|By Marketwired .||
|June 2, 2014 06:00 AM EDT||
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.
For further information please contact:
Torrey Hills Capital
Jim MacDonald/Clay Chase
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Jan. 18, 2017 05:00 PM EST Reads: 1,103
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
Jan. 18, 2017 05:00 PM EST
In his General Session at 16th Cloud Expo, David Shacochis, host of The Hybrid IT Files podcast and Vice President at CenturyLink, investigated three key trends of the “gigabit economy" though the story of a Fortune 500 communications company in transformation. Narrating how multi-modal hybrid IT, service automation, and agile delivery all intersect, he will cover the role of storytelling and empathy in achieving strategic alignment between the enterprise and its information technology.
Jan. 18, 2017 04:45 PM EST Reads: 4,501
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at Logz.io, will explore the value of Kibana 4 for log analysis and will give a real live, hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He will examine three use cases: IT operations, business intelligence, and security and compliance. This is a hands-on session that will require participants to bring their own laptops, and we will provide the rest.
Jan. 18, 2017 04:45 PM EST Reads: 4,867
"We're bringing out a new application monitoring system to the DevOps space. It manages large enterprise applications that are distributed throughout a node in many enterprises and we manage them as one collective," explained Kevin Barnes, President of eCube Systems, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 18, 2017 04:45 PM EST Reads: 5,359
Buzzword alert: Microservices and IoT at a DevOps conference? What could possibly go wrong? In this Power Panel at DevOps Summit, moderated by Jason Bloomberg, the leading expert on architecting agility for the enterprise and president of Intellyx, panelists peeled away the buzz and discuss the important architectural principles behind implementing IoT solutions for the enterprise. As remote IoT devices and sensors become increasingly intelligent, they become part of our distributed cloud enviro...
Jan. 18, 2017 04:30 PM EST Reads: 4,642
In their general session at 16th Cloud Expo, Michael Piccininni, Global Account Manager - Cloud SP at EMC Corporation, and Mike Dietze, Regional Director at Windstream Hosted Solutions, reviewed next generation cloud services, including the Windstream-EMC Tier Storage solutions, and discussed how to increase efficiencies, improve service delivery and enhance corporate cloud solution development. Michael Piccininni is Global Account Manager – Cloud SP at EMC Corporation. He has been engaged in t...
Jan. 18, 2017 03:45 PM EST Reads: 4,663
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
Jan. 18, 2017 03:30 PM EST Reads: 3,666
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
Jan. 18, 2017 03:30 PM EST Reads: 3,398
"LinearHub provides smart video conferencing, which is the Roundee service, and we archive all the video conferences and we also provide the transcript," stated Sunghyuk Kim, CEO of LinearHub, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 18, 2017 02:45 PM EST Reads: 1,585
A look across the tech landscape at the disruptive technologies that are increasing in prominence and speculate as to which will be most impactful for communications – namely, AI and Cloud Computing. In his session at 20th Cloud Expo, Curtis Peterson, VP of Operations at RingCentral, will highlight the current challenges of these transformative technologies and share strategies for preparing your organization for these changes. This “view from the top” will outline the latest trends and developm...
Jan. 18, 2017 02:15 PM EST Reads: 972
Things are changing so quickly in IoT that it would take a wizard to predict which ecosystem will gain the most traction. In order for IoT to reach its potential, smart devices must be able to work together. Today, there are a slew of interoperability standards being promoted by big names to make this happen: HomeKit, Brillo and Alljoyn. In his session at @ThingsExpo, Adam Justice, vice president and general manager of Grid Connect, will review what happens when smart devices don’t work togethe...
Jan. 18, 2017 02:00 PM EST Reads: 373
When you focus on a journey from up-close, you look at your own technical and cultural history and how you changed it for the benefit of the customer. This was our starting point: too many integration issues, 13 SWP days and very long cycles. It was evident that in this fast-paced industry we could no longer afford this reality. We needed something that would take us beyond reducing the development lifecycles, CI and Agile methodologies. We made a fundamental difference, even changed our culture...
Jan. 18, 2017 02:00 PM EST Reads: 919
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Jan. 18, 2017 01:00 PM EST Reads: 3,461
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jan. 18, 2017 01:00 PM EST Reads: 5,592