NEW YORK and DENVER, June 5,
2014 /PRNewswire/ -- DC Brands International, Inc.
(OTCQB: HRDN) ("DC Brands" or the "Company") is very excited to
announce that it has signed a management services contract with
Venture Investment Partners, LLC ("Ven"), a Colorado based company that is targeting the
Colorado marijuana industry.
Ven is joining partnerships that currently hold two marijuana grow
licenses, one marijuana laboratory license and most importantly,
one aged medical marijuana license. These licenses allow them to
apply for a recreational sales license in the very near
future. DC Brands Green Investors, an 80% owned subsidiary of
DC Brands, has been contracted by Ven to provide accounting,
payroll, cash management and security services for all of its
operations. Green has also committed to provide up to $500,000 of funding to Ven over the next six
months.
The contract with Ven will vary over time based upon the amount
of services and financing provided and will be analyzed and
adjusted at least once a quarter. The initial contract is
projected to net DC Brands Green Investors approximately 5% of the
EBITA of all of Ven's operations. Our internal financial
projections for these projects estimate that the revenue to DC
Brands Green in the first three years could fall between
$1.5 million and $2.75 million. The
Company is looking to replicate this arrangement with multiple
groups similarly situated in the industry.
Bob Armstrong, DC Brands' CEO and
CFO stated, "We are very excited about this deal - not just because
it is our first but because we took our time and found what I
believe to be one of the strongest up and coming management teams
in the Colorado marijuana
industry, one with extensive business management, construction,
engineering and multifaceted growing experience."
About DC Brands International, Inc.
DC Brands
International, a publicly traded company under the ticker symbol
(HRDN). On April 4, 2014, the Company
announced that it intended to become a service provider to fully
licensed Colorado medical and
recreational marijuana businesses.
Forward-Looking Statements
This press release may
contain forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. The Company intends for the forward-looking
statements to be covered by the safe harbor provisions for
forward-looking statements. Words such as "anticipates," "expects,"
"intends," "plans," "believes," "seeks," "estimates," or variations
of such words are intended to identify such forward-looking
statements. The forward-looking statements are based on current
expectations, estimates and projections made by management and
include statements regarding the Company's new corporate focus and
future plans, contract with Ven and the estimated revenue to be
received by DC Brands Green. All forward-looking statements in this
press release are made as of the date of this press release, and
the Company assumes no obligation to update these forward-looking
statements other than as required by law. The forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those set forth or implied
by any forward-looking statements, such as our ability to implement
successfully our new corporate plan, attract clients and necessary
capital, the ability of Ven to successfully enter the market and
the continued rapid growth of the local Colorado marijuana industry, that our
financial projections are materially different from actual results,
and the risk factors discussed in the Business and Management's
Discussion and Analysis sections in our Quarterly Reports on Form
10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K.
Copies of these filings are available
at www.sec.gov
SOURCE DC Brands International, Inc.