Surf Air Mobility

Hempacco Expands Nutraceutical Manufacturing Capabilities with Strategic Acquisition of Covalent CBD

21 March 2024
  • Innovative move should secure a larger foothold in the hemp and mushroom supplement industry, promising enhanced product offerings and market reach

San Diego, California--(Newsfile Corp. - March 21, 2024) - In a strategic move designed to significantly enhance its manufacturing capabilities and customer base in the nutraceutical industry, Hempacco Co, Inc. (NASDAQ: HPCO) ("Hempacco"), announces the strategic acquisition of a portion of Covalent CBD's assets, a leading white-label and private label nutraceutical company. This acquisition marks a significant milestone in Hempacco's ongoing efforts to expand its footprint in the rapidly growing sectors of hemp and mushroom nutritional supplements.

Covalent CBD, renowned for its extensive client base and robust procurement network in the nutritional supplement arena, especially within the hemp industry, has established itself as a powerhouse in white-label and private label manufacturing. Hempacco's acquisition of a portion of Covalent CBD's assets not only promises to broaden its service offerings but also to fortify its position as a key player in the nutraceutical market.

"This acquisition should be a game-changer for Hempacco, allowing us to leapfrog our capabilities in hemp and mushroom product manufacturing," stated Sandro Piancone, CEO of Hempacco. "By integrating a portion of Covalent CBD's assets, we're not just expanding our production capacity; we believe we'll expand our sales to a larger network of clients, and expand our network of suppliers, which should propel our growth and innovation in the nutraceutical space."

Covalent CBD's expertise in producing a wide array of nutritional supplements should provide a valuable foundation for Hempacco to service new customers under the new manufacturing umbrella. Furthermore, the retention of Covalent CBD's management team by Hempacco should facilitate product offering and manufacturing expansion plans at Hempacco's state-of-the-art manufacturing facility in San Diego, CA.

"We are thrilled to join forces with Hempacco," expressed Kelly Ann Lewis-Bortman, President of Covalent. "Our combined strengths in innovation, manufacturing, and customer service will enable us to deliver unparalleled value to our clients and set new standards in the industry. This partnership represents a perfect synergy between our companies' visions and capabilities."

This new partnership now offers white label and private label R&D and manufacturing, specializing in intellectual property driven projects such as:

  1. Mushroom extraction using only water and magnets
  2. Beverage and shot R&D and manufacturing in hemp and functional mushrooms
  3. Gummy production, including custom molds, with mushrooms, Delta 9, Delta 8, CBD, CBN, and other cannabinoids
  4. Manufacturing of pills, capsules, tinctures, and other nutraceuticals using Hempacco's IP
  5. Production of Hemp Blunts smoking paper

As Hempacco continues to expand its reach and develop its portfolio through such partnerships, acquisitions and organic growth, the company is poised to redefine the landscape of the hemp and mushroom nutraceutical industry.

About Hempacco
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 is a majority-owned subsidiary of Green Globe International Inc. (OTC Pink: GGII), a fast-moving consumer goods incubating company.

Hempacco's operating segments include:

  1. Manufacturing of smokables, hemp rolling paper, and cannabinoid sticks
  2. Smokable technology development
  3. The Real Stuff™ brand of functional smokables and rolling paper
  4. Cheech and Chong Hemp Cigarettes and Hemp Hop Smokables with Rick Ross
  5. Snoop Dogg Joint Venture of Hemp-Derived Products

Learn more at www.hempacco.com

Learn more at www.ggiigroup.com

Order products at www.realstuffsmokables.com

About Covalent
Covalent stands as a distinguished wholesale distributor of premium cannabinoid ingredients and retail-ready finished products, known for its commitment to excellence in serving its clientele. Recognizing the significance of delivering superior products and services, Covalent collaborates with the top specialists in each sector within the industry. This strategic partnership enhances their comprehensive suite of core capabilities, facilitating a seamless turn-key product development and CBD manufacturing solution for their customers.

Their expansive expertise, unparalleled agricultural supply chain, a network of elite manufacturing partners, and in-house capabilities position the Covalent Wholesale CBD Company as an essential resource for any hemp product business or brand. With a wealth of resources at their disposal, Covalent provides everything necessary for businesses to flourish and achieve success in the dynamic CBD market. Visit www.covalentcbd.com to learn more.

Order Products at www.CovalentCBD.com

For investor inquiries, please contact:
Sandro Piancone, CEO
Investor Relations: This email address is being protected from spambots. You need JavaScript enabled to view it.
619-779-0715

Kelly Ann Lewis-Bortman, President (CovalentCBD)
This email address is being protected from spambots. You need JavaScript enabled to view it.
702.766.4367

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, revenue and earnings growth, and 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 "S.E.C.") 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.

Sign Up To Get Daily Green Stock News In Your Inbox

Please review our Disclaimer and Privacy Policy before subscribing.

STOCK QUOTE

FEATURED GREEN STOCK

Hillcrest Energy Technologies

Hillcrest Energy Technologies is a clean technology company developing high value, high performance power conversion technologies and digital control systems for next-generation powertrains and grid-connected renewable...

CLICK TO LEARN MORE

FEATURED GREEN STOCK

GreenPower Motor

GreenPower Motor designs, builds and distributes a full suite of high-floor and low-floor all-electric medium and heavy-duty vehicles, including transit buses, school buses, shuttles, cargo van, and a cab and chassis...

CLICK TO LEARN MORE

COPYRIGHT ©2022 GREEN STOCK NEWS