SAN FRANCISCO, CA, Aug. 01, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”), a holding company currently focused on opportunities in the cannabis space that owns and operates a number of subsidiaries, all with multiple revenue streams, diversified in cannabis processing products, commercial broadcasting and support services to AT&T’s DirecTV products. Today the company announces that it has received another purchase order from United Opportunities LLC on July 31, 2019 for 4 hybrid Cold-Water/Alcohol CBD Extraction Systems in value of $16,945,668.
Richard Hylen, Chairman and CEO, stated, “We have been working closely with our manufacturing partners in designing a CBD and HEMP extraction system that captures more than 90% CBD product from the cannabis bio-mass using a combined method of Cold-Water Extraction and Alcohol Extraction. The cannabis growers and processors have been waiting a long time for a product that can extract the high-grade CBD first, and then extract the lower-grade CBD in one process using one system without discarding product as waste. Proscere Bioscience offers its new Cold-Water/Alcohol CBD Extractor for a price of $4,236,417. Our distributor purchased 4 systems, and we now have awakened the cannabis market worldwide.”
Mr. Hylen further stated, “Mr. Michael Mulder, President of Brand House Ventures, Inc., had a tour of our manufacturing facilities in Grass Valley this week to better understand the hybrid system for his customers. He toured our manufacturing and assembly facilities as well as enjoyed seeing how the hybrid extraction system performs. Our distributors and strategic partners are part of a vast cannabis network of cannabis growers throughout the world seeking technology like ours in order to process cannabis faster and more efficiently.”
About SIML: 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 with sales over $20M during the first half of 2019.
Satel Group is one of only a handful of companies holding AT&T contracts to service multi-dwelling units throughout large metropolitan areas in the USA with DirecTV services; Satel services the financial commercial and residential areas San Francisco Bay and Silicon Valley.
Simlatus is our manufacturing company which produces high-end audio/video products for DirecTV, CBS, Fox News, Warner Bros., and various underwater oil exploration companies worldwide.
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.