Palm Coast, FL, June 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold River Productions Inc. (OTC Pink: GRPS) and RushNet, Inc. (OTC Pink: RSHN) jointly announce their venture with LeGanjaFairy, LLC, a Washington State limited liability company, and Marakata Inc., a California corporation, and the acquisition of each resulting income stream.
LeGanjaFairy, LLC, a licensed Washington State marijuana Producer / Processor established by Shane Archibald in 2015, seeks to expand existing operations with funding from Gold River. LeGanjaFairy is located in Spokane Valley, WA 99212, BLS Account ID: 603348456-001-0001, with licenses as both a Tier 3 Marijuana Producer and a Marijuana Processor. In business for more than four years, 2019 year-to-date revenue of over $215k, total revenue of nearly $1.5 million and an expanding customer base, it offers more than 70 unique strains of Cannabis ranging from strains used for pain relief, high CBD-content, to heirloom strains that have been cultivated since the 1970’s. Customers currently receive their product in the form of flower, extract and in a pre-rolled format. Shane brings over 20 years of traditional business and project management experience in the IT, Transportation, Aerospace and Construction industries as a consultant, trainer, author and speaker to the developing cannabis industry.
“In this industry, you have to be either really cheap or really good. We are shooting for the latter,” says Shane. Planned expansion includes, among other things, increasing the number of cultivation lights to over 1,600. “I’m excited to work with Gold River Productions and RushNet as we advance through this remarkable era of continuing deregulation, growing market acceptance and a growing awareness of the medicinal value of Cannabis, as confirmed by the medical team of Gold River productions and RushNet. Our significant experience and their vast network of complementary products and companies will be instrumental in our ability to accelerate expansion, streamline operations and to our joint capabilities to offer new and improved products, bringing top-shelf enjoyment to our customers across the state and eventually the country.”
Chief Medical Officer Richard Goulding is quoted as saying, “We are anxious to further test many of the very promising strains developed by LeGanjaFairy.”
Joshua Spooner, president of New Earth Development Corporation, a subsidiary of Gold River, is quoted as saying, “Shane’s contacts in the aerospace industry should prove invaluable to the graphene sales. With its extreme strength (stronger than diamonds and a thin layer can stop a bullet), light weight (it floats on water), will make it indispensable in this industry. Our consultants and I estimate that fuel costs could be reduced by more than 50%. And it’s superconductive. New Earth currently has a substantial amount of graphene available for sales or for projects. We also feel that Shane’s growing operation may be well suited for the growing of hemp to be processed into graphene.”
Marakata was formed by California entrepreneur David Hartley, Alex Archie and others to acquire cannabis (including hemp) related cultivation and retail facilities in California. The facilities are fully permitted or are in late stages of the application procedure. Marakata has acquired facilities for CBD and THC cultivation, manufacturing, distribution and retail.
In each case, revenues were acquired by Gold River, subject to operating expenses and distributions to the company (Marakata in the one case and Le Ganja Fairy in the other case), leaving, as net income to Gold River and to RushNet, 35% of the net, of which 80% will go to Gold River and 20% to RushNet. Those net distributions to Gold River Productions and to RushNet are scheduled to commence later this year, upon the securing of financing pursuant to a Tier 2, Form 1-A filing with the SEC. This filing, in the case of each of Gold River and RushNet shall accompany PCAOB audited financial statements.
Gold River adds four additional trademarks for its future nutraceutical/CBD line. While the formulations have been completed and will remain proprietary, the names are carefully constructed to reflect usage. Our line will be financed with the Tier 2 Regulation A offering slated who to be filed within the next 30 days. The trademarked names include Inflammaplex™, Energyplex™, Painplex™ and Insominoplex™ enhancing the nutraceutical line, with 15 more to be added as the product lines are perfected.
RushNet has reinstated Knockout Punch™ in anticipation of FDA approval of CBD in food additives and looks forward to a robust expansion when the FDA makes clear its approach to CBD combined with foods and beverages. “These unique high-quality complex CBD-herbal formulations have been crafted after many years of clinical work with specific herbal blends in private practice. We are excited to possess this level of proprietary ownership and look forward to the creation of these amazing products,” says Chief Products Development Officer, Dr. Bruce Bond. “The unique combination of herbs in specific ratios and exact percentages, meticulously crafted for consistency, homogeneity, along with due diligence to quality assurance are key to their efficacy,” says Dr. Bond. These products are to be evaluated at a number of dependency treatment centers in California, within the next few months.
