• TasmanianHempAssociation

Official Call For Investors for Mobile Hemp Processing Unit

Since our last updates - which can be seen here and here - on this project's progress, things continue to move ahead with the process of the buying the first Mobile Hemp Processing Unit (MHPU) for our state.

While the project was initially spearheaded by and continues to be fully supported by the THA, the venture is now being handled privately by newly formed entity X-Hemp. Capital is being raised by X-Hemp founder and THA Executive Officer Andi Lucas in a very clean-and-simple manner. Initial contributions will be used to purchase the machine and cover start-up costs. Interested parties with a minimum of $5,000 to invest are being offered a 5% return over a loan term of just over three years. Early interest in this opportunity has been strong, with several investors already onboard.

Given the events of the past week, and several key meetings which have just occurred or are scheduled over the coming days, it seems increasingly likely that there will be either or both State and Federal Government financial support on something like a dollar-for-dollar basis. While all the initial projections have been run and the numbers look great, a full and detailed prospectus is still being finalised. This comprehensive document will be made available to all interested parties over the coming week or so, and the order for the machine will be placed within the fortnight (mid-September).

The THA knows that the acquisition of this essential piece of equipment - which will be the only one of its kind on the island of Tasmania - is going to make a huge difference for our growers as an additional value-add for what is currently being treated as a waste product.

If you have any questions about this project, you can contact X-Hemp directly via phone or email with any enquiries.

1300 943 677 [1300 XHEMP7] info@x-hemp.net www.x-hemp.net


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