Hempco Food and Fiber Inc. says it plans to build a 56,000-square-foot hemp foods-processing facility at Nisku.
In a press release, the company said it had obtained a lease for (with an option to purchase) 4.7 acres from Redco Properties.
“Hempco is presently producing about 200,000 pounds of hulled hemp seed per month at its MacGregor, Man. facility and expects the Alberta location hemp seed-processing equipment will produce approximately 240,000 lbs./month, with scalable plans for six times that amount or about 1.3 million lbs./month,” the release stated. “Phase 1 install completion target is April 2017.”
“Getting closer proximity to supply from the western Prairies, logistically and financially, just makes sense,” added Charles Holmes, the company’s CEO.
The company, headquartered in Burnaby, B.C., trades on the TSX Venture Exchange. It produces four main hemp seed products: oil, seed nut, protein powder, and seed shells. Its most recent financial statement reported sales of $3.9 million for a nine-month period ending May 1.