San Francisco, California, Feb. 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK:SIML) (“Simlatus” or the “Company”) announces that its CBD division, Proscere Bioscience, has reached a closing date on or before March 31, 2019 with a Swiss-based CBD company.
Proscere Bioscience manufactures and distributes commercial cold-water CBD extraction systems. This advanced method and technology is highly effective in producing medical-grade CBD.
Richard Hylen further stated, “Our CBD extraction systems range from $750,000 for a high-end commercial system capable of 3000 gallons per day, to our low-end model costing $400,000. The company in Switzerland will receive an exclusive 5 year license with sell volume discounts of up to $50M per year. Europe is already a fertile ground for hemp and it’s growing fast thanks to the increasing consumption of other hemp-based products. In 2016, 33,000 hectares of hemp were cultivated on the continent, which equals about 81,500 acres. In the same year, the United States grew 9,650 acres.”
Mr. Hylen further stated, “Our European target is the large pharmaceutical companies. Epidiolex, which is CBD based, is used to treat seizures. CBD can be used to help people suffering with a wide range of ailments. From treating pain, inflammation, infections, sleep issues and mood disorders. CBD is also proven to support the immune system, protects the brain and fights cancer. Our commercial cold-water CBD extraction system is expected to yield $225M over the next 5 years, based upon expected growth and application.”
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