SAN FRANCISCO, CA, April 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”), the company announces that its Cannabis Division, Proscere Bioscience, has signed a 5-year distribution agreement with United Opportunities, LLC in value of $175M to sell its Cold-Water Cannabis/Hemp Extraction Systems in Europe and Canada.
On March 29, 2019, the Board of Directors approved the Company and its subsidiary, Proscere Bioscience Inc., to enter into a Distribution Agreement with United Opportunities, LLC allowing the rights to sell the Cold-Water Cannabis/Hemp Extraction Systems within all of Canada and Europe. The term of the agreement is for five years with guaranteed minimal purchase orders of $35,000,000 per year and/or $175,000,000 over a five year period.
Shawn Illingworth is the Managing Partner of United Opportunities, LLC, and the company was formed in 2017 in overseeing the purchases of multiple cannabis farms in the Humboldt, Adelanto, Needles, Nipton, Cal City, and Searchlight areas of California and Nevada. The company currently cultivates medical grade crops on a grand scale and supply product to all the major manufacturers and extraction companies in the industry. Future plans are to expand the company and distribute internationally through attaining cultivation centers in Canada, Europe and Australia. United Opportunities is currently opening an office and showroom in Las Vegas, NV which will round out its current operating platforms in New York, Florida, and San Diego, California.
Proscere Bioscience manufactures and distributes a proprietary commercial Cold-Water Cannabis/Hemp Extraction Systems. This advanced method and technology is highly effective in producing medical-grade product used to help people suffering with a wide range of ailments; from treating pain, inflammation, infections, sleep issues and mood disorders. The CBD is also proven to support the immune system, protects the brain and fights cancer. Proscere Bioscience’s commercial Cold-Water Cannabis/Hemp Extraction Systems are expected to yield $225M over the next 5 years, based upon expected growth and application.
Safe Harbor for Forward-Looking Statements: his news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.