In response to the ever-changing political and regulatory landscape of the cannabis industry, XYZ Hemp Inc. has chosen to revert back to its previous name of Gold River Productions, Inc. The ticker symbol GRPS will remain the same.
Grant Initiatives:
Our lobbyists are working hard on our numerous grant initiatives and are expecting a decision on most if not all of the grants by the end of summer. The lobbyists are very optimistic about financing for each of our initiatives.
Joliet, Illinois: GreatRateFreight delivers: GreatRateFreight, a subsidiary of RushNet, is completing its logistics-based website and will launch its membership drive working with WGN’s Dane Neal at Camping World’s NASCAR weekend, delivering celebrities and drivers to large tent events. As a major sponsor, WGN’s Dane Neil will be promoting GreatRateFreight and the Freedom Coalition at this huge event, on social media, on site and other activities to be announced.
New Earth Development Corporation, a subsidiary of Gold River, is progressing on its massive hemp growing pursuit for processing into graphene, on a commercial basis. Joshua Spooner, president of New Earth Development Corporation, is quoted as saying, “We anticipate announcing our new joint ventures and providing an update as to the recent developments.”
The New Earth Development Corporation is in the process of supplementing its $400,000,000 grant initiative from the EPA. This will be modified to include funding for its other strategic partners whose business operations are substantially enhanced with the use of graphene, to be furnished by New Earth.
Freedom Fleet Initiative seeks $50,000,000 from the Department of Homeland Security.
GreatRateFreight Inc. also seeks $10,000,000 from the Federal Highway Association and Truckers Coalition of North America, a subsidiary of GreatRateFreight, seeks $10,000,000 from the Federal Highway Association. We are actively pursuing those initiatives. Chuck Balandrin is quoted as saying, “We remain optimistic on each of these grant initiatives and are further encouraged by our lobbyists’ efforts and feedback. We hope to report to the market soon, as these initiatives and as I our discussions with such governmental agencies progress.”
Rhamnolipid, Inc. seeks $48,000,000 from the Department of Agriculture, in order to purchase land, biosurfactant tanks, installation drones/robots, and software for automation of crop management. It also plans to replace standard grid electricity with more sustainable and environmentally friendly solar energy.
Gold River seeks $50,000,000 from the Health Resources and Services Administration’s development of a free educational platform to alleviate the shortage of physicians and eliminate medical student loan debt. Dr. Richard Goulding is quoted as saying “We have been assured that our grant initiatives are very competitive. While the government shutdown has created substantial delay, our lobbyists anticipate answers to all of our submissions will be rendered by early August, which is when the real work on many of these endeavors can finally commence in earnest.”
About RushNet, Inc.: RushNet, Inc. is an edibles and beverage based company with stand-alone products, including most enhanced with CBD. Currently, we have developed 14 Products that will take advantage of the natural and non-GMO grow, pristine mineral water enhancement and natural CBD.
About Gold River Production Services, Inc.: Gold River Productions is a top of the line medical CBD company. With innovative products targeting specific disease states using supplements, Gold River Productions, along with RushNet, is poised to take CBD to the next level. With two of its top officials being not only medical doctors, but well-versed in the field of cannabis, a team of scientists and technical experts have joined forces to utilize all that CBD and Hemp have to offer.
About the joint venture between Gold River Productions Inc. and RushNet, Inc.: This joint venture is a unique effort to secure all areas of cannabis production (including hemp) from cultivation and manufacturing to distribution and retail, with an emphasis on unique products and high-quality CBD. RushNet is more focused on product development, particularly edibles and beverages while Gold River Productions addresses the more scientific elements of these pursuits, using formulations found only in the formation of high-quality nutraceuticals. Together, they are able to facilitate the vertical integration envisioned. Both are acquiring and joint venturing with companies in all aspects of the cannabis field as they jointly pursue a fully integrated cannabis and hemp business model.
Safe Harbor Statement: This release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
CONTACT: RushNet, Inc.
support@rushnetinc.com
@RSHNOTC
www.RushNetInc.com
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@XYZHemp
(Soon to be www.GRPSinc.com)