Hemp Technology Inc. issued the following announcement on Sept. 26.
Hemp Technology Inc. ("HempTech" or the "Company") (OTC PINK: CPOW), is pleased to announce it has expanded its operations with the incorporation of Sol Terra SAS in Colombia as it ramps up its expansion into Latin America. Establishing its operations in Bogota is a key milestone in HempTech's evolution as it will leverage the Company's access to global markets. Sol Terra SAS is in the final stages of acquiring a company with necessary licenses for cultivation, manufacture, distribution, and export. The Company now has its operations in two strategic locations, Kentucky, U.S.A. and Colombia.
"Establishing our operations in Colombia provides HempTech with early-mover advantage with access to low cost production, an ideal growing climate, and a skilled agricultural workforce," stated Michael Shenher, CEO.
HempTech has put in place a highly skilled team of management and key advisors in LATAM with considerable connectivity, and expertise in the cultivation, manufacture and distribution of hemp-derived phytocannabinoid products. Establishing operations in Bogota affirms the Company's commitment to developing a full range of high-quality products in one of Latin America's fastest growing economies. This milestone increases the Company's ability to establish key partnerships, and distributor relationships to execute its scalable business model. The operations will accelerate the company's growth efforts in the industry's Latin America market, which could grow to US $12 Billion by 2028E, reflecting a CAGR of 58.4% from 2018 (source: Prohibition Partners Research).
"Establishing our operations in Latin America furthers our strategic plan to produce, manufacture and distribute hemp-derived phytocannabinoids on a global scale. With the expertise of our team in LATAM, we expect to initiate the sales and distribution of high-value hemp-derived CBD isolate and CBD products in 2020," stated Chad Costa, President.
Hemp Technology Inc.
About Hemp Technology Inc.
Hemp Technology Inc. (OTC PINK: CPOW) is striving to become the largest vertically-integrated producer, manufacturer, and distributor of hemp-derived high-value phytocannabinoids in the world. The Company is a B2B, bulk and wholesale supplier of hemp-derived CBD isolate established to serve the rapidly growing global market. HempTech has the executive expertise, and product research and development capabilities to expand its hemp-derived CBD product lines on a global scale.
About Sol Terra SAS
Sol Terra SAS is a Colombian company legally constituted in the Chamber of Commerce of Bogota.
Original source can be found here.