Vapen MJ
Ventures Signs LOI for Cannabis THC Production/Extraction
Partnership in Las Vegas
Operation expected to go
into production in the Fall of 2019
VANCOUVER, Canada -- June 24, 2019 -- InvestorsHub NewsWire --
Vapen MJ Ventures (VAPN.CN) ("Vapen MJ") a fully
integrated agricultural technology, services and property
management company in the regulated cannabis industry, today
announced that the company has signed an Letter of Intent (LOI)
with Pegasus, to establish a partnership for Cannabis THC
production and extraction in Las Vegas, Nevada .
The partnership, which is expected to
be consummated in the next thirty (30) days and begin operation in
the Fall of 2019, calls for products to be sold at wholesale under
the Vapen Brand to Nevada Dispensaries. Expected products
include:
- Vapen THC Cartridges
- Vapen Extracts (Connoisseur
Concentrates)
- Vapen Kitchens Edibles – Snacks, candies,
gummies, chocolate bars
"The proposed partnership is a new and significant
geographic market for the Vapen MJ Brand," commented Thai Nguyen ,
founder and chief executive officer of Vapen MJ Ventures.
"Cannabis, in Nevada , became legal for recreational use, effective
January 1, 2017 , following a successful ballot initiative in 2016.
We are excited to introduce our Vapen Brand to Las Vegas , as this
market continues to grow. Pegasus operates a successful cultivation
center, distributing its "Virtue" Brand, a complimentary,
high-quality, connoisseur brand, like the Vapen Brand, to
dispensaries in Las Vegas . The addition of the "Vapen" Brand to
existing Virtue products, will be a natural fit for Virtue's
established distribution channel and provide a full cannabis line
of products to the existing customer base."
Vapen MJ will provide management
services and standard operating procedures for production and
extraction, including the hiring and training of critical
employees. Vapen MJ will also be responsible for the bulk tolling
(extraction) for other brands. Pegasus and their partners are
supplying funding for the equipment, working capital and biomass to
the partnership.
About Vapen MJ Ventures
Vapen MJ, through its wholly-owned
subsidiaries, currently operates in the US as an agricultural
technology, services and property management company utilizing a
full vertical integration business model to oversee and execute all
aspects of cultivation, extraction, manufacturing (THC and CBD
cartridges, concentrates, edibles), retail dispensary, and
wholesale distribution of high margin Cannabis THC and Hemp CBD
products under the Vapen Brand. Vapen MJ expansion plans
include partnering with cannabis license holders and hemp farms in
multiple states within the US.
Forward Looking Statements
Statements in this news release that are forward-looking
statements are subject to various risks and uncertainties
concerning the specific factors disclosed here and elsewhere in
Vapen MJ' periodic filings with Canadian securities regulators.
When used in this news release, words such as "will, could, plan,
estimate, expect, intend, may, potential, believe, should," and
similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation,
statements related to future developments and the business and
operations of Vapen MJ.
Although Vapen MJ has attempted to
identify important factors that could cause actual results,
performance or achievements to differ materially from those
contained in the forward-looking statements, there can be other
factors that cause results, performance or achievements not to be
as anticipated, estimated or intended, including, but not limited
to: dependence on obtaining regulatory approvals; are engaged in
activities currently considered illegal under U.S. Federal laws;
change in laws; reliance on management; requirements for additional
financing; competition; hindering market growth and state adoption
due to inconsistent public opinion and perception of the
medical-use and adult-use marijuana industry and; regulatory or
political change.
There can be no assurance that such
information will prove to be accurate or that management's
expectations or estimates of future developments, circumstances or
results will materialize. Because of these risks and uncertainties,
the results or events predicted in these forward-looking statements
may differ materially from actual results or events.
Accordingly, readers should not place
undue reliance on forward-looking statements. The forward-looking
statements in this news release are made as of the date of this
release. Vapen MJ disclaims any intention or obligation to update
or revise such information, except as required by applicable law,
and Vapen MJ does not assume any liability for disclosure relating
to any other company mentioned herein.
SOURCE Vapen MJ Ventures Corporation
Vapen MJ Ventures (CSE:VAPN)
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