Hemp, Inc. Settles Longstanding Lawsuit with SEC

Hemp, Inc. and Bruce Perlowin have been under a legal microscope since the SEC filed their civil lawsuit.

Las Vegas, NV, Dec. 04, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Hemp, Inc. (OTC PINK: HEMP) announced that it has settled the longstanding 5-year old SEC civil case. Hemp, Inc. and Bruce Perlowin have agreed to settle the civil suit against them without admitting or denying the SECโ€™s allegations. Perlowin is transitioning from CEO to Chief Visionary Consultant (CVC) and will not be managing the day-to-day tasks of the company. He will, however, remain as the true visionary Hemp, Inc. shareholders have come to admire and respect.

The Company remains committed to its longstanding goals and will be aggressively moving forward to add new blood and new ideas to the management of the company. In the first quarter 2021, Hemp, Inc. will expand its knowledge base by bringing in a new CEO and new members of its Board of Directors.

WHAT IS HEMP, INC.?

Hemp, inc. logo
Hemp, Inc. is a publicly traded company (OTC: HEMP) that was founded in 2008.

What is Hemp, Inc.? With a deep-rooted social and environmental mission at its core, Hemp, Inc. seeks to build a business constituency for the American small hemp farmer, the American veteran, and other groups experiencing the ever-increasing disparity between tapering income and soaring expenses. The Company is on a mission to be a powerful engine for social change and economic revival, worldwide, by providing hemp products that are eco-friendly, sustainable and healthy. Hemp, Inc. executives believe there can be tangible benefits reaped from adhering to a corporate social responsibility plan.

HEMP, INC.โ€™S ELEVEN DIVISIONS

It has been Hemp, Inc.โ€™s intent to continually invest in building its hemp infrastructure, especially since none existed previously. In fact, the Company has instinctively been following the same path as Amazonโ€ฆ reinvesting profits and operating capital back into building the infrastructure. This is a business strategy that has been proven and works well.

All the years leading up to this point were building and finishing the largest hemp infrastructure in America and now the Company is focusing 90% of its efforts on marketing and generating revenues. The result, so far, has been almost crossing the million dollar mark in revenue in just 10 weeks.

Hemp, Inc.โ€™s eleven divisions are as follows:

Division One โ€“ The Industrial Hemp Infrastructure

Division Two โ€“ The Hemp Farming Infrastructure

Division Three โ€“ The Hemp Extraction & Pre-Roll Blending Infrastructure

Division Four โ€“ The Hemp Educational Infrastructure

Division Five โ€“ The Hemp Marketing Infrastructure

Division Six โ€“ Accessories, Products and Services

Division Seven โ€“ Research and Development

Division Eight โ€“ Industrial Hemp Investments and Joint Ventures

Division Nine โ€“ Industrial Hemp Consulting

Division Ten โ€“ Educational Entertainment

Division Eleven โ€“ Medical and Recreational Marijuana

FORWARD-LOOKING DISCLAIMER AND DISCLOSURES

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. The Securities and Exchange Commission (SEC) requires issuers to provide โ€œadequate current informationโ€ and Hemp, Inc. doesโ€ฆ using the SECโ€™s Alternative Reporting Standard to publicly report its quarterly and yearly financials. All current information can be found on www.hempinc.com/hemp-financial-disclosures/. 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.

Contact:

Hemp, Inc.

855-436-7688

ir@hempinc.com

More Contacts:

flower@hempinc.com

hempu@hempinc.com

ctinney@hempinc.com

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