PHOENIX, AZ and NIPTON, CA , March 28, 2018 (GLOBE NEWSWIRE) -- Today American Green, Inc. (OTC: ERBB) is pleased to announce that it has entered into a Joint Venture (JV) to create a CBD processing plant in Nipton, Ca. with MediaTechnics Corporation (OTC: MEDT).
- Under the terms of the JV, MEDT is to specify, procure, design, develop and install a state-of-the-art extraction facility in Nipton, capable of extracting Cannabidiol (CBD) from Industrial Hemp. Industrial hemp contains less than 0.003% THC, below the level where it can be considered a psychoactive drug.
- The parties intend to use CBD (Cannabidiol) to manufacture multiple products, including CBD Infused Water, drawn from a major regional aquifer located nearby Nipton.
- The Ivanpah Valley Aquifer contains millions of acre-feet of unspoiled, ancient water and we intend to build a bottling plant to produce Nipton Water and Nipton CBD Infused Water as well as manufacturing other CBD based products, all from safe, legal, high quality Industrial Hemp.
- The offcast hemp from the extraction plant will also be utilized to manufacture American GreenCrete, a high quality, 100% recycled construction material for use in housing and other facilities in and around Nipton and worldwide.
The principles and consultants of MEDT have decades of experience running multiple hemp-related businesses in and around Los Angeles, including the management of one of Los Angeles’ premier dispensaries and operating multiple grows - all, while helping to build one of the top extraction companies in the state.
MEDT’s President, Jeremy Carr, stated, “We are thrilled to lend our expertise to American Green’s Nipton project and to be part of California’s first ‘Cannabis-Friendly Destination’.”
Along with American GreenCrete, these facilities are among the first of many other revenue-generating opportunities American Green plans for Nipton and the surrounding areas including Searchlight and Primm Nevada.
In other news:
Senate Majority Leader Mitch McConnell (R-KY), together with Ron Wyden (D-OR) and Rand Paul (R-KY) plan to introduce The Hemp Farming Act of 2018 to completely remove Industrial Hemp from the Controlled Substances Act. This far exceeds the modest exemptions allowed under the 2014 Farm Bill.
McConnell Plans to Legalize Hemp Nationwide
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, be should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
About American Green, Inc.
American Green, Inc., became, in 2009, one of the first publicly traded technology companies in the cannabis industry. Now, with over 50,000 individual shareholders, more than any other company in the cannabis sector, American Green's mission is to lead the cannabis industry. Leveraging our team of professionals in cultivation, manufacturing, extraction, wholesale, retail, and community outreach, we strive to develop sustainable initiatives, while increasing shareholder value and company profit.
About Mediatechnics Corporation
MediaTechnics Corporation (OTC PINK: MEDT) (http://www.bloomberg.com/quote/MEDT:US) and its wholly owned subsidiary BlazeNow Inc, specialize in providing ancillary products and services to the medical and recreational Cannabis industries. Our management will utilize industry experience to target the areas of the market with the highest profit potentials.
We believe in the future legitimacy and profitability of the industry based on recent studies showing bi-partisan support and demand for Cannabis. We believe that Cannabis provides a healthier alternative to conventional pharmaceutical and recreational drugs and will play an important role in the future of our country's health care. We are determined to be a dominant force in defining this emerging market.