San Francisco, California, July 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”) is a holding company focused on opportunities in the cannabis space. The Company owns and operates a number of subsidiaries with multiple revenue streams. While acquisitions of companies in the hemp sector accelerate worldwide as industrial and consumer hemp/CBD markets develop, our Proscere Bioscience is the company’s division focused on the CBD industry. In addition, the company’s diversity includes other subsidiaries, such as Satel Group, a premier high-rise DirecTV provider for the financial commercial and residential metropolitan San Francisco Bay area, and Simlatus, a manufacturer of audio/video products that currently sells to DirecTV, CBS, Fox News and Warner Bros.
Richard Hylen, Chairman and CEO, stated, “Legal marijuana is worth an estimated $50 billion for the U.S. today, and experts have projected the U.S. industry to skyrocket to $80 billion by 2030. Simlatus has a firm standing in this industry with the manufacturing of its Cold-Water Extraction Systems required to fulfill the industry needs for THC, CBD and Hemp extraction. Cannabis legalization has swept across North America with 10 states plus Washington, D.C., that provide legalized recreational marijuana; and full legalization arrived in Canada in October 2018. Our subsidiary, Proscere Bioscience, is fulfilling its first order of $2.8M, and 5 year commitments from its global distribution of $275M. This is definitely a game changer for our company and our shareholders.”
Richard further stated, “Our audio/video division, Simlatus, has seen an increase in new revenues from major companies, such as Schilling Robotics, LLC, a division of TechnipFMC, who manufactures the world’s most advanced remotely operated vehicles (ROVs) and manipulator arms. Further, our San Francisco based Satel Group is reviewing a new contract with AT&T and DirecTV which allows for expansion throughout the Bay-Area to provide high-speed internet products to its existing and potential customers in commercial and residential buildings.”
The company continues to be technology and service driven in the growing industries of cannabis, audio/video and high-speed internet products; while its new management team uses its own cash reserves to drive down debt and dilution, and focus on moving the company to NASDAQ.
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.