Clean Enviro Tech (OTCBB: CETC) Enters Into Letter of Intent to Acquire Red Apple Pharm Corp.
June 09 2014 - 8:15AM
Marketwired
Clean Enviro Tech (OTCBB: CETC) Enters Into Letter of Intent to
Acquire Red Apple Pharm Corp.
LAS VEGAS, NV--(Marketwired - Jun 9, 2014) - Clean Enviro Tech
(OTCBB: CETC), (OTCQB: CETC), (BERLIN: A1KB22), (ISIN:
US18452C1080), (SYMBOL: SO3A) (www.cleanenvirotech.com) executes
Letter of Intent to acquire Red Apple Pharm Corp.
On May 30, 2014, Clean Enviro Tech Corp. entered into a letter
of intent with Gordon F. Lee an officer, director and majority
shareholder of Red Apple Pharm Corp. (RAPCO) to acquire all of the
issued and outstanding common shares of RAPCO for 80,000,000 common
shares of Clean Enviro Tech Corp., subject to shareholders approval
and a due diligence period of 60 days with closing on or before
July 30, 2014. Also Subject to shareholder approval, the
company will file to increase the authorized to 110,000,000 shares
on or before closing.
About Red Apple Pharm Corp.: RAPCO currently operates an ISP for
cannabis news, law changes, both state and federal and television
productions through
www.RedAppleEmpire.info. www.RedAppleEmpire.info is a Cannabis
education and news service that explores the merits of the Cannabis
plant as a Medicine, Industrial Resource, Agricultural Crop and
more. Executive Producer - Gordon Lee is a Beverly Hills
entrepreneur who has long been involved with Cannabis
Activism.
Additionally, RAPCO provides support services relating to
banking, debit cards, Casualty Insurance and licensing requirements
of operating Colorado cannabis dispensaries. With the planned
use of the reloadable, pre-paid patient debit cards and medical
marijuana phone app removes the cash-on-hand security risk for
dispensaries and customers while giving regulators a new level of
system-wide transparency. The ability to track purchases and
audit prescribed quantities of product sold on a per-person basis,
all within a robust digital environment where patient records are
secure, is extremely appealing to regulators.
RAPCO provides a comprehensive set of solutions to the regulated
cannabis industry.
The company does not grow, harvest, distribute or sell cannabis
or any substances that violate United States Federal Law, or the
Controlled Substances Act., nor does it ever intend to neither now
nor in the future.
RAPCO does provide services in real estate, property leasing,
Corp Banking and debit cards along with casualty insurance products
and Cannabis business consulting, in the various jurisdictions
where it has been determined legal.
RAPCO works exclusively with licensed and regulated clients.
Medical marijuana is now legal in 20 states and the District of
Columbia with an additional 5 states that have decriminalized
possession. Of those states, Washington and Colorado have
legalized marijuana for recreational use. Colorado's first retail
marijuana stores opened Jan. 1 for sale to people 21 years and
older. States that have legalized use are: Alaska, Arizona,
California, Colorado, Connecticut, Delaware, Hawaii, Illinois,
Maine, Massachusetts, Michigan, Montana, Nevada, New
Jersey New Mexico, Oregon, Rhode Island, Vermont and
Washington; Washington D.C. legalized use in 2010. States that
have decriminalized Marijuana possession in small amounts are:
Ohio, North Carolina, New York and Maryland (Oct. 2014). Many
other states are in various stages of the process that may lead to
additions to the lists above.
In response to the rapid expansion of the many states acceptance
of Medical Marijuana, the US Federal Government recently announced
that no federal agency will intervene with any Medical Marijuana
operations within the states that have legalized Marijuana for
medical use. This is a departure from the past and suggests
that the US Government will accept the desires of the individual
states and their voters that approve such measures.
FOOD AND DRUG ADMINISTRATION (FDA) DISCLOSURE These statements
have not been evaluated by the FDA and are not intended to
diagnose, treat or cure any disease.
FORWARD-LOOKING DISCLAIMER This press release may contain
certain forward-looking statements and information, as defined
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934, and is subject
to the Safe Harbor created by those sections. This material
contains statements about expected future events and/or financial
results that are forward-looking in nature and subject to risks and
uncertainties. Such forward-looking statements by definition
involve risks, uncertainties and other factors, which may cause the
actual results, performance or achievements of Clean Enviro Tech
Corp. to be materially different from the statements made
herein.
LEGAL DISCLOSURE Clean Enviro Tech Corp. does not sell or
distribute any products that are in violation of the United States
Controlled Substances Act (US.CSA). The company does not grow, sell
and distribute hemp-based products but are involved with Federally
Legal Distribution of Medical Marijuana-based products within
certain domestic and international markets. Cannabidiol is a
natural constituent of hemp oil.
CONTACT: Clean Enviro Tech: www.cleanenvirotech.com
www.cleanenvirotech.de info@cleanenvirotech.com RAPCO. Gordon f Lee
CEO 1-702-756-6014 www.RedAppleEmpire.info