FOR IMMEDIATE RELEASE December 12, 2018
Atalo Holdings and GenCanna Global USA to form Hemp Partnership
• Strategic partnership will align the companies’ cultivation operations
• GenCanna makes initial minority investment in Atalo
WINCHESTER, KY December 12, 2018 – Atalo Holdings Inc. (“Atalo”) and GenCanna Global USA (“GenCanna”), jointly announced today that the companies have entered into a strategic partnership that will align the companies’ cultivation operations, and includes an investment from GenCanna. The partnership will create the largest vertically integrated hemp-derived CBD production, processing and distribution alliance in Kentucky.
“The hemp CBD industry is growing exponentially and presents a real opportunity for rural economic development, with tremendous enthusiasm from consumers,” said Atalo CEO William Hilliard. “We’ve been neighbors and partners with GenCanna in the Hemp Research Campus since 2015. This partnership is a natural evolution that will enable both companies to focus on best-in-class operations and will provide excellent economies of scale,” he said.
The 147-acre Hemp Research Campus, in Winchester, Kentucky, is home to both Atalo and GenCanna’s vertical supply chain operations, and now employs more than 100 Kentuckians. The partnership will provide industry leadership, proprietary hemp genetics, proven agronomic systems, and expanding processing capacity that meets or exceeds Good Manufacturing Practices (GMP), as well as the highest FDA standards for premium-quality bulk and finished goods. This strategic partnership will unlock new supply chain efficiencies, which is critical as the next year will represent a significant expansion for both companies from thousands to tens of thousands of acres.
“Atalo is revered in Kentucky for good reason. As seventh generation family farmers, this is personal for them, as it is for us. They have been a leader in forging a sustainable economy for Kentucky farmers, and together we will strengthen Kentucky’s position as the nation’s first, best place for hemp cultivation,” said Matty Mangone-Miranda, CEO of GenCanna. “This is in no small way due to Atalo’s seasoned leadership team and world-class farming network. They are competitors, friends, and now great allies. Together, we intend to be careful stewards as we shatter expectations and return Kentucky to its historic position as the hemp capital of the world,” he continued.
Demand in the undersupplied hemp CBD market is expected to explode with the passage of the 2018 Farm Bill. This partnership will be a seminal step in the nascent industry, which, according to the Brightfield Group, is expected to reach $22 billion by 2022. According to Hilliard, “This partnership will allow the combined companies to attract the best and brightest farmers with low-risk, proven agronomic solutions, and a long-term, reliable crop marketing program.”
“This is the first step of many we will be taking together. I believe in Atalo. I believe in their leadership. And I have always believed in Kentucky,” added Mangone-Miranda. “This is part of the promise we made years ago to the Kentucky Department of Agriculture. The hemp market is booming, and together we will ensure our farming partners take part in the market’s success.”
About Atalo Holdings, Inc.
Atalo leads the emerging hemp industry with transformative technologies in hemp-based crop science. Our Hemp Research Campus incubates an agricultural model for seed improvement, agronomics, mechanical harvesting and processing techniques from our home in Winchester, Kentucky. We grow, process and deliver wholesale and white label hemp-derived CBD and “superfood” hemp protein. Atalo’s proprietary, certified, internationally pedigreed seed and agronomic model allow us to scale efficiently, with consistency and quality, from fence row to fence row. For more information visit www.ataloholdings.com
About GenCanna Global, Inc.
GenCanna is a vertically-integrated agriculture-technology company specializing in the production of hemp rich in CBD. Founded in 2014, as an inaugural member of the Kentucky Department of Agriculture’s Industrial Hemp Pilot Program, the company is a longstanding industry pioneer. GenCanna works closely with state universities, consumer protection agencies and other regulatory bodies driving key industry language and legislation. Consistent extraction methods and innovative processing technologies ensure GenCanna production processes exceed all regulatory standards for FDA registered and inspected food production facilities (learn more at https://gencanna.com/compliance/). The GenCanna Production PlatformTM assures standardized, repeatable quality from farm to finished product.
Joe Hickey, 859-559-4550, Ext 104 Jjhickey@ataloholdings.com, firstname.lastname@example.org William Hilliard, 859-312-7358 Bhilliard@ataloholdings.com
Alex Green, GenCanna KY