TULSA, OK -- December 7, 2021 -- InvestorsHub NewsWire
-- Limitless Venture Group, Inc. (OTC
PINK:LVGI) ("LVGI" or the "Company"), a publicly traded holding
company that provides its shareholders with access to investment
opportunities in small and medium-sized businesses uniquely
positioned for rapid growth, is pleased to announce that it has
signed an LOI to acquire 100% of an Oklahoma operating grow
facility with both Indoor and outdoor operations, exclusive to LVGI
for 60 days from the signing of the LOI.
The operation has had 1 full outdoor grow season producing
around 1,200 pounds of cannabis, according to the owners.
Additionally, they currently have approximately 400 plants growing
indoors and expect to harvest them this month. Both outdoor and
indoor operations have all the necessary equipment, lighting,
heating/cooling etc. as necessary to produce quality plants.
Additionally, the current staff seems willing to stay on and work
with LVGI as necessary. More information will be available and
provided once we close on this opportunity.
With the current levels of operations, LVGI surmises there is an
ability to grow 1.5 to 2 outdoor harvests. Using the current
production numbers that would yield around 1,800 to 2,400 pounds of
cannabis annually outdoors. With a saleable low price range of
around $1,000 per pound, LVGI's first year of outdoor production,
if all goes well, could be worth between $1,800,000 and $2,400,000.
Indoors, there is the ability to grow year round and that could
mean up to 5 harvests annually. The facility is now operating in
about 2,000 sq/ft of space. Again, using current production levels
of which there are approximately 400 plants growing, that would
mean LVGI's first full year of indoor growing could produce 2,000
plants, which should yield around ¼ pound per plant
(per leafly.com),
equaling about 500 pounds. Again, at a low price of around $1,000
per pound, that would generate an additional $500,000 annually,
making the total annual revenues for LVGI of between $2,300,000 and
$2,900,000 YEAR ONE!. There are many variables that would change
these numbers dramatically and they are being used only as a
reference. There is additional indoor space available that can be
converted into grow rooms that could potentially quadruple, up to
8,000 sq/ft, the indoor grow area as well as increasing the usable
outdoor area and adding greenhouses to extend the outdoor
seasons.
Joseph Francella, CEO states "This is a fantastic opportunity
for LVGI and its shareholders. 100% of the facility and operations
are being offered along with current inventory, which gives LVGI
the opportunity to achieve revenues and profitability almost
immediately. Additionally, the current staff has indicated that
they would like to stay on with the company to help us grow the
operations. Since there are tangible assets, LVGI and the seller
are pursuing an all cash purchase, with LVGI financing the
acquisition." Furthermore, " Our institutional investor has already
given LVGI a strong indication of interest in assisting with the
financing of this acquisition and is planning a trip to Oklahoma in
the very near future to view the property first-hand.
"With Oklahoma's MMJ dispensaries amassing $385 million in sales
through June 2020, it is critical for LVGI to establish a foothold
in this market quickly," said Devon Diaz, P.E., COO of LVGI.
"Signing an LOI to acquire 100% of an existing Oklahoma grow
facility represents tremendous potential that will complement our
existing strategy for growth in the health and wellness
marketplace. When we complete this deal, it will be our fourth
acquisition in the last two years and will open up new
opportunities for us to work more closely with our subsidiary Rokin
Vapes as they have a great deal of knowledge and connections in
this market which could provide great short and long term benefits.
Furthermore, with the potential for immediate cash flow, this
acquisition will be exactly what will continue to position LVGI for
long-term growth and success."
About Limitless Venture Group, Inc.
Limitless Venture Group provides its shareholders with access to
leading small and medium-sized businesses focused on growth.
Leveraging its permanent capital base, disciplined long-term
approach, and actionable expertise, LVGI owns controlling interests
in its subsidiaries as it partners with management teams to build
businesses with the capacity to unlock significant value for its
shareholders.
For more information, please visit: www.lvginc.com.
The Company currently has three primary subsidiaries: Rokin,
Inc., KetoSports, Inc. and Jasper Benefit Solutions, LLC.
About Rokin, Inc.
Rokin was founded in 2016 with a mission to provide our
customers with the highest quality, technology-driven vaping
products available while providing exceptional customer service.
Rokin Vapes are rigorously tested by Rokin and multiple consumer
focus groups to ensure the products meet strict quality standards
before any production takes place. After a product is selected and
production complete, the product is certified to the latest FCC, CE
standards (which are required for all vaping products) but then
Rokin goes above and beyond to certify our vaping products to the
latest RoHS standard, which restricts the use of six hazardous
materials commonly found in electronic products. www.rokinvapes.com
About KetoSports, Inc.
KetoSports products flush the body with ketones, raising blood
ketone levels within a few minutes. Because the body and brain use
ketones as its preferred energy source and are used first for
energy demands, KetoSports products are essential for anyone who
wants to prolong energy reserves for their athletic events or for
those who just want to benefit from carb-free, stimulant-free
mental energy and enhanced acuity.
www.ketosports.com
About Jasper Benefit Solutions, LLC
Jasper Benefit Solutions, LLC (JBS), founded in 2018 with
headquarters just outside Nashville, TN, is a Managing General
Underwriter (MGU) specializing in risk management services for
small to medium self-funded employer "Groups". MGUs, unlike general
agents within insurance industries, are certified to underwrite
health and life benefits policies on behalf of their
carrier-partners. Jasper's niche is the unique ability and
authorization from a well-known, nationally recognized insurance
carrier to underwrite Groups as small as five (5) employees as well
as offering limited benefit insured products for groups with
part-time employees not able to participate in their health
plans. jasperbenefitsolutions.com
Follow us on Social Media at:
https://www.facebook.com/lvginc
https://twitter.com/lvginc
Disclaimer Regarding Forward-Looking Statements
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Statements contained in this release that are not historical facts,
including, without limitation, statements that relate to the
Company's expectations with regard to the future impact on the
Company's results from new products in development, may be deemed
to be forward-looking statements. Words such as "expects,"
"intends," "plans," "may," "could," "should," "anticipates,"
"likely," "believes" and words of similar import also identify
forward-looking statements. These statements are subject to risks
and uncertainties. Forward-looking statements are based on current
facts and analysis and other information that are based on
forecasts of future results, estimates of amounts not yet
determined and assumptions of management. Readers are urged not to
place undue reliance on the forward-looking statements, which speak
only as of the date of the release. Except as may be required under
applicable law, we assume no obligation to update any
forward-looking statements in order to reflect any event or
circumstance that may arise after the date of this release.
SOURCE: Limitless Venture Group, Inc.
Limitless Venture (PK) (USOTC:LVGI)
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