Hempco Food and Fiber Inc. - Private Placement Offering Update

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Hempco Food and Fiber Inc. - Private Placement Offering Update

Canada NewsWire

Symbol: TSX.V – HEMP                       

VANCOUVER, June 23, 2017 /CNW/ - Hempco Food and Fiber Inc. (TSX.V: HEMP) ("Hempco® or the company") is pleased to a provide an update on the private placement offering announced by it on June 7, 2017, June 8, 2017 and June 16, 2017.

As previously announced, Aurora Cannabis ("Aurora") entered into an agreement to purchase 10,558,676 units of the Company on June 8, 2017.  This agreement was subject to the satisfaction or waiver of certain conditions in favor of Aurora which were to be satisfied or waived by Aurora by June 22, 2017.  In order to give Aurora more time to complete its due diligence review of Hempco, the parties have agreed to extend the date for the satisfaction or waiver of these conditions from June 22, 2017, to July 7, 2017.

About Hempco

Hempco® and the Holmes family is a trusted and respected pioneer, innovator and provider of premier hemp seed foods for 17 years. Hempco® is committed to a triple bottom line – People, Planet, Profits and to capitalizing on the amazing hemp plant as a: hemp foods, hemp fiber and hemp functional food / nutraceuticals, "tri-crop" opportunity for producers and processors. Hempco® has grown its business significantly and is generating value and profits for shareholders. 

ON BEHALF OF THE BOARD

"Charles Holmes"                 

Charles Holmes
Chief Executive Officer
HEMPCO FOOD AND FIBER INC.
(604) 317-3879

Neither 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.

Statements in this press release regarding the Company which are not historical facts are "forward-looking statements" that involve risks and uncertainties.  Such information can generally be identified by the use of forwarding-looking wording such as "may", "expect", "estimate", "anticipate", "intend", "believe" and "continue" or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties such as the risk that the closing may not occur for any reason.  Actual results in each case could differ materially from those currently anticipated in such statements due to factors such as the decision of the TSXV to reject any grant of options or any person to act as investor relation service providers. Except as required by law, the Company does not intend to update any changes to such statements.

SOURCE Hempco Food and Fiber Inc.

View original content: http://www.newswire.ca/en/releases/archive/June2017/23/c5199.html

Copyright CNW Group 2017

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