USEI Cannabis Provides a Company Update and Status of Colorado Cannabis Operations
April 11 2014 - 08:49AM
Marketwired
USEI Cannabis Provides a Company Update and Status of Colorado
Cannabis Operations
SANTA CLARITA, CA--(Marketwired - Apr 11, 2014) - USEI Cannabis
Initiatives Corp, a wholly owned subsidiary of U.S. Energy
Initiatives Corporation, Inc. (OTC Pink: USEI) (PINKSHEETS: USEI)
is pleased today to provide an update to investors about the
company's operations in Colorado.
According to Anthony Miller CEO "Today represents our third trip
to Colorado in 2014 and over 30 meetings in the state year to date.
This year we announced our intent to enter the cannabis industry in
the state of Colorado. Our initial intent was to establish a
pathway to grow hemp in the state, especially after the 2014 Farm
Bill, passed this year, provided an avenue for growing hemp in the
US. After a number of meetings with regulatory folks from the state
and federal agencies, we discovered that while growing hemp was
legal... getting the seeds into the US was not possible. Our goal
was to grow hemp to make biodiesel and market other hemp or
cannabis related products. The real opportunity for hemp will
probably happen in 2015.
Since hemp was not an option for USEI in 2014; we decided to
turn to all possible cannabis opportunities and to establish a
permanent presence in the state which provides us with many other
options for future growing and product opportunities. Our focus
next turned to the legal marketing of all cannabis products which
includes the edible side of the industry and the growing side of
the industry.
To become successful product developers, we turned to experts in
the industry and one of those folks is a Washington base edible
producer who has over 40 products in the market; and other
producers are personal friends of management who sell over 30
edible products in California. As a result of these relationships
we were able to obtain over 25 products that we intend to introduce
into the Colorado marketplace. We did sign an agreement with our
Washington state producer and he will be working together in
Colorado in the next 2 or 3 weeks to begin producing some of the
products that he will help market with USEI. We
unfortunately cannot disclose his name because we have a
non-disclosure agreement in place; since Washington will not be
legal till this summer.
We have made tremendous progress over the last 45 days and below
in a list of the things we have done and the status of those
activities.
Facility to
Produce: We currently have a location in Denver and one in
Boulder, finalizing the location in the next 2 weeks.
Sales and
Marketing: We have engaged a sales group that has ties to
over 100 dispensaries. They are confident that they can market our
products.
Products: We
intend to produce cookies, candies, waxes, oils, butter, cakes,
cereal bars, brownies, cup cakes, chocolate, lotions, topical for
pain management, bath salts, beverages and a host of products that
are currently unavailable in Colorado.
Cannabis Oil Extraction
Machine: This week USEI traveled to Englewood Colorado to
visit ETS (ExtractionTek Sales) and as a result we are set to
purchase a state of the art, closed loop, solvent based extraction
machine and along with additional certified equipment which is
critical in meeting new regulatory standards set to take effect
July 1, 2014. Combining this asset along side of our expertise
will establish USEI as an awesome infused products manufacturing
company. This attribute creates a solid foundation for continued
product expansion and operational growth. Delivery of this device
will be in the next 45-60 days.
Colorado
Corporation: We formed USEI Cannabis Colorado, Inc this
month in Colorado: We will have a Colorado office by month's end.
Our presence after 2 years provides us with the ability to do the
business without partnerships, co-producers and/ or operational
agreements.
Trade-Marks: We
have filed for our Real McCoy Genuine Products trademark and this
is the name that will be affixed to our products in the state.
***Long Term Product
Development and Presence: We met this week and came to a
tentative operational consulting and financing agreement with
experienced medical marijuana infused products manufacturer based
in Denver, Colorado. The agreement, expected to be finalized
in upcoming weeks, provides working capital and consulting services
to create and promote the 'Real McCoy' brand. Building on the
expertise and product development of an established manufacturing
partner, USEI is poised to take advantage of the growing cannabis
industry.
Growing: We are
actively working on a grow plan that will include the growing of
many cannabis strain with an emphasis on the CBD strains (we have
significant and very experienced contacts). Scientific research has
shown that CBD may be therapeutic for many conditions, including
(but not limited to) chronic pain, cancer, anxiety, diabetes,
epilepsy, rheumatoid arthritis, PTSD, sleep disorders, alcoholism,
cardiovascular disease, antibiotic-resistant infections, and
various neurological ailments. This product is available on a
limited basis in the US... we intend to expand its usage.
As you can see we have made great strides towards accomplishing
our goals and objectives and we will continue to press forward till
we create a positive revenue model that can be replicated
elsewhere. Once we get entrenched here, we will target Washington,
Arizona and Nevada and other states where it is predicted that
cannabis products will become legal soon. We are on the front side
of an emerging industry; all projections are predicting that there
are prodigious opportunities that lie in the foreground. Our
objective is to create a foundation here that will be instrumental
in our continued conquest to capture our market-share and create
viable products that meet our goals and objectives for this
venture. For more information regarding our strategies it can be
found on the company's website @ www.useicannabis.com/web/,"
further commented Miller.
About U.S. Energy Initiatives: U.S. Energy Initiatives
Corporation is a diverse (OTC Pink: USEI) (PINKSHEETS: USEI) energy
firm. This firm started in 1996 and has had a long successful
business history of developing its business strategies.
Management's new goal is to develop its old and new technologies
and to build a dynamic and diverse firm. From 2014-2015 U.S. Energy
Initiatives will center on hemp to energy, everything cannabis
related and developing products and services for the marketplace.
Our goal here is to become an environmentally responsible firm,
marketing our products to a worldwide audience to produce
significant revenue and add value for our shareholders.
DISCLOSURES: "Safe Harbor" statement under the Private
Securities Litigation Reform Act of 1995: This press release may
contains forward-looking statements that are subject to risk and
uncertainties, including, but not limited to, the impact of
competitive products, product demand, market acceptance risks,
fluctuations in operating results, political risk and other risks
detailed from time to time in the Company's filings with
OTCMarkets.com and as required to the Securities and Exchange
Commission. These risks could cause USEI's actual results to differ
materially from those expressed in any forward-looking statements
made by, or on behalf of, the Company.
Contact: U.S. Energy Initiatives Corporation, Inc. Investor
Relations Ph: 866 922-1116 Email:
info@usenergyinit.com Web: www.usenergyinit.com Web:
www.useicannabis.com
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