WESTMINSTER, CO--(Marketwired - Sep 26, 2014) - Cannabis Kinetics Corp. (OTCQB: CANK) ("Cannabis Kinetics" or the "Company"), an emerging fully integrated cannabis management company, is pleased to announce that it has entered into an Exclusive Distribution Agreement with Ivory Coco International, LLC, a Colorado-based importer and supplier of Coco Coir, an all-natural soil additive utilized by indoor and outdoor gardening operations.
Eric Hagen, CEO of Cannabis Kinetics, commented, "Coco Coir has rapidly gained popularity and established itself among commercial and home marijuana growers as one of the best and most versatile growing mediums available on the market today. It can be used as a standalone growing medium or when mixed with soil, Coco Coir can reduce the water demands of plants by almost 30% while increasing overall crop yields. This exclusive global distribution agreement immediately positions Cannabis Kinetics with a well-established supply chain and should allow us to expand marketing, awareness, and sales of Coco Coir products across North America and eventually to other international markets."
The Exclusive Distribution Agreement, subject to certain terms and conditions, covers all Coco Coir and its related and associated products from Ivory Coco International for a term of five (5) years and renewable for a further two (2) five (5) year terms. Cannabis Kinetics anticipates establishing distribution and sales of Coco Coir products in select markets under the Company's recently established Monarch and Monarch America, Inc. global brands.
About Ivory Coco International, LLC
Ivory Coco International was founded in 2012 in response to the burgeoning demand in Colorado for a local supplier of high-quality high volume Coco Coir, which is rapidly gaining acceptance as one of the best and most versatile media for growers of all kinds. Coco Coir (washed and ground husks of the coconut seed) functions perfectly as a hydroponic grow medium, potting medium, or soil amendment. Ivory Coco International imports, prepares, stores, and distributes the highest quality Coco Coir acquired from established relationships with international suppliers in Africa, India, and Sri Lanka. Ivory Coco International is headquartered in Aurora, Colorado.
About Cannabis Kinetics Corp. (CANK)
Cannabis Kinetics is a fully integrated cannabis management company with an office location in the Westminster suburb of Denver, Colorado. Founded and managed by experienced marijuana industry professionals, the Company has targeted various opportunities in the Colorado marijuana marketplace with a focus on the management of recreational and medical marijuana retail dispensaries, the management of licensed marijuana cultivation facilities, production and distribution of hemp and marijuana infused food & beverage and ancillary products. Additionally, the Company will provide management of retail and wholesale operations for grow stores and intends to pursue additional business opportunities within manufacturing, equipment leasing, real estate, product licensing and distribution, and other strategic acquisitions. Cannabis Kinetics anticipates expanding this business model into other select marijuana friendly states.
Cannabis Kinetics files reports with the Securities & Exchange Commission on EDGAR and anticipates continuing to file such reports. The Company's filings can be viewed at www.sec.gov, including the Company's most recent Form 8-K filing describing the Company's business operations.
Additional information regarding the Company can also be found on its website at www.CannabisKinetics.com.
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Cannabis Kinetics Corp.'s filings with the Securities & Exchange Commission. As a reporting issuer with the Securities & Exchange Commission, Cannabis Kinetics Corp. files Quarterly and Annual Reports and other documents on EDGAR. We strongly urge all persons to read our filings at www.sec.gov, which are publicly available, in conjunction with this press release as we are in a highly regulated industry that requires thorough research prior to making any decision regarding a company, particularly an investment decision. In addition, such statements could be affected by risks and uncertainties related to Cannabis Kinetics Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified management representatives, (iv) competition, pricing and development difficulties, (v) ability to fully implement our business plan as a result of being a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. Cannabis Kinetics Corp. does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Cannabis Kinetics' expectations and estimates. Information on Cannabis Kinetics Corp.'s website does not constitute a part of this release.