Hempacco Co., Inc. (NASDAQ: HPCO) ("Hempacco" or the "Company"), a hemp smokables company that is Disrupting Tobacco™, a nearly $1 Trillion industry, with hemp cigarettes, smoking paper, and other alternatives to nicotine tobacco, announced today it has entered into a joint venture agreement with Sonora Paper Co., Inc. ("SPCI") to manufacture, market, and distribute hemp blunt wraps, hemp tubes, and hemp smoking cones based on SPCI's intellectual property.
Hempacco forms JV with Sonora Paper Company
Hempacco had formed The Real Stuff, Inc., a Delaware corporation, in March 2021 and recently filed a certificate of amendment, changing the corporate name to Hempacco Paper Company, Inc. Hempacco owns 80% of the equity interests of Hempacco Paper Co., Inc., and Sonora Paper Co., Inc. owns 20%. Hempacco Paper Co., Inc., will develop and manufacture the smoking paper products in the USA and Mexico.
"The products and techniques we have spent the past 10 years developing will reach a wider audience," stated Daniel Kempton, Director of Sonora Paper Company, Inc. "and progress and development will happen much more rapidly through this partnership with Hempacco."
Up to this point, items like hemp tubes and wraps have been supplied almost entirely by overseas manual labor. Hempacco Paper Company is changing the game by introducing new mechanized processes to the manufacture of hemp tubes and wraps, right here in North America. The distance between factory and client has been reduced drastically, resulting in shorter transit times. Mechanization also enables much higher production speed and volume - more can be made faster. Other benefits of the mechanical processes include superior quality and consistency compared to hand-made counterparts, plus new options like custom shaped wraps or the addition of a printed logo.
"There is currently a scarcity of blunt wraps in the marketplace and this new joint venture will help us carve out that niche for Hempacco," explained Jorge Olson, Co-Founder and CMO of Hempacco. "We will manufacture hemp smoking products, rose petal smoking products, and other unique blunts and cones leaving our mark in the cannabis industry without actually touching the cannabis," concluded Mr. Olson.
"I am thrilled to see how we are growing our company through new joint ventures, this time joining forces with Daniel Kempton of Sonora Paper Co," stated Mr. Sandro Piancone, Co-Founder and CEO of Hempacco. "We are using their patents and patent-pending technology to dominate the smoking paper product field," concluded Mr. Piancone.
About Hempacco, Co. Inc.
Hempacco Co., Inc.'s goal is Disrupting Tobacco's™ nearly $1 trillion industry with herb and hemp-based alternatives to nicotine cigarettes by manufacturing and marketing herb, spice, and cannabinoid smokables and rolling paper. Hempacco owns The Real Stuff™ functional hemp cigarette and rolling paper brand.
Hempacco's operating segments include:
Learn more at www.hempaccoinc.com
Order products at www.realstuffsmokables.com
About Sonora Paper Company, Inc.
Sonora Paper company is an OTP company, specializing in product development, sourcing and logistics solutions. Sonora Paper Company was started in response to a growing need for better solutions in the marketplace. It was founded by a group of individuals with a deep background in OTP (Other Tobacco Products) development, manufacturing and distribution. We are combining this experience and knowledge to bring a faster, more flexible experience to the marketplace and our customers.
Learn more at www.sonorapaper.com/
Safe Harbor Statement
This press release contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as "may," "should," "expects," "anticipates," "contemplates," "estimates," "believes," "plans," "projected," "predicts," "potential," or "hopes" or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: (i) potential failure to meet projected development and related targets; (ii) changes in applicable laws or regulations that may impact our products and business; (iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the "SEC") by the Company. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
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