Los Angeles, California, March 27, 2014 (GLOBE NEWSWIRE) -- Embarr Downs, Inc. (OTCQB: EMBR) announced today the Company is entering the agriculture farming and cannabis markets through its newly formed subsidiaries: Embarr Farms and Hemp Fish Water.
Embarr Farms was established to begin developing farms and aquaculture farms. The Company will initially build fish nurseries to raise Tilapia then expand to include yellow perch, largemouth bass, striped bass, red drum, blue gills, Australian red-claw crayfish, and fresh water lobster.
Hemp Fish Water will sell the waste water from the aquaculture ponds as organic and natural liquid fertilizer. The initial target market will be small medical marijuana farms and will be expanded to small and home based gardens. The liquid fertilizer contains mineralized fish waste to be used as an organic and natural liquid fertilizer. Liquid fertilizers are faster-acting than seed meals and other solid organic products and can be used to water the plants while providing the needed nutrients for growth.
The Company expects the initial nursery to be completed in the next 90 days. At that time, the company will begin delivering the liquid fertilizer to Hemp Fish Water to begin selling. The initial harvest of fish for sale is expected to occur approximately 6 months from the completion of the nursery.
The Company expects to spin both of these entities off by issuing as a dividend 20% of the company to Embarr Downs shareholders. The Company is currently in the process of completing a Form 10 for the Companies to be filed with the United State Securities and Exchange. After the Form 10 in effective an S-1 will be filed to spin off the 20% of the Companies to Embarr Downs shareholders and will begin trading under their own ticker symbols. The Companies will also have to achieve other milestones prior to being spun off such as obtaining $150,000 in revenue and being profitable or near profitable on a cash basis. The Company expects the spin off to occur in the next 12-18 months. Embarr Downs will still maintain 80% ownership of the Companies after the spin-off.
"These are projects I have been working on for the past 2 years," commented Joseph Wade, CEO of Embarr Downs. "With the world's ocean's fisheries being over exploited farmed fish is going to become a necessity over the next few years. With Embarr Downs currently looking to build a farm for its breeding division it seemed a natural fit to combine the two together. Additionally, it provides additional shareholder value. Additionally, we are discussing of creating an incubator subsidiary where new companies can be acquired and nourished until they can also be spun off into their ticker symbols. The main focus of Embarr Downs has been and always will be growing its stable of thoroughbreds but we can also maximize shareholder value through these subsidiaries."
The Company expects the Form 10 to be filed within the next 45-60 days.
About Embarr Downs. The Company is engaged in the buying, selling and racing of thoroughbreds. The Company's focus is acquiring thoroughbreds that can race in the allowance and stakes level of thoroughbred racing; however, the Company will initially begin acquiring thoroughbreds in the claiming level of thoroughbred racing. More information can be found at www.embarrdowns.com Additional information can be found at www.embarrdowns.com and on our Facebook page https://www.facebook.com/embarrdowns and Twitter at https://twitter.com/EmbarrDowns.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.