SANTA CLARITA, CA, Dec. 26, 2017 (GLOBE NEWSWIRE) --
USEI CANNABIS INITIATIVES CORP, a wholly owned subsidiary of US ENERGY INITIATIVES CORPORATION, INC. (OTC PINK: USEI) a California based company, has purchased its first MRX 20L Super-critical CO2 Botanical Extraction Unit to be used for the express purpose of participating in the California cannabis industry. Last month, USEI announced that it has purchased its first MRX 20L CO2 Extraction Unit to be utilized in California's Legal Cannabis Industry. Last week, USEI took a team of five to Camby, Oregon for training, a mandatory step required to be ready to participate in this amazing legal marketplace.
On January 3, 2018, California (the largest black market for cannabis in the world) becomes the largest legal cannabis market in the world, with an estimated market of approximately $6.8 billion dollars. This unit is the first of many that will be procured in 2018 to help provide California's industry with this vital extracted resource. This oil is the most significant product produced in this legal industry, and the most profitable sector of this industry.
According to Anthony Miller, CEO, "Last week our team went to Oregon for training to become familiar with our equipment; once we are ready to take delivery we will have on-site training under real world conditions. We bought and paid ‘in full’ ($190k) for our first MRX 20 Liter Supercritical CO2 Xtractor and our goal is to acquire 2 more units in 2018 (Additional information about the MRX technology can be found at http://mrxxtractors.com/, and our website www.useicannabis.com/web or our Facebook page). These devices require 9-18 pounds of cannabis daily (500 pounds per month). The MRX technology is arguably the best available non-violate cannabis extraction device on the planet, extracting the highest yield per pound and the best quality cannabis oil; we believe that it provides us with an added advantage over other available technologies.
“At the moment of this press release… there are only a handful of companies that have received licenses for operating in this legal market; and in the next 4-6 months California will be issuing licenses to participants in three phases. The state of California has gone to great lengths to level the playing field so that new entrants have the same opportunity as long time players. We will be seeking to procure a “Micro Business License” that contains up to 4 distinct licenses and one of them will be manufacturing. We are actively working to acquire a location(s) and strategic partnerships to capitalize on our opportunities.
“Our business plan includes cannabis extractions using all available techniques, so collectively, we intend to produce a wide range of products. We also have a plan (announcing in the coming days) designed to fund our future growth and allow us to procure a significant amount of post-production equipment to grow this business. We believe that our business plan will produce significant revenue for USEI in 2018, adding significant value to our shareholders. On another note: In the past few years we issued dividends to shareholders of record; and many of you have had difficulties getting the 144 legend removed from these securities. If we are to accomplish what we plan for 2018, those (free) shares, issued to you, will have significant value. Our attorney Thomas C. Cook has agreed to write opinions on those issued shares for $300.00 per transaction (no blanket opinion can be offered) and he further offers to expedite those requests as they are submitted.
“We are actively working on obtaining provisional licenses to begin our operation next month, once our site is prepared and our unit arrives (see images and video from this trip on our Facebook page @ www.useicannabis.com/web). Again, I want to thank those investors who have diligently hung in there while we had been working behind the scenes to make this venture come to life, and we hope that our good work will become beneficial to you all. Thanks again," commented Miller.
About U.S. Energy Initiatives: U.S. Energy Initiatives Corporation (OTC PINK: USEI) is a diverse energy firm. USEI, and its wholly owned subsidiary, USEI Cannabis, business' center on hemp to energy, everything cannabis related and developing products and services for the marketplace. Our Ultimate Cure & Real McCoy Genuine Products: we market vapor pens and accessories, topical ointments, cannabis oils and tinctures all under these same names. Our goal here is to become an environmentally responsible firm, marketing our products to our audience to produce significant revenue and add value for our shareholders. We have very ambitious goals and objectives for USEI Cannabis and we believe that we will have a very long presence in Washington, Oregon, California and wherever cannabis is legal. Our objective is to create a foundation that will be instrumental in our continued efforts to capture our market-share and create viable products that meet our goals and objectives for these markets. For more information regarding our strategies it can be found on the company's website @ www.useicannabis.com/web/.
DISCLOSURES: "Safe Harbor" This press release contains forward-looking statements including statements regarding the timing of the revenue from the partnership and the partnership's success. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include consumer reaction to our Cannabis products and new regulations which affect the distribution of these products. Further information on our risk factors is contained in our filings with the OTC Markets. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.