BATON ROUGE, LA, Feb. 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Rogue Station Companies, Inc. (OTC Pink: RGST) has completed its acquisition of 100% of Brahman LLC, d/b/a Terpp Extractors, a Fort Collins, Colorado-based manufacturer of cannabis processing equipment in a stock transaction. RGST issued 3,000,000 shares of common stock to the owners of Brahman and immediately assumed management and operations.
Terpp Extractors is a leading manufacturer of Closed Loop Systems used in hydrocarbon extraction of cannabis concentrates and also re-sells specific scientific equipment, including vacuum and transfer pumps, tubing, storage and evac tanks and other devices necessary for "turn-key" cannabis extraction systems. The Company markets Certified systems in compliance states and offers its products in the US and internationally. Lori Hainkel, CEO of Terpp Extractors stated, "This is an exciting time for all of the employees at Terpp Extractors and we are proud to be part of the team at Rouge Station Companies, Inc. My son Austin, founded Terpp Extractors in 2013 and was a great admirer of, and mentored by Grey Wolf and others at Skunk Pharms Research, during the early development phase and evolution of our hydrocarbon extraction systems. Joining Rogue Station Companies will jump-start our next step forward."
John Conroy, CEO of Rogue Station Companies, Inc., commented, "We're building a catalog of known brands in the cannabis space and this acquisition is a perfect fit for us. Terpp Extractors' history and reputation will be part of the foundation we build on and the extraction equipment space is among the fastest growing sectors within the cannabis industry. By emphasizing acquisitions in manufacturing, support, infrastructure and other "don't touch the plant" fields, we expect our business to be scalable and national, regardless of delays in cannabis legalization efforts.
“Our first priority related to Terpp Extractors is to increase inventory and our marketing exposure of the great products they produce including the MK3 and MK4 Extractors. These extractors can be used by a variety of customers within the cannabis space, including Extraction and Processing labs, growers, pharmaceutical companies, dispensaries in both the cannabis and hemp markets. Our extractors offer customers extremely high yield and the highest quality output at an affordable price. As the Cannabis and Hemp markets continue to explode, the demand for these extractors will follow market demand."
Brahman will become a wholly-owned subsidiary of RGST and Terpp Extractors will be managed and operated from its existing facilities. RGST will also arrange for an audit of Brahman while completing its own audit, so the integrated company can move toward becoming an SEC- reporting entity.
Robert Keeler, the Company's COO commented, "I am truly excited about the completed acquisition and anxious to bring my seven plus years of operational experience in the cannabis industry to Terpp Extractors to help Lori and her team take the Company to the next level."
Update as of February 3, 2020:
RGST has delivered the stock to the Sellers of Terpp Extractors, which represents the final step to close the transaction. The respective change in ownership notices have been filed with the Secretary of State of Colorado and all respective licensing agencies, including the Colorado Department of Revenue.
The Company's auditors, Hall & Company, have been informed of the acquisition and are preparing a document list to begin their engagement. The audit of RGST for the years 2017 and 2018 is completed but will not be filed until we have completed 2019 and a two-year audit of Terpp Extractors. Subsequently, Management will file all information with the SEC. Upon approval, RGST will be a fully reporting entity.
Management is evaluating inventory needs for Terpp Extractors and has confirmed the recent outbreak of the Coronavirus in China should not impact the delivery of items coming from the region.
Lastly, Management is developing an aggressive sales and marketing plan focused on increasing sales and name recognition. Initially, the plan will target local and statewide customers but will expand nationally during the later part of the year.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
CONTACT: Contact: John Conroy, CEO Corporate Services Rogue Station Companies, Inc 225-273-1100