Hemp, Inc. Signs Letter of Intent with One of China's Largest Agricultural Producers, Yasheng Group
NEW YORK, May 16, 2013 /PRNewswire/ -- Hemp, Inc. (OTC: HEMP) is pleased to announce an agreement with the Yasheng Group (OTC:HERB), one of China's largest agricultural producers. The signed agreement specifies that Yasheng Group will grow and process into finished product 637 mu (108 acres) of a specific cultivar of industrial hemp in China. According to Hemp, Inc. executives, the cultivar will be very high in CBDs (a non-toxicating group of compounds with proven medical benefits and no serious contraindications) with less than .05% THC. This level of THC is legal for import into the United States. Final seed products such as hulled hemp seed possess THC levels too low to have an intoxicating effect on anyone consuming it.
The harvested crop will be processed into finished products to be comprised of approximately 75,000 kilograms of top quality hemp. Hemp, Inc. (OTC: HEMP) will have final determination of the processing of the end product as the crop progresses to maturity. CEO Bruce Perlowin stated, "Hemp seed, hulled or pressed into oil has the most monetary value at market, but the possibility of providing a quality source of protein to the Chinese population that consumes a great amount of the world's food, is something we are working on. Yasheng representatives have showcased our Herbagenix hemp protein blend to interested buyers at a recent trade show in Hong Kong that could lead to a large sales presence inside China."
Hemp, Inc.'s President, David Tobias, is thrilled with the new agreement, "Yasheng Group is one of China's leading agricultural producers. They've been in business for over 30 years. We're especially proud that we've been able to join the ranks of major corporations McDonald's, KFC, Tsingtao Beer and Pepsi, who partner with the Yasheng Group."
Yasheng Group conducts business operations in China in three major segments: agriculture, livestock, and biotechnology and specializes in developing, processing, marketing, and distributing a variety of food products processed primarily from premium specialty agriculture products grown in North West China in 6 agricultural segments: field crops, vegetables, fruits, special crops, seeds and poultry.
Hemp, Inc.'s TRIPLE BOTTOM LINE
Hemp, Inc. (OTC: HEMP) seeks to benefit many constituencies, not exploit or endanger any group of them. Thus, the publicly-traded company believes in "upstreaming" of a portion of profit from the marketing of their finished hemp goods back to its originator. By Hemp, Inc. focusing on comprehensive investment results—that is, with respect to performance along the interrelated dimensions of people, planet, and profits— our triple bottom line approach can be an important tool to support sustainability goals.
SOURCE Hemp, Inc.