Hemp, Inc. Signs $750,000 Distribution Deal With KUSH, Inc.
LAS VEGAS, March 7, 2013 /PRNewswire/ -- Hemp, Inc. (OTC: HEMP) is proud to announce that it has signed a deal with KUSH ( www.kushcorporate.com) to distribute a line of natural hemp-based skin care products featuring the unique properties of the hemp plant which provides powerful relief and scientific cellular rejuvenation. As consideration for licensing rights, Hemp Inc. (OTC: HEMP) will immediately transfer 10,000,000 shares of their stock, which is currently trading for about $0.058 per share, to KUSH, a private firm.
"This is a company that we believe will soon be the gold standard for 100% legal hemp-based products that can provide unprecedented relief from pain, promote rapid healing, and restore damaged skin," said Hemp, Inc. President, David Tobias.
"KUSH offers Hemp, Inc. the right vehicle to gain a dominant position in the sale of over-the-counter hemp-based skin care line market by joining forces with a new company featuring revolutionary products. In addition, we have tremendous faith in KUSH's CEO, Steve Kubby, who played a key role in the passage of Prop. 215 and was the second person in history to launch a publicly traded cannabis company," added Tobias.According to KUSH's CEO, Steve Kubby, KUSH has recruited a world class management team. "Our Board of Directors includes former Governor Gary Johnson, former US Senator Mike Gravel, jurist James P. Gray and former LAPD Deputy Chief Steven Downing, so we are fortunate to have a uniquely qualified team that is well versed in US federal drug laws and policies." "KUSH is in an acquisition mode right now. We are seeking strategic partners who can create synergistic relationships with us. For example, we're also interested in acquiring skin care and cosmetic companies to help us cover the demand for hemp-based CBD rich creams and salves. We have investors who will put up $1-3M on the increase in equity created by merging two companies like this. That means cash to take both companies to the next level. We're thrilled with our new contract with Hemp, Inc. and we're scrambling to cover all the new orders. Despite this sudden growth, KUSH is committed to remaining debt-free and focused on fundamentals such as building equity, earning trust from our customers and stockholders, delivering superior products and giving back to the community," said Kubby. KUSH has also recruited world cannabis authority Ed Rosenthal, as their Director of Research. The "Guru of Ganja" said he is enthusiastic about the new venture. "We will be producing both intermediate and retail products. The intermediate products are infused syrups used by other manufacturers to manufacture infused edibles. We have many choices of retail products we will produce; edibles, drinks, lozenges, even gum," beamed Rosenthal. ABOUT Hemp, Inc. Hemp, Inc. (OTC: HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry, allowing to freely market in all 50 states. Hemp, Inc. currently is not involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of growing hemp and medical marijuana in all 50 states and at the federal level will come to pass very quickly now. With that in mind, the company is building the infrastructure with the potential to gain substantial market share before and after industrial hemp and medical marijuana prohibition ends.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV