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Principal Technologies Inc. M&A Activity 2021
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M&A Activity
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Hemp Technology Acquires Cannary Packaging Inc.
Louisville, KY, July 7, 2020 (OTCIQ) - Hemp Technology Inc. ("HempTech" or the "Company") (OTC Pink: HPTY) a publicly traded company and the parent company to a diverse group of business units that are emerging leaders in the legal cannabis and CBD industries, is pleased to announce the acquisition of the assets of Cannary Packaging Inc., a leading North American distributor of ancillary products and services for the legal cannabis and CBD industries in an assets for shares transaction. We believe HempTech has developed a highly scalable platform with exposure to a diversified base of rapidly growing customers and markets.
"Cannary, with its broad distribution and exclusive factory agency for our "Verified Vapes", vaporizer hardware products, will further broaden our sales penetration and build brand value in high growth markets" stated Michael Shenher, CEO.
"Cannary generated $3.7 Million revenue in its first full calendar year of operation, and we expect it be the engine of significant growth for HempTech" stated Chad Costa, President.
Chad Costa President Hemp Technology Inc.
Our subsidiary, Verified Vapes, a premier vaporizer hardware brand is setting a new industry standard. The CBD and cannabis industry demand higher quality, reliable vaporizer technology. Verified Vapes products meet the market demand for higher quality. safe reliable vape technology. We proudly adhere to industry best practices, which enable our customers to deliver premium products that they can stand behind. As pioneers of the cannabis industry, our product knowledge is second to none. Our solution is in alignment with an emphasis on corporate social responsibility and the highest degree of regulatory compliance. After extensive research and development, the result is the highest quality vape products on the market.
ERIFIED
For further information, please contact: Investor Relations and Communications Telephone: +1 437-230-7399 Email: [email protected]
Telephone: +1 (437) 230-7399 | Email: [email protected] | www.hemptechnologyinc.com 4965 US Hwy 42, Suite 1000-34 | Louisville, KY | United States | 40222
About Hemp Technology Inc.
A vertically integrated, publicly traded holding company, Hemp Technology Inc. (HPTY: OTCBB) operates and intends to further obtain a diversified portfolio of subsidiary companies. Focusing on a variety of assets, products, and ancillary offerings in the hemp and related industries, HPTY's fluid business model is positioned to capitalize on, and quickly adapt to, changing market conditions. The Company is continually seeking opportunities and strategic acquisitions that support its business model and maintain alignment with the dynamic industry environment. The Company currently holds two hemp processing licenses in the state of Kentucky. The Company currently has operations in the U.S. and Canada.
Hemp Technology has assembled a highly experienced executive team with over 40 years of combined business experience. Their expertise includes management, financing, acquisitions, business development, product development, and operations. They have been instrumental in launching successful start-ups, including establishing sales channels that have contributed to shaping emerging marketplaces. Management has the business acumen to navigate change to meet the growing international demand for hemp-derived CBD, plant-based products and premier hardware.
Forward Looking Information
This news release contains "forward-looking statements" within the meaning of applicable securities legislation, such as section 27A of the Securities Act of 1933 and section 21E of the Securities Exchange Act of 1934, including estimates of future sales, cash flows, business plans, the estimated amounts and timing of capital expenditures, the assumptions upon which estimates are based and related sensitivity analyses, and other expectations, beliefs, plans, objectives, assumptions or statements about future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "2019E" "anticipates" or "does not anticipate", "plans", "estimated" or "intends", or stating that certain actions, events or results "may", "could", "would". "might" or "will" be taken, occur or be achieved). By their nature, such forward-looking statements are subject to a number of risks, uncertainties and assumptions, which could cause actual results or other expectations to differ materially from those anticipated, expressed or implied by such statements, including those material risks discussed in the Company's Form 10, and in our Management's Discussion and Analysis. The material assumptions are disclosed in the Management's Discussion and Analysis. In addition, with respect to forward-looking information contained in this presentation, assumptions have been made regarding, among other things: CBD and Hemp commodity pricing, manufacturing efficiency, future interest rates, currency exchange rates and future costs, and availability of financing. These assumptions, risks and uncertainties could cause actual results or other expectations to differ materially from those anticipated, expressed or implied by such statements. The impact of any one assumption, risk, uncertainty or factor on a particular forward-looking statement is not determinable with certainty as these are interdependent. Except as required by law, Hemp Technology Inc. assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Certain
Telephone: +1 (437) 230-7399 | Email: [email protected] | www.hemptechnologyinc.com 4965 US Hwy 42, Suite 1000-34| Louisville, KY | United States | 40222
information contained herein has been prepared by third-party sources. To the extent such estimates constitute a "financial outlook" or "future oriented financial information" in this presentation, as defined by applicable securities legislation, such information has been approved by management of Hemp Technology Inc. Such financial outlook or future oriented financial information is provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
Telephone: +1 (437) 230-7399 | Email: [email protected] | www.hemptechnologyinc.com 4965 US Hwy 42, Suite 1000-341 Louisville, KY | United States | 40222