Tulsa, OK, April 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Limitless Ventures Group, Inc. (OTC PINK: LVGI), through its wholly-owned subsidiary, Summit Harbor Holdings, Inc. (SHHI), has finalized all requirements for the acquisition of major majority ownership in Vertical Farm Mechanics.
Vertical Farm Mechanics is an innovator of new agricultural technologies and is revolutionizing the future of farming through vertical growing and lighting systems. These patent-pending products are currently available for purchase at https://verticalfarmmechanics.com. Summit Harbor Holdings will be enhancing the go-to-market strategy for national distribution and implementing a significant operational expansion to meet product demand.
“The acquisition of Vertical Farm Mechanics marks the closing of the second of our three initial memorandums of understanding and we are working diligently with New Horizon Farms’ attorneys to finalize the third agreement,” stated Limitless Venture Group CEO Joseph Francella.
“Adding Vertical Farm Mechanics to Summit Harbor Holdings’ group of integrated companies allows SHHI and LVGI the opportunity to make a considerable social impact in addition to providing superior shareholder value,” Francella continued.
“With the Vertical Farm Mechanics system, you can grow anything you can imagine – from fruits and vegetables to industrial hemp – in both indoor and outdoor environments which allows for year-round harvests,” said Summit Harbor Holdings Vice President and COO, Matthew Habuda.
“Summit Harbor Holdings recognizes the value that Vertical Farm Mechanics can bring to urban food deserts and areas of food shortage around the world,” Habuda continued. “SHHI is developing a program that will allow for a donation of Vertical Farm products, based on the number of units sold, to nonprofits and international programs addressing hunger issues.”
To further its social mission, Vertical Farm Mechanics intends to employ people with disabilities and individuals participating in second-chance programs to provide manufacturing and assembly services.
Summit Harbor Holdings also has secured a memorandum of understanding with Ceramic Cement Corporation (C3) for a joint venture discovery to develop new and innovative hemp-based building supplies and other hemp based building products. This joint venture would leverage the experience, patents and technology of C3 to create long-term, sustainable products.
C3 is known for its eco-safe, high-strength, superior quality ceramic cement products and has a strong domestic and international presence.
After many years of research, government testing and the creation of a massive global patent portfolio, C3 is projecting 2020 revenues to exceed $10,000,000. Visit www.ceramiccement.com for more information.
“C3 has an aggressive expansion model and is in discussion with many concrete product developers about the opportunity to create hempcrete-based building products,” said Summit Harbor Holdings President Devon Diaz. “Working with SHHI in the emerging industrial hemp industry will help them reach this new and rapidly expanding market.”
Summit Harbor Holdings’ mission is to establish, acquire, fund and optimize early to mid-stage companies for the purpose of developing infrastructure and stability for subsidiary companies and for generating long-term shareholder returns.
This mission is currently fulfilled through two verticals.
1. Vertical One: Industry infrastructure and support companies, such as:
- Emergent Design-Build Solutions (acquisition finalized)
- Vertical Farm Mechanics (acquisition finalized)
2. Vertical Two: Companies highly specialized in the industrial hemp industry, such as:
- New Horizon Farms (memorandum of understanding)
- Ceramic Cement Corporation (memorandum of understanding)
Additional information can be found at www.summitharbor.com.
Limitless Venture Group Inc., has identified the tremendous future in the emerging markets created through the recent passage of the Federal Farm Bill which legalized hemp nationally and has focused its attention within this innovative science sector. Website: www.lvginc.com
Forward-Looking Statements: This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.
For more information, contact Elizabeth King at Elizabeth@ElizabethKingConsulting.com.