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Green Leaf to begin its cultivation on a commodity level production of cannabis oils, distillates, isolates and related products for distribution and has now assembled its management team to oversee its Las Vegas and Argentina projects.
LAS VEGAS, April 16, 2019 (GLOBE NEWSWIRE) -- Player’s Network, Inc. (OTCQB: PNTV), is in the process of changing its name to Green Leaf Farms International, Inc. with the new ticker symbol to be GLFI. PNTV/GLFI is a rapidly growing company in the worldwide cannabis industry with initial operations in Nevada and currently building a medical derivatives production project in Argentina.
Growsmith was first tasked with revamping and optimizing the Company's 27,000 sq. ft indoor North Las Vegas facility which serves the Nevada market. Since Growsmith took over the company’s North Las Vegas facility in January, the operation is running much more efficiently and producing a higher quality product, leading to greater revenue. The Growsmith team is now preparing next month to help train and educate local agriculture workers in Argentina to transition them into experts in the art and science of cannabis production with medical purposes.
As previously announced in its definitive agreement, the Company has entered into a joint venture with a state owned company of the government of Jujuy Province, Argentina, with the purpose of producing cannabis medical derivatives. Also as previously announced the state owned Company has received approval from the Argentine government to import cannabis seeds to begin operations to produce medical cannabis oils, distillates, isolates and related health products for the local public health system, clinical trials, medical product registration, and exportation of medical derivatives.
The first phase of the Jujuy project has already received security and health approvals, with the first 8 hectares (20 acres) of land irrigated and ready for planting, expected to take place this year in accordance with Argentinean law and federal government approvals.
There is a rapidly growing worldwide demand to supply a wide range of industries including soft drink, cosmetic, pharmaceutical, nutraceutical and other health related industries with CBD-infused products and Green Leaf has positioned itself as a producer of Cannabis based commodities.
In order to manage such operations Green Leaf undertook a search for a highly experienced cultivation and production team with the experience and knowhow to produce cannabis on such a large scale. After several months of interviewing companies, management selected Growsmith. Led by its founder, Mr. Vyas, Growsmith brings an experienced team of over a dozen agricultural experts with more than 100 years of combined experience in a wide range of disciplines. Over the past eight years Growsmith has been part of the infrastructural design, environmental management and build-out of over 1 million sq. ft of cannabis growing operations in the U.S., Canada, and other countries.
S. Vyas, President of Growsmith states, “We are thrilled to be chosen by Green Leaf Farms to spearhead the cultivation and production operations for both their North Las Vegas and Argentinian projects. This relationship is the culmination of over a year of due diligence on behalf of both our groups. We are excited for the opportunity to showcase the many skills and resources our team has developed, as well as sharing this knowledge through the development of educational programs.”
M. Bradley , CEO of Green Leaf Farms states, “The Growsmith team has the depth of knowledge and experience needed to take on our projects. Most importantly they possess the passion and understanding of what's needed to be successful while not just entering, but creating a whole new market producing commodity level quantities of cannabis distillates, oils, and isolates now being demanded by the rapidly emerging worldwide market for cannabis infused products. I am pleased to add Mr. Vyas and his team to ours.”
PNTV published their updated Investor Presentation which explains their business model and plan to increase shareholder value. To view the and download the Investor Presentation, please visit https://playersnetwork.com/investor-presentation.
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Growsmith is a procurement, service management and design company based out of Boulder, Colorado. Founded in 2011, Growsmith is a leader in the development and implementation of advanced protocols for the design, procurement, management and service of commercial cannabis cultivation and production facilities. The company has developed long term relationships with manufacturers to develop new products, applications and protocols for the rapidly expanding cannabis sector. Growsmith currently assists operations of over 400,000 sq ft of cultivation in the US, Puerto Rico, Canada, Jamaica and Colombia.
About Player’s Network (stock symbol PNTV)
Player’s Network is a rapidly growing company in the marijuana industry with licensed grow operations in Las Vegas, Nevada and Jujuy, Argentina (only for medical purposes). Over the last twelve months, the Company has grown from a development stage company to a fully operational cannabis business. The business strategy is to grow by acquisitions, joint ventures, and new market opportunities in the US and Internationally. Cannabis is legal for medical use in thirty States plus DC. It is legal for adult recreational use in nine States plus DC. The entire country of Canada legalized marijuana adult use in October 2018. Other 50 countries have legalized cannabis with medical purposes. The Company believes this trend of legalization of marijuana in the US and worldwide will continue and create tremendous growth opportunities for shareholders.
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Information about Forward-Looking Statements
This press release contains “forward-looking statements” that include information relating to future events. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by which, that performance or those results will be achieved. Forward-looking statements are based on information available at the time they are made and/or management’s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in, or suggested by, the forward-looking statements. Important factors that could cause these differences include, but are not limited to: inability to gain or maintain licenses, reliance on unaudited statements, the Company’s need for additional funding, governmental regulation of the cannabis industry, the impact of competitive products and pricing, the demand for the Company’s products, and other risks that are detailed from time-to-time in the Company’s filings with the United States Securities and Exchange Commission. For a more detailed description of the risk factors and uncertainties affecting Players Network, please refer to the Company’s recent Securities and Exchange Commission filings, which are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
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