WESTMINSTER, CO--(Marketwired - Oct 24, 2014) - Cannabis Kinetics Corp. (OTCQB: CANK) ("Cannabis Kinetics" or the "Company"), an emerging fully integrated cannabis management company, is pleased to announce an agreement to supply Monarch brand Coco Coir growing medium to an established Colorado based retail and grow facility management company with multiple locations.
Cannabis Kinetics anticipates that it will supply between 1,000 and 1,500 bags of Monarch Coco Coir per month on an on-going basis to the purchaser, potentially generating approximately $250,000 in annualized revenue for the Company. The purchaser currently provides branding and fulfillment services to multiple retail outlets and growing facilities in the Denver area.
"This deal to provide an established retail operator and grow facility management company with a long-term supply of our Monarch brand of Coco Coir growing medium is an excellent example of the tangible synergies we are trying to create and leverage between our various businesses," commented Eric Hagen, CEO of Cannabis Kinetics Corp. "We are confident that in the near future we will continue to utilize our expanding network of contacts and expertise within the sector to develop and implement many new opportunities for Cannabis Kinetics in Colorado and in other states across the country."
Coco Coir is an all-natural growing medium made from ground coconut husks popular among commercial and home growers and other indoor and outdoor gardening operations. Cannabis Kinetics acquires, markets, and distributes the highest quality Coco Coir from India and Sri Lanka under its national Monarch brand.
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.
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, including whether Cannabis Kinetics Corp. will sell Coco Coir to the purchaser discussed in this press release or to others. 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.