DENVER and VANCOUVER, British Columbia, July 11, 2022 (GLOBE NEWSWIRE) -- SPOTLITE360 IOT SOLUTIONS, INC. (“SpotLite360” or the “Company”) (CSE: LITE) (OTC: SPLTF) (Frankfurt: 87A) is pleased to announce that it has entered into an agreement with Denver, Colorado based Eco Green Grow, LLC d/b/a Verde Natural (“Verde Natural”) (www.verdenatural.com). Under the terms of the first statement of work (“SOW”) the Company’s subsidiary E3 Service Group LLC (“E3”) will provide services, technology, and equipment to upgrade, manage, monitor, and maintain the environmental condition of Verde Natural’s Colorado based indoor cultivation facility. The value of the contract was not disclosed.
Bryson Guyer, Founder of E3 commented, “We bring optimization expertise of design, build and cultivation project management with operators in over a dozen states, effectively managing different cultivation variables and environmental conditions. E3 is excited to partner with Verde Natural for a world class smart facility. Every project is unique to the environmental conditions of the cultivation facilities and our engineering optimizes quality and yield”.
SpotLight360 is an enterprise scalable SaaS based technology firm focusing on improving collaboration and efficiency across the entire supply chain partner ecosystem. SpotLite360’s supply chain technology solutions provide the product tracing, tracking, transparency and trust that discerning customers and consumers are seeking. Facility, environment and equipment process designs offered by E3 leverageSpotLite360’s technology to obtain seed-to-sale data needed for proof of origin, authenticity, sustainability, and product quality that consumers demand in order to gain confidence in the product brand and to ensure that it is being sustainably produced.
Jeff Damavandi, Founder of Verde Natural, followed up, “Verde Natural is founded on the principles of living soil being a vital source of nutrients and life. Our strains are carefully cultivated with the most optimal environmental conditions around the living soil like water, temperature, humidity, and air quality. Verde Natural only grows with organic nutrients to allow our plants to naturally express the therapeutic and medicinal benefits of all the cannabis plant’s molecules. E3’s design/build and data analytics is a critical element in this life cycle”.
Verde Natural’s master grower began cultivating in Humbolt County, California with organically fed no-till outdoor growing. In 2009, Verde Natural began in Colorado with indoor living soil cultivation and their products have since won many awards including High Times Cup, Rooster Classic and THC Champion Top Choice. Verde Natural’s small batch hand grown cannabis is considered some of the highest quality product in the Colorado market and comes from indoor cultivation across nine flowering rooms. E3 is the trusted technology provider of environmental controls for heating, air-conditioning, humidity, air quality and filtration.
On behalf of the Board of Directors of the Company,
SpotLite360 IOT Solutions, Inc.
“James Greenwell”
James Greenwell, President and CEO
For more information about SpotLite360, please visit: http://spotlite360.com
Charles Lee
Investor Relations and Media Inquiries
+1 (720) 830-6120
ir@spotlite360.com
THE CANADIAN SECURITIES EXCHANGE (“CSE”) HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ACCURACY OR ADEQUACY OF THIS RELEASE, NOR HAS OR DOES THE CSE’S REGULATION SERVICES PROVIDER.
About SpotLite360 IOT Solutions, Inc.
SpotLite360 is a logistics technologies solutions provider unlocking value, opportunities, and efficiencies for all participants in a supply chain. Building upon existing applications of IoT technologies, distributed ledgers, and machine learning, SpotLite360 endeavours to set new standards of transparency, integrity, and sustainability in the pharmaceutical, healthcare, and agriculture industries. As regulators across the globe begin to impose new tracing and accountability requirements for the protection of consumers (e.g., DSCSA and FSMA from the U.S. Food and Drug Administration), the need for reliable, cost-effective, and versatile tracking technology is expected to grow considerably. SpotLite360’s flagship SaaS solution has been engineered to seamlessly track the movement of a product by integrating with systems of all major stakeholders in a supply chain ranging from the raw materials to the hands of the end consumer. With a primary objective of onboarding new clients in 2022, SpotLite360 plans to explore innovative use cases for its proprietary stack of technologies which could transform logistics workflows in some of the world’s largest industries.
Forward-Looking Statements
This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation, with respect to the Company. The forward-looking information included in this news release is not based on historical facts, but rather on the expectations of the Company’s management regarding the future growth of the Resulting Issuer, its results of operations, performance, business prospects, and opportunities. This news release uses words such as “will”, “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company’s management, based on information currently available to them.
This forward-looking information includes, among other things, statements relating to: the intentions, plans and future actions of the Company; statements relating to the business and future activities of the Company; anticipated developments in operations of the Company; market position, ability to compete, and future financial or operating performance of the Company; the timing and amount of funding required to execute the business plans of the Company; capital expenditures of the Company; the effect on the Company, of any changes to existing or new legislation or policy or government regulation; the length of time required to obtain permits, certifications and approvals; the availability of labour; estimated budgets; currency fluctuations; requirements for additional capital; limitations on insurance coverage; the timing and possible outcome of regulatory and permitting matters; goals; strategies; future growth; the adequacy of financial resources; our expectations regarding revenues, expenses and anticipated cash needs.
In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking statements are based on certain assumptions and analyses made by the Company in light of the experience and perception of historical trends, current conditions, and expected future developments and other factors it believes are appropriate and are subject to risks and uncertainties. Although the Company believes that the assumptions underlying these statements are reasonable, they may prove to be incorrect, and there can be no assurance that actual results will be consistent with these forward-looking statements. Given these risks, uncertainties, and assumptions, prospective investors should not place undue reliance on these forward-looking statements. Whether actual results, performance, or achievements will conform to the expectations and predictions of the Company is subject to a number of known and unknown risks, uncertainties, assumptions, and other factors, including those listed in the Company's non-offering prospectus dated May 26, 2021.
If any of these risks or uncertainties materialize, or if assumptions underlying the forward-looking statements prove incorrect, actual results might vary materially from those anticipated in the forward-looking statements. Information contained in forward-looking statements in this news release is provided as of the date of this news release, and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information or future events or results, except to the extent required by applicable securities laws. Accordingly, potential investors should not place undue reliance on forward-looking statements, or the information contained in those statements.
All the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
Statement Regarding Third-Party Investor Relations Firms
Disclosures relating to investor relations firms retained by SpotLite360 IOT Solutions, Inc. can be found under the Company's profile on http://sedar.com.
