Blackhawk Makes Strategic Investment in Private Hemp CBD Company
CALGARY, Alberta, Nov. 22, 2018 (GLOBE NEWSWIRE) — Blackhawk Resource Corp. (“Blackhawk” or the “Corporation”) (BLR: TSX-V) is pleased to announce that it has made a strategic investment in a private company that is active in online Hemp and Cannabidiol (“CBD”) premium handcrafted products (“HempCo”). This is an equity investment whereby Blackhawk will own approximately 20% of HempCo and will have the opportunity to increase that ownership percentage significantly over time.
The Hemp/CBD industry grew to more than $350 million in consumer sales in the US alone in 2017. Industry experts project the industry to be well over $1 billion in annual sales in the US by 2020. Cannabidiol is one of more than 85 cannabinoids so far identified in marijuana and hemp. Unlike tetrahydrocannabinol (THC), CBD is not psychoactive. Hemp/CBD products have shown to positively effect epilepsy, anxiety, insomnia, inflammation, skin care and pain management.
Blackhawk is thrilled to have the opportunity to become a significant shareholder in an existing operator. HempCo. has created an e-commerce store with an array of Hemp/CBD products. HempCo. is based out of Denver, Colorado, currently ships to all 50 US states, and plans to expand to Europe and Asia. All current products are organic, gluten free and contain no GMOs. Furthermore, all products contain no THC and therefore no psychoactive properties.
For further information please contact:
Dave Antony, CEO
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