Welcome!

News Feed Item

Arcturus Growthstar Technologies Inc.: CEO Update to Shareholders

VANCOUVER, British Columbia, October 19, 2016 /PRNewswire/ --

Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus") (CSE: AGS) (OTC Pink: AGSTF) is pleased to provide the following update to its current and prospective Shareholders regarding the Company's recent activities relative to Arcturus' current lines of agricultural technology, cannabis based media and app platforms and its expansion into urban farming markets. This update also lays out Arcturus' plans for the immediate future, including the Company's first Shareholder Conference Call.

Arcturus is a British Columbia company focused on developing and marketing products in the consumer LED industry and in the Controlled Environment Agriculture ("CEA") industry through its online sales channels and web presence relative to its Scorpion LED & COB grow lights. Recently, Mr. Rob Huston, the head of the Company's LED division, won 1st place for the "Indica - Private Grower" category at Bio Cup Canada, the largest cannabis cup to ever take place in Canada by using the Company's Scorpion COB grow lights with off the shelf seeds. Five plants were grown legally using an MMAR patient license in a 4'x8' space, using 1500 watt total, consisting of 1 Scorpion 9x 525 watt and 3 Scorpion 5x 325 watt each. Mr. Huston's five plants were harvested at eight weeks and resulted in a 1.35-lb harvest.

Arcturus has had much success in the LED space, even prior to Mr. Huston's award, putting itself in a very good position ahead of medical marijuana legalization in Canada. Now that the Trudeau administration has signaled its plan for a complete legalized cannabis market, Arcturus is using its current lines of LED and CEA technologies to penetrate the market and aid in the growing number of licensed producers (LP's) building out their facilities.

With an eye beyond simply sales, the Company contracted with Mr. John Sweeney, formerly the vice president of operations for Tilray, one of Canada's biggest privately licensed cannabis producers owned by Privateer Holdings. Mr. Sweeney will spearhead the Company's professional consulting services in the area of "current Good Manufacturing practice" (cGMP), which provides for systems that assure proper design, monitoring, and control of manufacturing processes and facilities in support of mandates on the horizon.

The Company also engaged the services of CBO Financial, Inc. as its financial advisor with respect to New Market Tax Credits (NMTC) for a vertical farm project. The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. The NMTC program provides 20% to 25% of a project's cost in very flexible financing for projects located in low-income communities. CBO Financial helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities. Arcturus' partnership with CBO Financial is both shareholder and capital structure friendly in the sense that the draw of capital is non-dilutive in nature. Arcturus and CBO Financial are currently developing one vertical farming project together, but plan to work together on many more projects in the future.

On October 4, 2016, the Company closed on its transaction to acquire a large portfolio of revenue generating Apps and source code (the "App Portfolio"). This all-stock acquisition brings on a seasoned team of app developers, which instantly expands the Company's tech portfolio and positions Arcturus for rapid rollout of a suite of cannabis centric apps.  "As more and more states legalize the use of Cannabis we believe that more and more technology will be needed to manage the growth of consumers with apps being the centerpiece; be it delivery, discovery, customer acquisition, or eventually payment services," says Mikael Hovhannisyan the app manager.

The App Portfolio is currently producing revenue and is a consistent source of monthly income, as the App Portfolio's trailing 12-month EBITDA was USD $139,000 or CDN $183,000. Subsequent to closing on this transaction, the Company's new app team established a new mobile gaming division with the intent to put out 420 themed games, which will generate revenue through In App Purchases (IAP) as well as through ad impressions.

The Company is also pleased to announce that it has successfully raised $810,000 CDN due to the recent exercise of warrants by the Company's early investors.  The subject $0.15 warrants were part of a 2014 private placement and were exercised voluntarily by the warrant holders.

"We are excited at our positioning within the LED and CEA industries," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman.  "Through our selective, accretive technology acquisitions, we are able to generate revenue, which in turn allows us to develop vertical farms and ultimately build value for our Shareholders."

Arcturus would also like to take this opportunity to announce that the first Arcturus Shareholder Conference Call will be scheduled for early November 1, 2016. We invite all Shareholders to attend and to submit questions no later than Monday, October 31st at 5:00 p.m. EST.  Questions may be emailed to Arcturus' CEO and Chairman, William Gildea at [email protected].

For further information, contact William Gildea, Director, at 617.834.9467.

On behalf of the Board,

Arcturus Growthstar Technologies Inc.  

William Gildea, CEO & Chairman

About Arcturus 

The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land.  The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.

The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.

Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.  

This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.  Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions.  There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties.  We do not assume any obligation to update any forward-looking statements except as required under the applicable laws. 

Contact:  

William Gildea, Director, at 617.834.9467

SOURCE Arcturus Growthstar Technologies Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Why Federal cloud? What is in Federal Clouds and integrations? This session will identify the process and the FedRAMP initiative. But is it sufficient? What is the remedy for keeping abreast of cutting-edge technology? In his session at 21st Cloud Expo, Rasananda Behera will examine the proposed solutions: Private or public or hybrid cloud Responsible governing bodies How can we accomplish?
SYS-CON Events announced today that Cedexis will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Cedexis is the leader in data-driven enterprise global traffic management. Whether optimizing traffic through datacenters, clouds, CDNs, or any combination, Cedexis solutions drive quality and cost-effectiveness.
SYS-CON Events announced today that Suzuki Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Suzuki Inc. is a semiconductor-related business, including sales of consuming parts, parts repair, and maintenance for semiconductor manufacturing machines, etc. It is also a health care business providing experimental research for...
Cloud applications are seeing a deluge of requests to support the exploding advanced analytics market. “Open analytics” is the emerging strategy to deliver that data through an open data access layer, in the cloud, to be directly consumed by external analytics tools and popular programming languages. An increasing number of data engineers and data scientists use a variety of platforms and advanced analytics languages such as SAS, R, Python and Java, as well as frameworks such as Hadoop and Spark...
SYS-CON Events announced today that Ryobi Systems will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Ryobi Systems Co., Ltd., as an information service company, specialized in business support for local governments and medical industry. We are challenging to achive the precision farming with AI. For more information, visit http:...
SYS-CON Events announced today that Daiya Industry will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Daiya Industry specializes in orthotic support systems and assistive devices with pneumatic artificial muscles in order to contribute to an extended healthy life expectancy. For more information, please visit https://www.daiyak...
Cloud-based disaster recovery is critical to any production environment and is a high priority for many enterprise organizations today. Nearly 40% of organizations have had to execute their BCDR plan due to a service disruption in the past two years. Zerto on IBM Cloud offer VMware and Microsoft customers simple, automated recovery of on-premise VMware and Microsoft workloads to IBM Cloud data centers.
In his session at @ThingsExpo, Greg Gorman is the Director, IoT Developer Ecosystem, Watson IoT, will provide a short tutorial on Node-RED, a Node.js-based programming tool for wiring together hardware devices, APIs and online services in new and interesting ways. It provides a browser-based editor that makes it easy to wire together flows using a wide range of nodes in the palette that can be deployed to its runtime in a single-click. There is a large library of contributed nodes that help so...
SYS-CON Events announced today that mruby Forum will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. mruby is the lightweight implementation of the Ruby language. We introduce mruby and the mruby IoT framework that enhances development productivity. For more information, visit http://forum.mruby.org/.
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
SYS-CON Events announced today that SourceForge has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. SourceForge is the largest, most trusted destination for Open Source Software development, collaboration, discovery and download on the web serving over 32 million viewers, 150 million downloads and over 460,000 active development projects each and every month.
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
Today most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes significant work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reducti...