hemp Inc., stated, “We are very fortunate to have spent several years working with the management team at Ferris in Las Vegas, NV, in providing the best quality products in the Hemp market.  Our acquisition of Ferris will give Hemp Inc., an advantage of launching new products that will expand our products and bring new customers and distributors worldwide.  We also now will experience significant cost savings to Hemp Inc. by having control of our manufacturer and co-packer.”

King of Hemp® Gummies are now in stock at retailers online. These CBD edibles come in a variety of flavors and potencies of 25 gm, 20 gm and 10 gm. Flavors include blue raspberry, kiwi, strawberry, pineapple, guava, tropical, apple, citrus, berry tang and more. CBD Fruit Rings (20 gm and 10 gm) are available in apple, peach and watermelon. King of Hemp® Sour Bears in assorted flavors (10 gm) are in stock, too. 

King of Hemp® Caviar (previously called Moon Rocks) offers high CBD potency and a rich taste. The Caviar is made from high-quality Bubba Kush hemp flower, coated in a THC-free distillate and then rolled in CBG-rich kief. While Caviar can be smoked in a pipe or vaped, it should not be rolled into a cigarette.

King of Hemp® Diamonds contain over 95% CBD and are derived from terpene-infused THC-free distillate. Diamonds are consumed by dabbing. 

The robustly flavored King of Hemp® Pre-Rolls are made from organic, pesticide-free Bubba Kush hemp wrapped in RAW Natural Rolling Paper. The unique wrapper is made from 100% plants with no added chalk or dyes. Pre-Rolls are sold online as singles and in a six-pack.

Fortified Pre-Rolls utilize the King of Hemp® Pre-Roll and cover it with a high-CBD distillate and help kief. These highly potent, flavorful pre-rolls are recommended for experienced smokers.

Midnight Express, a high CBG Pre-Roll, is made from premium hemp flowers, named in honor of the 1977 book by Billy Hayes ‘Midnight Express’, which was also an award-winning feature film, written by Oliver Stone. Hemp, Inc. uses a proprietary process for its Pre-Rolls, which includes blending the best flower from numerous hemp crops. King of Hemp® Pre-Rolls offer smokers a unique, consistent profile every time.

Hemp, Inc. began shipping its King of Hemp® product line to stores across the country in late 2020.

King of Hemp® Tinctures are currently sold out, but new-formulation tinctures will be available at the King of Hemp® online store and at retail locations very soon. 

WHAT IS HEMP, INC.?

What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

Hemp, Inc. investors can further support the company’s mission by making the King of Hemp® product purchases—a win/win scenario, because it generates revenue for the company and the King of Hemp® offers only the highest quality CBD and CBG products.

Jim Hancock, newly announced President of Hemp, Inc., stated, “Now is the time for all shareholders that live in the area to go to the store and purchase King of Hemp® products for their own benefit and to support their investment in Hemp Inc. If you do not live in the area, go to the KingOfHemp.com website and order products so you can enjoy the benefits high-quality hemp brings.”

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES

This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. The Securities and Exchange Commission (SEC) requires issuers to provide “adequate current information” and Hemp, Inc. does… using the SEC’s Alternative Reporting Standard to publicly report its quarterly and yearly financials.  All current information can be found on www.hempinc.com/hemp-financial-disclosures/. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties.

Contact:

Hemp, Inc.    

855-436-7688

ir@hempinc.com

FAQ

What is the purpose of Hemp, Inc.'s acquisition of Ferris Holding Inc.?

To enhance manufacturing capabilities and increase revenue through cost savings and new product launches.

How will the acquisition of Ferris impact Hemp, Inc.'s products?

It will enable Hemp, Inc. to expand its product offerings, particularly in the hemp market.

When was the acquisition of Ferris Holding Inc. announced?

The acquisition was announced on September 14, 2021.

What is the stock symbol for Hemp, Inc.?

The stock symbol for Hemp, Inc. is HEMP.