DENVER, CO, United States, via ETELIGIS INC., 11/12/2014 - - Latteno Food Corp. (OTC Pink: LATF) (PINKSHEETS: LATF), is pleased to announce its initiatives that will capitalize on the emerging medicinal and recreational cannabis market that is reported to see exponential growth over the next number of years. These growth projections firmly validate the Companys previously announced growth initiatives, as well as provide excellent growth opportunities for all its MMJ revenue streams
According to ArcView Group, the legal U.S. cannabis industry was $1.5 billion in 2013 and is forecast to reach $2.6 billion by the end of 2014 and $10.2 billion by 2018. In the two states that approved marijuana for recreational use, Colorado's and Washington's 2014 market is projected to be $800 million and $300 million, respectively.
There are currently 23 states and the District of Columbia that have legalized marijuana for medicinal applications. Among these, Colorado and Washington have legalized it for recreational use. With three recent major victories, Latteno is pleased the following states have voted to approve recreational use:
Washington D.C. Voters overwhelmingly approved Measure 71 by a vote of 69.4 percent yes to 30.6 percent no; the highest margin for any marijuana legalization ballot measure ever.
Oregon Measure 91 currently stands at 54.7 percent yes to 45.3 percent no. A massive swing from just two years ago when a poorly crafted legalization initiative failed 46.6-53.4.
Alaska With most of the vote counted, Measure 2 has 52.1 percent yes to 47.9 percent no. This is the first victory for marijuana legalization in a Republican state.
For the near term, Latteno will continue expanding its edible products line as well as seeking to become a license and/or acquire stakes in businesses that focus on edibles and other healthcare/wellness products to supplement our top selling LT-512 sex enhancement pills. Recently, Latteno introduced five new edible products to our CannaBeeSweets line and lined up potential MMJ candidates for immediate term acquisitions.
Additionally, Latteno plans to establish local sales/marketing offices in recently-approved recreational states of Alaska, Oregon and Washington DC; and forge alliances/partnerships or acquire local dispensaries in all 4 recreational states to market its own CannaBeeSweets line along with future edible products.
In order to further explore and source new products and establish valuable industry contacts, Latteno has sent representatives to 3rd Annual Marijuana Business Conference & Expo in Las Vegas this week. Produced by Marijuana Business Daily, the industrys most trusted professional news source, the conference will host 2,000 industry pros and major investors from more than 30 US states and 10 countries.
The Company looks forward to continued growth in the expanding legal cannabis market.
About Latteno Food Corp. (www.Latteno.com):
Latteno Food Corp. is an investment portfolio company that acquires food products, medical marijuana edibles and related products/services to with the aim to enhance company growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements.
About Rx Harvest Collective Inc. (www.RxHC.org):
Southern California-owned and licensed medical marijuana co-op and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).
About Mekonza Corp. (www.Mekonza-corp.com):
Headquartered in Southern California since 2006, the founders started out as a luxury/exotic car exporter and eventually branched out into seafood importing which came about Mekonza Seafood. The variety of seafood products we offer has allowed us to be an innovator in product development. The diversity of our products allows us to be the next force-to-be-reckoned with in the seafood industry. Mekonza has grown from a small one-man operation to one of the West Coast's most innovative and well-equipped seafood importing and processing companies. With outstanding customer service as our secret sauce and key ingredient, we're on our way to be the industry's leader committed to achieve the highest possible standards in quality, service to our clients, suppliers and investors.
Safe Harbor Statement:
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
Latteno Food Corp.
SOURCE: Latteno Food Corp.
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