LAS VEGAS, Jan. 30, 2014 (GLOBE NEWSWIRE) -- Hemp, Inc. (OTC:HEMP) announced today that its wholly-owned subsidiary, Marijuana, Inc. has signed a "Letter of Intent" (LOI) with VaporBrands International, Inc. (OTC:VAPR). Both Marijuana, Inc. and VaporBrands International, Inc. have agreed to form a joint venture whereby Marijuana, Inc. will assist VaporBrands International with the development and distribution of specialized marijuana vaporizing products. The products will be sold, primarily, through existing medical marijuana dispensary networks and traditional outlets for electronic cigarettes in the non-medical cannabis market outlets.
"This venture with VaporBrands is indicative of Hemp, Inc.'s marketing reach," said Bruce Perlowin, CEO of Hemp, Inc. "The letter of intent was actually brought to us through our consulting division, The Industrial Hemp and Medical Marijuana Consulting Company, Inc. (IHAMMCC). I'd say, we probably have the best connected consulting company in the industry, since we were the ones that started the sector," Perlowin continued.
According to Perlowin, Hemp, Inc.'s consulting division (IHAMMCC) evaluates other public companies business plans to help move them into the "now explosive" medical marijuana stock sector, a public sector started by Bruce Perlowin.
Perlowin's son, Aubree Arias, CEO of Compassion Capitol, LLC, says his father has, "made great strides in unifying and educating the public about the industrial hemp and marijuana industries. Before my father took Medical Marijuana, Inc. public, there were no publicly traded corporations in this arena. He had the courage to be a pioneer and risk bringing Medical Marijuana, Inc. into the public equities market. Taking on the stigma associated with medical marijuana and even hemp, has not been an easy road but he has paved the way, and we are seeing the fruits of that with well over two dozen publicly traded entities in this sector. Now we are poised to have Hemp, Inc. (http://www.hemp.com) become the 'Amazon' of the hemp world, as we expect continued rapid growth in the industry."
Both companies have also agreed to develop and distribute vaporizer products for the sole use of Hemp Oil in natural medicine. Per the LOI, Marijuana Inc. has also agreed to assist VaporBrands expand the retail distribution of its current and future electronic nicotine-based cigarette products.
"This will create new marketing and distribution capabilities for both Marijuana, Inc. and VaporBrands International," stated Hemp, Inc. Secretary Craig Perlowin. "The Company is on the forefront of bringing educational news, issues, entertainment and education related to the Medical Marijuana Industry and to those who have an affinity to the industry via a variety of strategies including social marketing, speaking and exhibiting at industry events, doing media interviews and filming for the www.marijuanainc.tv website that interviewed patients such as Chaz Moore who was later featured on Sanjay Gupta's "Weeds", and informative in-house productions that have provoked change, such as "HempOvations".
Collectively, the almost three dozen medical marijuana stock companies have traded well over a billion shares this year.
It is expected that the parties in the joint venture will issue joint press releases with further details as soon as the definitive agreement is completed. These pending announcements will be issued.
ABOUT MARIJUANA, INC.
Marijuana, Inc., is currently a wholly-owned subsidiary of Hemp, Inc. (OTC:HEMP). Just as Hemp, Inc. has marched forward advocating for the legalization of hemp, Marijuana, Inc. has been at the forefront of the legalization movement. The Board will take up the matter of splitting off Marijuana, Inc. as a completely separate subsidiary, as its mission is to cautiously explore the medical marijuana industry. Hemp, Inc.'s primary focus is on industrial hemp and the over 25,000 products it can produce, which is legal in all 50 states. However, Marijuana, Inc. was retained by Hemp, Inc. (OTC:HEMP) to take advantage of the economic opportunities to be found, specifically in the medical cannabis, recreational marijuana, or peripheral industries such as this one.
ABOUT VAPORBRANDS INTERNATIONAL, INC.
VaporBrands International, Inc. is a marketing and development partner for manufacturers of electronic cigarettes. Electronic cigarettes represent the future of smoking; they produce no smoke, tar, ash or offensive odor while containing about the same amount of nicotine as traditional tobacco cigarettes. Unlike traditional tobacco cigarettes, electronic cigarettes can be used in many public places currently restricted from smoking. VAPR intends to focus on creating opportunities for culturally relevant brands seeking to acquire significant market share in the rapidly growing "vaping" sector of the global marketplace.
ABOUT HEMP, INC.
Hemp, Inc. (OTC:HEMP) focuses on the vast market created by the quickly emerging, and growing, multibillion dollar industrial hemp industry. Hemp, Inc. (OTC:HEMP) is not involved in the cultivation or marketing of medical marijuana. It is the company's belief that legalization of hemp in all 50 states and at the federal level will come to pass. With that in mind, the company is building infrastructure with the potential to gain substantial market share before and after industrial hemp prohibition ends. (Pending any federal licensing or other requirements, that may be enacted after hemp prohibition ends).
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Hemp, Inc. to be materially different from the statements made herein.
Source: Hemp, Inc.