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BullnBear forms JV with Hemp Network for new products
May '11
The Hemp Network and CannaBANK Inc's acquisition arm in the United States have joined forces with the BullnBear Group, S.A. of Guatemala City, Guatemala to provide hemp-related products from Guatemala into The Hemp Network's marketing platform.

The joint announcement was made from both San Diego, California (headquarters of CannaBANK) as well as from Guatemala City, Guatemala (home of the BullnBear Group, S.A.).

Guatemala is well known for its textile development and processing facilities but also for its indigenous group of workers who are talented in producing hand-weaved products. The BullnBear group, S.A. is in the process of contracting with a Guatemalan Government Charity program, known as the Cooperatives, who provide employment for these indigenous workers.

The Cooperative workers would be producing fine quality hemp purses, pocketbooks, wallets, belts, shoes and related products for distribution through the efforts of The Hemp Network. Other clothing products would be contracted for production through various Maquila's (textile production factories) in Guatemala. These clothes would be socks, shirts, t-shirts, pants and the like. Many top fashion designers are now using hemp for their upscale clothing lines, as it is very "green," holds shape well and has breathable properties -- keeping one warm in winter yet cool in summer.

The BullnBear Group, S.A. has been selected by The Hemp Network to line up contractual arrangements to have end products manufactured and delivered to facilities in the USA. Here the worldwide efforts of The Hemp Network team will distribute to end consumers.

Industrial hemp is a natural and valuable resource that grows without fertilizers and pesticides -- hemp actually feeds the soil with added nutrients for each crop produced. Although illegal to grow industrial hemp in the USA, recent laws are changing to allow US farmers access to this plant that was once grown abundantly in US soils. Presently there are many countries around the world where hemp can be grown legally, including US neighbor Canada.

Hemp products are seen as very "green" by modern conscientious people, as the plant requires no artificial chemicals to grow (unlike cotton for instance) and adds nutrients back to the soil. Hemp products are durable and will last a lifetime. Industrial hemp has over 55,000 known uses, including that for Bio-Fuel, Building Materials, Textiles and Food. Hemp oil and the hemp seeds are extremely nutritious, containing significant essential fatty acids and a balanced mix of protein, vitamins and trace minerals.

Maya Solombrino, President of BullnBear group, S.A., was quoted: "This is a very exciting announcement for us to have been chosen as the 'on the ground' presence for The Hemp Network in locating and developing hemp products." "We are very excited to develop this with the wonderful Guatemalan charity organization, known as the Cooperatives."

Stuart W Titus, PhD, BullnBear Group VP and CFO went on to comment before reporters: "Industrial hemp is a wonderful way for us all to move forward as a society -- while at the same time, recapturing the hemp tradition that founded America." "For instance, Thomas Jefferson was a hemp farmer and buildings at Balboa Park, a historical landmark in San Diego, California, were constructed from hemp building materials."

BullnBear Group S.A.

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