Click here to close now.

Welcome!

News Feed Item

Verde Science, Inc. Signs First Long Term Advisory Services Contract With Los Angeles County Medical Marijuana Dispensary; Unveils Additional Details About Its New Strategic Direction and Recurring Revenue Business Model

Company Contracts With Sherman Oaks Holistic Oasis to Provide Design, Engineering, Build and Financing of a New Grow Facility to Increase Product Yield, Quality and Profitability

LOS ANGELES, CA -- (Marketwired) -- 06/02/14 -- Verde Science Inc. (OTCQB: VRCI) today announced that it has signed its first long-term contract with Sherman Oaks Holistic Oasis (SOHO), a legal, licensed medical marijuana dispensary located in Los Angeles County since 2006 which services more than 1,600 patients. Verde will earn an ongoing monthly management fee based on costs savings generated from its advisory services as well as a royalty on all product sales. Los Angeles County is thought to be the largest medical marijuana market in the world.

Verde will provide design, engineering, construction, financing and management services to SOHO to construct a state-of-the-art medical marijuana cultivation facility. By leveraging Verde's technical expertise, SOHO will achieve greater crop yields resulting in substantially lower costs. Final terms of the construction funding from Verde Science Financial Services will be disclosed upon signing.

As previously announced, Verde Science will introduce state-of-the-art aeroponic growing technology to the Southern California market, and the initial site will be SOHOs grow facility. Aeroponics utilizes no soil or any other growth media like hydroponics. Rather, plants grow with their roots suspended in the air and are intermittently misted with nutrient solution. The benefits of aeroponics are healthier plants, increased yields and shortened crop turns, but the single most important aspect of this technology is the consistent quality and potency of the product which is also free of molds, pesticides, and diseases.

Verde Science's newly appointed director, Luis Bobadilla, has eight years of operational experience in the legal medical marijuana business in Los Angeles. He is very influential among a sizable group of the 132 legal dispensaries in LA County. With the assistance of Verde Science, a significant number of these dispensaries will gain access the same benefits as SOHO obtains with the deal announced herein. They will have lowered costs, reliable and available products, operational assistance and most importantly access to capital. Currently these businesses have little or no access to capital with which to expand and operate. The availability of capital combined with the huge technical advantage that Verde Science brings to the market assures that dispensaries who team up with Verde will come to dominate in their local market.

Verde Science's CEO, Harp Sangha, commented, "We are excited to announce our contract with SOHO and look forward to working with them to increase profitability, output, and quality. This is the first of what we expect to be several long-term agreements that we will sign with dispensaries in Los Angeles Country. We see an outstanding opportunity to enter this market, establish our best practices and then move into other legal jurisdictions as well."

Director, Luis Bobadilla, stated, "Verde Science Financial Services will be a crucial asset to Verde's partners because they will provide funding to businesses which have no other access to the capital markets. The funds will allow dispensaries to procure essential real estate, equipment, and operating capital, and facilitate accelerated customer acquisition. Verde will secure and service the financing with a royalty stream from product sales. Risk is mitigated as facilities will be designed and built to service existing patient demand supported by an existing revenue stream. Verde will leverage its proprietary commercial aeroponic technology to deliver 20% to 40% cost savings over current wholesale market prices along with increases in annual crop turns between 20% and 60%. Finally, access to our proprietary, highest quality marijuana genetic strains will provide dispensaries with the most requested varieties, which naturally command a price premium in the world's largest medical marijuana market. Also we cultivate pre-vegetated plants to maximize yield per square foot in the customer's flowering facility. The cost savings and technology which Verde is bringing to the market will by necessity be adopted by a large percentage of LA County dispensaries."

Verde Science will soon launch a research division that will develop marijuana strains specifically targeted towards certain diseases. In conjunction the research division will create medicinal products, pills, tablets, salves, etc. which will be clinically tested on various conditions and ailments for which THC and cannabinoids appearing promising. This will involve various formulations of the drugs as well as determining the appropriate dosing of those drugs. In time this market will likely come under the jurisdiction of the FDA and/or Health Canada. Verde Science will be ready when this happens.

Mr. Sangha concluded, "We are in the process of securing non-dilutive funding to support the growth of our advisory business and will be providing more details on the specifics of the financial model as it solidifies, but Verde will be the general partner of an investment fund that will provide capital to growers to implement Verde's state of the art grow technologies. It is a model that investors and licensed operators are both very excited about. Likewise, we are very enthusiastic about our position in the market and our ability to create a sustainable, recurring revenue stream while bringing quality product and operational efficiencies to our clients' businesses."

About Verde Science

Verde Science plans to take an all-encompassing, integrated public health approach to medical marijuana with a focus on becoming the leader in providing services to legal, licensed cannabis cultivators and dispensaries and their patient community. Verde's focus, in collaboration with its partners, is on deploying ad advanced array of technical services to foster an integrated health care model in California and, over time, other U.S. states.

The Company provides a variety of products and services to its clients by using best practices to ensure the best quality of product, produced with focus on cost control and legal compliance. Verde Science is meticulous, measured and diligent with an absolute focus on compliance while offering growers and their patient community unsurpassed, fully integrated, holistic health care products and programs.

