SPRING HOPE, N.C. — It was announced Tuesday that a global leader in the industrial hemp industry with bi-coastal processing centers, including the largest multi-purpose industrial hemp processing facility in Spring Hope, N.C., a state-of the art local processing center in Southern Oregon, a 500-acre hemp growing Veteran Village Kins Community in Golden Valley, Ariz., two model “Small Family Hemp Farms” in North Carolina and Arizona, and a pre-roll blending manufacturing facility in Las Vegas, Nev.,  announced today that Hemp, Inc.’s wholly owned subsidiary, Industrial Hemp Manufacturing, LLC (IHM), is now fulfilling a $1 million sales agreement for its DrillWall™, their proprietary kenaf-hemp blend natural Loss Circulation Material (LCM) product for the oil and gas well drilling industries.

The Company has executed a sales agreement to sell $1 million worth of DrillWall™ over the course of one year. According to Hemp, Inc. CEO, Bruce Perlowin, IHM received its first $30,000 payment and shipped the first batch of DrillWallTM out about a month ago.

(Monday), another $60,000 payment was received for the second batch of DrillWallTM. “We expect another $90,000 to go out this month and $150,000 to be shipped in March with the balance being shipped throughout the rest of 2020,” said Perlowin. IHM is based in Spring Hope, North Carolina, and is the production facility for DrillWall™, along with other industrial hemp products.