SAN FRANCISCO, CA, Sept. 09, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”), Chairman and CEO, Richard Hylen, announces that growth in revenue and sales are occurring with all of the company’s subsidiaries.
Richard Hylen, CEO and Chairman, stated, “Since my appointment starting in late 2018 , our company has demonstrated growth in revenue and sales for all 3 of our subsidiaries. We have purchased notes and retired stock in the amount of $2.7M since the beginning of 2019, and our sales to date have exceeded $20M for 2019, with pending negotiations of $75M in future sales.”
Mr. Hylen further stated, “Proscere Bioscience continues to demonstrate strong growth in the growing CBD industry, with our focus on fulfilling $20M+ in purchase orders for our CBD Extraction systems. We have developed relationships with the largest CBD product suppliers in the world, as well as have opened doors for future orders with an emphasis on pharmaceutical grade needs with hemp, CBD and cannabinoid based products. In 2018, investors put $10 billion into the North American marijuana market, which is expected to be worth $16 billion by the end of 2019. Legal marijuana in this continent was a $10.4 billion dollar industry in 2018, meaning it’s expected to grow more than 50% in just one year. California is still the state with the largest market. The average funding round from public companies in NA was $24.6 million in January of 2019; contrast that figure with January of 2018, when the average funding round was a little over half that, at $13.7 million. The industry has exploded in just the past year, but this is only the beginning. Wall Street’s top Cannabis analyst, Cowen Vivien Azer, predicts that the cannabis industry in the US alone will grow to $80 billion by 2030, assuming national availability in the coming years. CBD is one of the most lucrative categories of products in the cannabis industry, and according to analyst Cowen Vivien Azer, CBD will bring in $1.6 billion in total revenue in the United States within 1 to 2 years. Our Proscere Bioscience CBD Extraction system will be the leading product for the CBD market suppliers of extraction based products.”
Safe Harbor for Forward-Looking Statements: This 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.
Contact:Richard Hylen, CEOTel: (530) 205-3437