Verde Science is one of the initial corporate players in the medical marijuana industry providing sophistication, controls, standards and innovation. The company has and will continue to assemble a highly experienced team that will deploy state-of-the-art technology and a superior methodology to enter and take meaningful market share that can be repeated and expanded as more and more jurisdictions adopt legal use of cannabis products to address health care issues.

Safe Harbor Statements
Certain information contained in this news release constitutes "forward-looking statements" as such term is used in applicable United States and Canadian laws. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "estimates", "intends" or "believes", or that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", or "be achieved".

Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking statements. Many of these factors are beyond the Company's ability to control or predict. Important factors that may cause actual results to differ materially and that could impact the Company and the statements contained in this news release can be found in the Company's filings with the SEC. Such risks and other factors include, among others, the ability to locate and acquire suitable interests in alternative medicine manufacturing operations on terms acceptable to the Company, the availability of financing on acceptable terms, accidents, labor disputes, acts of God and other risks of the alternative medicine industry including, without limitation, delays in obtaining governmental approvals or permits, title disputes or claims limitations on insurance coverage. The Company believes that the expectations reflected in the forward-looking statements included in this news release are reasonable; however, no assurance can be given that these expectations will prove to be correct, and such forward-looking statements should not be unduly relied upon. The Company assumes no obligation to update or supplement any forward-looking statements whether as a result of new information, future events or otherwise.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
"We have a tagline - "Power in the API Economy." What that means is everything that is built in applications and connected applications is done through APIs," explained Roberto Medrano, Executive Vice President at Akana, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
Containers have changed the mind of IT in DevOps. They enable developers to work with dev, test, stage and production environments identically. Containers provide the right abstraction for microservices and many cloud platforms have integrated them into deployment pipelines. DevOps and Containers together help companies to achieve their business goals faster and more effectively. In his session at DevOps Summit, Ruslan Synytsky, CEO and Co-founder of Jelastic, reviewed the current landscape of...
"AgilData is the next generation of dbShards. It just adds a whole bunch more functionality to improve the developer experience," noted Dan Lynn, CEO of AgilData, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
The Internet of Things is not only adding billions of sensors and billions of terabytes to the Internet. It is also forcing a fundamental change in the way we envision Information Technology. For the first time, more data is being created by devices at the edge of the Internet rather than from centralized systems. What does this mean for today's IT professional? In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists addressed this very serious issue of pro...
The cloud has transformed how we think about software quality. Instead of preventing failures, we must focus on automatic recovery from failure. In other words, resilience trumps traditional quality measures. Continuous delivery models further squeeze traditional notions of quality. Remember the venerable project management Iron Triangle? Among time, scope, and cost, you can only fix two or quality will suffer. Only in today's DevOps world, continuous testing, integration, and deployment upend...
"We provide a web application framework for building really sophisticated web applications that run on a browser without any installation need so we get used for biotech, defense, and banking applications," noted Charles Kendrick, CTO and Chief Architect at Isomorphic Software, in this SYS-CON.tv interview at @DevOpsSummit (http://DevOpsSummit.SYS-CON.com), held June 9-11, 2015, at the Javits Center in New York
Discussions about cloud computing are evolving into discussions about enterprise IT in general. As enterprises increasingly migrate toward their own unique clouds, new issues such as the use of containers and microservices emerge to keep things interesting. In this Power Panel at 16th Cloud Expo, moderated by Conference Chair Roger Strukhoff, panelists addressed the state of cloud computing today, and what enterprise IT professionals need to know about how the latest topics and trends affect t...
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
In the midst of the widespread popularity and adoption of cloud computing, it seems like everything is being offered “as a Service” these days: Infrastructure? Check. Platform? You bet. Software? Absolutely. Toaster? It’s only a matter of time. With service providers positioning vastly differing offerings under a generic “cloud” umbrella, it’s all too easy to get confused about what’s actually being offered. In his session at 16th Cloud Expo, Kevin Hazard, Director of Digital Content for SoftL...
"A lot of the enterprises that have been using our systems for many years are reaching out to the cloud - the public cloud, the private cloud and hybrid," stated Reuven Harrison, CTO and Co-Founder of Tufin, in this SYS-CON.tv interview at 16th Cloud Expo, held June 9-11, 2015, at the Javits Center in New York City.
One of the hottest areas in cloud right now is DRaaS and related offerings. In his session at 16th Cloud Expo, Dale Levesque, Disaster Recovery Product Manager with Windstream's Cloud and Data Center Marketing team, will discuss the benefits of the cloud model, which far outweigh the traditional approach, and how enterprises need to ensure that their needs are properly being met.
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
"Plutora provides release and testing environment capabilities to the enterprise," explained Dalibor Siroky, Director and Co-founder of Plutora, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
SYS-CON Events announced today that JFrog, maker of Artifactory, the popular Binary Repository Manager, will exhibit at SYS-CON's @DevOpsSummit Silicon Valley, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Based in California, Israel and France, founded by longtime field-experts, JFrog, creator of Artifactory and Bintray, has provided the market with the first Binary Repository solution and a software distribution social platform.