MARION, N.C., June 19, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Greene Concepts, Inc. (OTC: INKW) (greeneconcepts.com) ("Greene Concepts" or the "Company"), an emerging leader in the global scientifically formulated beverage industry, is pleased to update shareholders today of the nearly complete status of renovations at the company's recently acquired beverage and bottling facility. Greene Concepts anticipates a near term operations relaunch with pilot production runs debuting high margin specialty and enhanced beverages bound for the $93.68 billion global functional drinks market.
In February, the Company acquired the wholly-owned subsidiary, Mammoth Ventures, Inc., ("Mammoth Ventures") including Mammoth Ventures’ 60,000 sq. ft. beverage and bottling facility in Marion, NC. In preparation for an operations relaunch at the plant, a 30+ year veteran of the bottling industry was appointed plant manager to oversee all renovations, which are now nearly complete. A required regulatory inspection is now ready to be scheduled to certify full compliance with State and Federal law, including the Food and Drug Administration mandates for adherence to current good manufacturing practice (cGMP) and hazard assessments and critical control points (HACCP) guidelines as required by the Food Modernization and Safety Act (FSMA).
“Our plant manager has done a tremendous job moving us rapidly and confidently through the rebuilding process,” explained Karen Howard, CEO of Greene Concepts. “He has exceeded our expectations for compliance, quality and efficiency of plant operations, thus enabling us to produce products our clients and consumers can consume with confidence. As we prepare for the upcoming inspections, I am secure in our ability to meet the massive demand for quality, science-based, functional beverages that support health and well-being.”
Our directive was to bring the plant into better-than-new performance territory, establishing standards that both exceed federal and state requirements and reflect the level of professionalism of the company. Our plant manager and team have taken this facility above and beyond industry norms in terms of compliance, production capacity and large-volume performance. The whole facility has been scrubbed down and sanitized like a hospital. Palletizers and case stackers have been disassembled, reprogrammed, painted and refurbished. Belts and seals have been replaced, water lines flushed and tested, holding tanks and wells scrubbed, pH levels in supply lines calibrated to optimum levels, valves replaced in pumps and palletizers and depalletizers tested and retested.
“With operations running efficiently at our current capacity and the scientific expertise of our Advisory Board, we are positioned to enter the functional beverage market as a major contender,” says Howard. Industry expert BEVNET has noted that consumers want more than energy drinks, and are seeking solutions that increase mental acuity, promote sleep and relaxation and support overall health and wellness. Formulations are being created now using the science of botanicals, minerals and vitamins, and unique flavor palates to support consumer interests, including those with niche health and lifestyle interests. This includes development of hemp-derived CBD products, for which we are uniquely qualified to provide given our scientific and regulatory expertise and the requirements needed to successfully enter the market. The CBD market now stands at $1.01 trillion with forecasts calling for it to grow to $22 billion by 2022. Many analysts are calling for 20% or more of that growth to occur in the CBD infused beverage space.
Today, the bottling plant can produce roughly 92 million individual bottles per year, with room for expansion. “The opportunity here is crystal clear,” summarized Ms. Howard, “according to Grand View Research, Inc., the global functional drink market is anticipated to reach $93.68 billion this year, and we are fully prepared to meet market need, including demand for approved hemp products as regulatory barriers come down.” With a fully operational plant capable of producing seven million bottles a month, and supply chain relationships that enable high margin product, the company has the ability to be highly competitive to meet the needs of the retailers and distributors we are working with. All are thrilled to know that our regulatory inspection is now ready for scheduling and that a grand gala for the operations relaunch is being planned. It means that near term dates can now come into focus for orders and distribution contracts.
About Greene Concepts, Inc. and Mammoth Ventures Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly-owned subsidiary, Mammoth Ventures Inc., the Company has entered into the specialty beverage and bottling business.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Greene Concepts, Inc.
Investor Relations
info@mammothventuresinc.com
