Worldwide Signs Letter of Intent With Elevated Acres
May 06 2014 - 1:45PM
Marketwired
Worldwide Signs Letter of Intent With Elevated Acres
Company Completes Land Acquisition
NEW YORK, NY--(Marketwired - May 6, 2014) - Worldwide Internet,
Inc. (OTC Pink: WNTR) (PINKSHEETS: WNTR) ("Worldwide") announced
today that it has signed a Letter of Intent with Elevated Acres
LLC, based in Colorado, as a potential partner in The Green Fund
(www.thegreenfund.us).
The letter of intent will provide for financing for Elevated
Acres of at least one million dollars subject to the terms and
conditions of additional agreements, with due diligence to be
completed on or before May 31, 2014. The agreements would be
subject to a legal opinion that the transactions comply with
federal laws and the laws of the State of Colorado.
The land will have greenhouses that will be constructed with
steel frames and a polycarbonate covering. These state of the art
houses will be fully climate controlled, making it possible to
operate year round. They will have separate areas to allow for
different growing methods as well as supporting all phases of plant
growth. The facilities will provide significant advantages to keep
production costs low while still being able to reach the highest
quality.
The project partners have completed the acquisition of 37 acres
in the State of Colorado that will be leased for growing and
production of the plants. The company is currently working with the
local planning and zoning committees to get approval for the
intended use of property. They are also having projected water
usage totals calculated for the process of getting a commercial
well approved. The company is working with engineering companies to
design and construct the driveway and highway access to the
property.
Derek Smith, Principal of Elevated Acres LLC, stated that: "I am
excited to break ground on the property and move this project
along."
About Elevated Acres, LLC Elevated Acres is a collective of
master gardeners and business-minded individuals targeting to be
the premier legal cultivator of wholesale marijuana in the state of
Colorado. The members of this collective see a huge business
opportunity in this booming industry and want to use the power of
the sun and green houses to produce product year -- round for
marijuana dispensaries in the state.
About The Green Fund The Green Fund (www.thegreenfund.us) is a
comprehensive group of qualified Small Cap Public Companies in the
Emerging Hemp and Medical Marijuana Sectors that strives to bring
up to date Actionable Investment Intelligence on the pulse of these
rapidly growing industries.
FORWARD-LOOKING STATEMENTS:
This press release may contain "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Statements other than statements of historical facts
included in this press release may constitute forward-looking
statements and are not guarantees of future performance or results
and involve a number of risks and uncertainties. Actual results may
differ materially from those expressed or implied in the
forward-looking statements as a result of a number of factors,
including those described from time to time in filings with the OTC
Markets and. undertakes no duty to update any forward-looking
statement made herein. All forward-looking statements speak only as
of the date of this press release.
Contact: Frank Kristan frankkristan@worldwideinternetinc.com
Phone/Fax: (206) 984-3470