SUNRISE, Fla., July 01, 2019 (GLOBE NEWSWIRE) -- Profile Solutions, Inc. (OTC Grey: PSIQ) is pleased to announce an extension of the letter of intent to acquire 80% of Ecoland K.K.L. LTD and Ecoland USA SF INC consisting of cannabis licenses, operations and real estate in Northern California (“Ecoland”) until August 15th, 2019 unless mutually extended in writing by the parties. The closing is contingent upon (1) PSIQ providing Financing of $ 5,000,000 payable $2,500,000 at closing and $ 2,500,000 within 6 months of closing (2) due-diligence review and (3) execution of definitive and related agreements.
ABOUT PROFILE SOLUTIONS, INC. (“PSIQ”)
Profile Solutions, Inc., has two operating subsidiaries:
- Elite Products International, Inc. is a leading distributor and manufacturer in the cannabinoid (CBD) industry. The Company’s products contain cutting-edge CBD industrial hemp extracts in the form of edibles, topicals and cosmetics (www.elitehempproducts.com).
- CannBerry Tek, Inc. is a Hi-tech innovative Biotechnology Company which manages various Research & Development (“R&D”) activities with the major focus on the Medical Cannabis industry (www.cannberrytek.com).
Financial information can be found at https://www.otcmarkets.com/stock/PSIQ/profile. The company website can be found at www.profilesolutionsinc.com; www.elitehempproducts.com, Facebook at www.facebook.com/eliteproductsintl/, Instagram www.instagram.com/elite_hemp/, LinkedIn at www.linkedin.com/in/elite-hemp-products-3a863914a/, Twitter at https://twitter.com/incprofile and Blog: https://www.elitehempproducts.com/blog.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results or implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For information, please contact:
Dan Oran, President
Profile Solutions, Inc.
8411 West Oakland Park Blvd.
Suite 201
Sunrise, FL 33351
Dan@profilesolutionsinc.com
(844) 856-8838