San Francisco, California, Aug. 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”) announces today that it has finalized negotiations with Lave, Inc. to expand its current manufacturing processes in order to complete all purchase orders for its Cold-Water CBD Extraction systems. While acquisitions of companies in the hemp sector accelerate worldwide as industrial and consumer hemp/CBD markets develop, our Proscere Bioscience is the company’s division focused on the CBD industry with sales of over $23M during the first half of 2019 for its Cold-Water Extraction System and its new hybrid Cold-Water/Alcohol Combine Extraction technology. Distribution channels cover North America and Europe.
Richard Hylen, CEO and Chairman, stated, “The company is currently setup to manufacture and deliver its extraction systems utilizing a strategic partnership with Lave, Inc. This offers our Proscere Division a more streamlined 20,000 sq. ft. facility to perform manufacturing processes, assembly and testing before delivering the systems to our customers. We have $23M in orders being manufactured with 90-120 day delivery schedules. We also have potential orders of $74M that we are closing in the near future.”
Mr. Hylen further stated, “Our systems provide cannabis farms, processing plants and retailers the ability to capture over 90% product from the bio-mass with more efficiency, speed and higher grade. Proscere Bioscience is now the leader in this technology and is attracting the big players in the cannabis industry.”
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