Tampa, FL, March 04, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Enviro-Serv Inc. (USOTC: EVSV) (“EVSV”) is extremely excited to announce the company has engaged in a direct financial investment into a premier hemp processing facility based in Plymouth Wisconsin and has partnered to commence distillate oil production from Beaver Dam hemp farming operation biomass.
Chris Trina, Chairman and CEO of Enviro-Serv, has these comments to the Investment community regarding this exciting news development, “In our efforts to become vertically integrated we have created a new investment series E preferred stock for the purpose of raising capital to invest in a large capacity “state of the art” processing plant. Mason Jar Organics LLC, a Wisconsin based company, is located in Plymouth Wisconsin about 55 miles east from our operation in Beaver Dam. In conjunction with Jim Reitzner, our largest % stakeholder, EVSV has recently invested $100,000 directly into Mason Jar Organics. This investment strategy which was guided and funded by Jim Reitzner himself allows Enviro-Serv to realize our internal goals of vertical integration within the hemp industry space. The ever changing dynamics of the industry will offer further opportunities to expand our vertical integration plans in the areas of farming, processing and the sale of biomass and distillate oil. We believe the Mason Jar business plan will allow us to align with highly successful outcome. Our internal goals are to raise additional capital to support not only this opportunity but others in the pipeline.”
Trina had this comment regarding the harvested hemp inventory, “As we have publicly announced we have been storing our 6700 lbs. of high quality hemp in a secured controlled temperature environment waiting for the pricing and properly aligned processing partnership to commence oil production. As of last week we have shipped 1700 lbs. to the Mason Jar facility to commence distillate oil production. We estimate that by the end of March this first “test” batch will be ready for sale in the marketplace and we are excited to go to the marketplace to begin monetizing our efforts.”
Jim Reitzner had this to say, “We are pleased to be part of Enviro-Serv’s move to vertically integrate in the cannabis space by taking an ownership position in a hemp processor. By investing in Mason Jar, EVSV insures its position as a “field to yield” provider of CBD products and positions EVSV for huge growth and profits in the booming cannabis industry. Mr. Trina and I have entered into preliminary discussions with investment bankers to help pursue our vertical integration strategy.”
Todd Gruen, a managing partner of Mason Jar, states, “We are excited that Enviro-Serv has teamed with us to initiate their vertical integration plans and chose us as their premier processing partner.”
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Disclaimer/Safe Harbor:
This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies' contracts, the companies' liquidity position, the companies' ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur.