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.

For further information please contact:

Harp Sangha
Chairman/CEO
1-858-210-0236
[email protected]

Torrey Hills Capital
Jim MacDonald/Clay Chase
1-858-759-9902

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
Bill Schmarzo, author of "Big Data: Understanding How Data Powers Big Business" and "Big Data MBA: Driving Business Strategies with Data Science," is responsible for setting the strategy and defining the Big Data service offerings and capabilities for EMC Global Services Big Data Practice. As the CTO for the Big Data Practice, he is responsible for working with organizations to help them identify where and how to start their big data journeys. He's written several white papers, is an avid blogge...
"We are a well-established player in the application life cycle management market and we also have a very strong version control product," stated Flint Brenton, CEO of CollabNet,, in this SYS-CON.tv interview at 18th Cloud Expo at the Javits Center in New York City, NY.
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
One of the biggest challenges with adopting a DevOps mentality is: new applications are easily adapted to cloud-native, microservice-based, or containerized architectures - they can be built for them - but old applications need complex refactoring. On the other hand, these new technologies can require relearning or adapting new, oftentimes more complex, methodologies and tools to be ready for production. In his general session at @DevOpsSummit at 20th Cloud Expo, Chris Brown, Solutions Marketi...
At the keynote this morning we spoke about the value proposition of Nutanix, of having a DevOps culture and a mindset, and the business outcomes of achieving agility and scale, which everybody here is trying to accomplish," noted Mark Lavi, DevOps Solution Architect at Nutanix, in this SYS-CON.tv interview at @DevOpsSummit at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
HyperConvergence came to market with the objective of being simple, flexible and to help drive down operating expenses. It reduced the footprint by bundling the compute/storage/network into one box. This brought a new set of challenges as the HyperConverged vendors are very focused on their own proprietary building blocks. If you want to scale in a certain way, let's say you identified a need for more storage and want to add a device that is not sold by the HyperConverged vendor, forget about it...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
It is of utmost importance for the future success of WebRTC to ensure that interoperability is operational between web browsers and any WebRTC-compliant client. To be guaranteed as operational and effective, interoperability must be tested extensively by establishing WebRTC data and media connections between different web browsers running on different devices and operating systems. In his session at WebRTC Summit at @ThingsExpo, Dr. Alex Gouaillard, CEO and Founder of CoSMo Software, presented ...
In this presentation, you will learn first hand what works and what doesn't while architecting and deploying OpenStack. Some of the topics will include:- best practices for creating repeatable deployments of OpenStack- multi-site considerations- how to customize OpenStack to integrate with your existing systems and security best practices.
As you move to the cloud, your network should be efficient, secure, and easy to manage. An enterprise adopting a hybrid or public cloud needs systems and tools that provide: Agility: ability to deliver applications and services faster, even in complex hybrid environments Easier manageability: enable reliable connectivity with complete oversight as the data center network evolves Greater efficiency: eliminate wasted effort while reducing errors and optimize asset utilization Security: implemen...
Your homes and cars can be automated and self-serviced. Why can't your storage? From simply asking questions to analyze and troubleshoot your infrastructure, to provisioning storage with snapshots, recovery and replication, your wildest sci-fi dream has come true. In his session at @DevOpsSummit at 20th Cloud Expo, Dan Florea, Director of Product Management at Tintri, provided a ChatOps demo where you can talk to your storage and manage it from anywhere, through Slack and similar services with...
Most people haven’t heard the word, “gamification,” even though they probably, and perhaps unwittingly, participate in it every day. Gamification is “the process of adding games or game-like elements to something (as a task) so as to encourage participation.” Further, gamification is about bringing game mechanics – rules, constructs, processes, and methods – into the real world in an effort to engage people. In his session at @ThingsExpo, Robert Endo, owner and engagement manager of Intrepid D...
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
Michael Maximilien, better known as max or Dr. Max, is a computer scientist with IBM. At IBM Research Triangle Park, he was a principal engineer for the worldwide industry point-of-sale standard: JavaPOS. At IBM Research, some highlights include pioneering research on semantic Web services, mashups, and cloud computing, and platform-as-a-service. He joined the IBM Cloud Labs in 2014 and works closely with Pivotal Inc., to help make the Cloud Found the best PaaS.