CANNABIS KINETICS CORP
WESTMINSTER, CO--(Marketwired - Sep 30, 2014) - Cannabis Kinetics Corp. (
Eric Hagen, CEO of Cannabis Kinetics stated, "Our recently signed exclusive global distribution agreement with an established U.S. importer of Coco Coir has positioned us to immediately move forward with our plans to distribute this incredibly effective and versatile growing medium, not only to the booming marijuana sector in Colorado, but across the entire country into other states regardless of their marijuana legal status. We anticipate marketing, selling, and stocking shelves with our Monarch brand of Coco Coir in less than three weeks."
Coco Coir is an all-natural growing medium made from ground coconut husks popular among commercial and home marijuana growers and other indoor and outdoor gardening operations. Used as a stand-alone growing medium or mixed with soil, Coco Coir significantly reduces watering requirements for growing most plants, including marijuana. Coco Coir is commonly used as a substitute for sphagnum moss because it is free of bacteria and fungal spores. Coco Coir is also used as a substrate to grow mushrooms and as a terrarium substrate for reptiles or arachnids
Hagen concluded, "Based on our evaluation of the current market for Coco Coir, we estimate that sales of our Monarch branded Coco Coir could reach $1.0 - $2.0 million in Colorado during the first year and potentially reach $5.0 - $8.0 million nationwide. We look forward to seeing Monarch Coco Coir on store shelves very soon and expanding our current facility to meet anticipated demand over the next 120 days."
Cannabis Kinetics acquires the highest quality Coco Coir from India and Sri Lanka through an exclusive distribution agreement with Ivory Coco International, an established importer based in Aurora, Colorado.
About Cannabis Kinetics Corp. (CANK)
Cannabis Kinetics is a fully integrated cannabis management company with an office location in the Westminster suburb of Denver, Colorado. Founded and managed by experienced marijuana industry professionals, the Company has targeted various opportunities in the Colorado marijuana marketplace with a focus on the management of recreational and medical marijuana retail dispensaries, the management of licensed marijuana cultivation facilities, production and distribution of hemp and marijuana infused food & beverage and ancillary products. Additionally, the Company will provide management of retail and wholesale operations for grow stores and intends to pursue additional business opportunities within manufacturing, equipment leasing, real estate, product licensing and distribution, and other strategic acquisitions. Cannabis Kinetics anticipates expanding this business model into other select marijuana friendly states.
Cannabis Kinetics files reports with the Securities & Exchange Commission on EDGAR and anticipates continuing to file such reports. The Company's filings can be viewed at www.sec.gov, including the Company's most recent Form 8-K filing describing the Company's business operations.
Additional information regarding the Company can also be found on its website at www.CannabisKinetics.com.
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Cannabis Kinetics Corp.'s filings with the Securities & Exchange Commission. As a reporting issuer with the Securities & Exchange Commission, Cannabis Kinetics Corp. files Quarterly and Annual Reports and other documents on EDGAR. We strongly urge all persons to read our filings at www.sec.gov, which are publicly available, in conjunction with this press release as we are in a highly regulated industry that requires thorough research prior to making any decision regarding a company, particularly an investment decision. In addition, such statements could be affected by risks and uncertainties related to Cannabis Kinetics Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified management representatives, (iv) competition, pricing and development difficulties, (v) ability to fully implement our business plan as a result of being a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. Cannabis Kinetics Corp. does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Cannabis Kinetics' expectations and estimates. Information on Cannabis Kinetics Corp.'s website does not constitute a part of this release.
