Commercial Production - News
Captiva Verde starts commercial organic farming in U.S. Ticker Symbol: C:VEG Captiva Verde starts commercial organic farming in U.S. Captiva Verde Industries Ltd (C:VEG) Shares Issued 19,492,229 Last Close VEG.H 5/9/2014 $0.42 Monday May 12 2014 - News Release Mr. Jeff Ciachurski reports CAPTIVA VERDE INDUSTRIES LTD. ANNOUNCES COMMENCEMENT OF COMMERCIAL FARMING OPERATIONS AND RECEIPT OF FINAL PAYMENT FROM ICE RIVER SPRINGS WATER CO. INC. Captiva Verde Industries Ltd. has commenced large-scale commercial organic farming operations in the United States. The first harvest is anticipated at the end of this month, and production revenues from the first crop will be announced at the completion of the first harvest. Based on our strategic farm plan at various locations in the southwest United States, the Company anticipates seven (7) crops per calendar year. The Company is also pleased to announce that it has received payment of $533,400 CDN for the second and final promissory note from Ice River Springs Water Co. Inc. on May 9, 2014. This completes all the terms of the Asset Purchase Agreement dated March 1, 2013 whereby the Company transferred substantially all of its assets of Arrowhead Springs Water Ltd. and the assignment of its trademarks. With the receipt of the final payment, the Company has $1.5 million CDN cash, no debt, minimal overhead and imminent significant cash flow from its current commercial organic farming operations. Jeff Ciachurski, CEO of Arrowhead states: "we are pleased to have commenced commercial organic farming operations in the United States. Captiva Verde plans to be a major supplier of organic leafy vegetables in North America. We look forward to the realization of our strategic farm plan and building a world-class organic farming company. We seek Safe Harbor. © 2014 Canjex Publishing Ltd.