Huntington Announces Strategic Initiatives related to USA CBD industry
04 Septiembre 2019 - 10:59AM
Huntington Exploration Inc.
(“
Huntington”, or the
“
Company”), (
TSX-V:
HEI) is pleased to announce that it is exploring strategic
alternatives intended to create shareholder value. In particular,
the Company intends to explore and evaluate opportunities in the
USA industrial hemp industry with a focus on the cannabidiol
(“
CBD”) consumer products sector as an effective
means to enhance shareholder value. At the present time, the
Company does not have any agreement, arrangement or understanding
with respect to any investment, including any cannabis or hemp
operation. Such investment, if agreed, will be subject to TSX
Venture Exchange (the “
TSXV”) approval and
compliance with any conditions to such approval.
The federal Agricultural Improvement Act of
2018, commonly known as the USA Farm Bill, has had a very large,
positive impact on the US hemp industry and has, as a result
legalized CBD sales in all 50 states, provided that the CBD
products comply with all of the federal regulations, state level
regulations, and other guidelines consistent with the USA Farm
Bill. The Brightfield Group, a market and consumer
intelligence firm for the legal CBD and cannabis industries,
estimates that the USA CBD market could reach over $23 billion in
annual sales by 2023.
On behalf of the Board of Directors:Bob
VerhelstPresident and CEO
Forward Looking
Statements
This press release contains certain statements
which constitute forward-looking statements or information
(“forward-looking statements”), including
statements regarding Huntington’s intentions to explore and
evaluate strategic alternatives, including potential investments in
the USA industrial hemp industry. Such forward looking statements
are subject to numerous risks and uncertainties, some of which are
beyond Huntington's control, including the availability of
potential investments on reasonable terms, the ability of the
Company to complete or finance such investments if located, impact
of general economic conditions, industry conditions, price
volatility, currency fluctuations, environmental risks, competition
from other industry participants, the lack of availability of
qualified personnel or management, stock market volatility and the
ability to access sufficient capital from internal and external
sources. Although Huntington believes that the expectations in its
forward-looking statements are reasonable, they are based on
factors and assumptions concerning future events which may prove to
be inaccurate. Those factors and assumptions are based upon
currently available information. Such statements are subject to
known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or
events to differ materially from those stated, anticipated or
implied in the forward-looking information. As such, readers are
cautioned not to place undue reliance on the forward-looking
information, as no assurance can be provided as to future results,
levels of activity or achievements. The forward-looking statements
contained in this document are made as of the date of this document
and, except as required by applicable law, Huntington does not
undertake any obligation to publicly update or to revise any of the
included forward-looking statements, whether as a result of new
information, future events or otherwise. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement.
Neither the TSXV nor its Regulation
Services Provider (as that term is defined in the policies of the
TSXV) accepts responsibility for the adequacy or accuracy of this
release.
Huntington Exploration Inc.Bob VerhelstT.
587-351-3538www.huntingtonexploration.ca
Huntington Exploration (TSXV:HEI)
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