8 Oktober 2002

Canadian hemp industry flourishes as companies post strong financial results

BARRIE, Ontario — Hempola Inc. announced today record revenue increases at 40 percent above its previous fiscal year results. As well, the company has almost completed its first six months of its current fiscal year and is tracking a strong 27 percent above its prior 40 percent increase. Greg Herriott, President and Founder comments, “We are thoroughly delighted with our financial results. Our company is experiencing a very healthy growth rate… a rate which is most likely parallel with the growth of the overall hemp industry in Canada.”

Albeit, the Canadian hemp industry, like most emerging industries, has had its share of peaks and valleys. It seems however, the industry is leveling to a sustainable and positive rate of growth. Mr. Herriott notes, “The industry is seeing its first signs of maturity. More and more consumers are learning about many of the positive effects and attributes of hemp. Hempola has certainly had its share of ups and downs… we are now starting to see a much more consistent, month to month increase and we feel these increases are in direct proportion to the rate of awareness building in the marketplace.”

Hempola Valley Farms with its brand name HEMPOLA™ grows, manufactures and markets Canadian grown hempseed and hempseed oil products through national distributors throughout Canada and the U.S. and is a leading dedicated developer and marketer of hempseed derivative products for food, vitamins and supplements, personal care, bulk ingredients and industrial products.

For more information, contact:
Greg Herriott
Tel: (800) 240-9215
URL: www.hempola.com

Copyright © 2002, Hempola. All rights reserved.

Source: Global Hemp-News vom 2002-09-26.

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