Santa Clarita, CA -- November 27, 2017 -- InvestorsHub NewsWire
-- USEI CANNABIS Initiatives CORP, a wholly owned
subsidiary of US ENERGY INITIATIVES CORPORATION,
INC. (OTC
PINK: USEI) is a California based company is pleased
to announce it has purchased its first MRX 20L Super-critical CO2
Botanical Extraction Unit to be used for the express purpose of
participating in the California cannabis industry. On January 1,
2018, California (the largest black market for cannabis in the
world) becomes the largest legal cannabis market in the
world...with an estimated market of approximately $6.8 billion
dollars. This unit is the first of many that will be procured in
2018 to help provide our California's industry with this vital
extracted resource...that is contained in a wide range of cannabis
products. This oil is the most significant product produced in this
legal industry...and the most profitable sector of this
industry.
According to Anthony Miller, CEO, "we have
just raised over $220,000 in capital to begin our new venture, a
strategic partnership with certain cannabis acute investors and
USEI is the majority partner and USEI's management and staff will
operate the venture on a daily-basis in the Los Angeles area. We
have gone to great lengths to develop a venture for the Company
that is not dilutive to the share structure of USEI...we have had
many offers for capital that would have flooded billions of
additional shares of stock into the marketplace; and we resisted
that urge to procure capital that would have dramatically increased
our share structure.
"Two weeks ago, we purchased our first MRX 20 Liter
Supercritical CO2 Xtractor and our goal is to acquire 2 more units
in 2018. These devices require 9-18 pounds of cannabis daily (500
pounds per month) and we plan to place the second unit on line in
January or February or, as soon as, we can secure a supply chain of
feed-stock. Management will examine acquiring a 100 Liter unit if
sufficient feedstock and the demand requires it. The MRX technology
is arguably the best available cannabis extraction device on the
planet, extracting the highest yield per pound and the best quality
cannabis oil and clients have won many 'Cannabis Cup' awards for
quality over the past few years."
Note: MRX has dozens of these units in the legal states of
Colorado, Oregon, Washington and now California and based upon
those operations (and revenue models) USEI is projecting that it
will produce approximately $5.4 million dollars in revenue in 2018.
We have a business plan that will also include cannabis extraction
using hydrocarbon techniques, so collectively we intend to produce
wax, shatter, CO2 oil, hash, pure THC, CBD, BHO and RSO. This
venture will fund our future growth strategy however, when we take
additional capital, it will be used to enhance our operations; and
it will not be detrimental to our current share structure.
California has an enormous demand for extracted products and the
demand is projected to grow each year that there is recreational
cannabis. Along with this production equipment, we intend to
procure a significant amount of post-production equipment which
allows us to produce a finished product of the highest quality. Our
goal is to be known as a company that produces the highest quality
product and our goal is to be mentored by many of the successful
MRX clients that have been doing this for years. This venture is
designed to be replicated in every state that seeks to sell legal
cannabis.
"This is a venture that we have been working on for many
years...We have been waiting with anticipation for California to
become legal for recreational cannabis...The time has come for USEI
to become a strong participant in this industry; and that is our
goal. In the next 2 to 3 months, we are projecting to report at
least 10 milestones that will be significant to our overall success
and each should be memorized by a press release...As many of you
know, I only put out press of significant milestones and we have
many coming. Additional information about the MRX technology can be
found at http://mrxxtractors.com/, and our
website www.useicannabis.com/web or our Facebook
page...
"Without a doubt this is a significant milestone for USEI and it
is only the beginning of what we have in store for 2018; also
noteworthy is that this device is slated for delivery to us before
Christmas. Because of this fact we plan to begin cannabis
production with our extractor in 2017; and we are actively working
on obtaining provisional licenses to begin our operation next month
once our unit arrives. I want to thank those investors who have
diligently hung in there while we had been working behind the
scenes to make this venture come to life... and we hope that our
good work will become beneficial to you all. Thanks again;
finally," commented Miller.
About U.S. Energy Initiatives: U.S. Energy
Initiatives Corporation (OTC
PINK: USEI) is a diverse energy
firm. USEI, and its wholly owned subsidiary, USEI
Cannabis, business' center on hemp to energy,
everything cannabis related and developing products and services
for the marketplace. Our Ultimate
Cure & Real McCoy Genuine
Products: we market vapor pens and accessories, topical
ointments, cannabis oils and tinctures all under these same names.
Our goal here is to become an environmentally responsible firm,
marketing our products to our audience to produce significant
revenue and add value for our shareholders. We have very ambitious
goals and objectives for USEI Cannabis and we believe that we will
have a very long presence in Washington, Oregon, California and
wherever cannabis is legal. Our objective is to create a foundation
that will be instrumental in our continued efforts to capture our
market-share and create viable products that meet our goals and
objectives for these markets. For more information regarding our
strategies it can be found on the company's website @ www.useicannabis.com/web/.
DISCLOSURES: "Safe Harbor" This press
release contains forward-looking statements including statements
regarding the timing of the revenue from the partnership and the
partnership's success. The words "believe," "may," "estimate,"
"continue," "anticipate," "intend," "should," "plan," "could,"
"target," "potential," "is likely," "will," "expect" and similar
expressions, as they relate to us, are intended to identify
forward-looking statements. We have based these forward-looking
statements largely on our current expectations and projections
about future events and financial trends that we believe may affect
our financial condition, results of operations, business strategy
and financial needs. Important factors that could cause actual
results to differ from those in the forward-looking statements
include consumer reaction to our Cannabis products and new
regulations which affect the distribution of these products.
Further information on our risk factors is contained in our filings
with the OTC Markets. Any forward-looking statement made by us
herein speaks only as of the date on which it is made. Factors or
events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of
them. We undertake no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by
law.
