Simlatus Corporation (OTC Pink: SIML) operates as a diversified holding company with operations across the cannabis & CBD, broadcasting, and internet provider industries. Shares of the holding company are soaring 272%, through afternoon trading on Wednesday, April 3, 2019. Over the past month, Simlatus Corporation has seen average daily volume of 1.25 million shares. However, volume of 22.55 million shares or dollar volume of $541,200, has already exchanged hands during afternoon trading on Wednesday.
Shares of Simlatus Corporation are skyrocketing on Wednesday, after the company announced that its cannabis division, Proscere Bioscience, has entered into a $75 million, five-year distribution agreement with Brand House Ventures. The distribution agreement specifically pertains to the sale of company’s Cold-Water Cannabis/Hemp Extraction Systems across the United States. Here is the full press release detailing of the distribution agreement:
Simlatus Corporation Press Release;
San Francisco, California, April 03, 2019 (GLOBE NEWSWIRE) — via NEWMEDIAWIRE — Simlatus Corporation (OTC PINK:SIML) (“Simlatus” or the “Company”), the company announces that its Cannabis Division, Proscere Bioscience, has signed a 5-year distribution agreement with Brand House Ventures in value of $75M to sell its Cold-Water Cannabis/Hemp Extraction Systems in the USA.
On March 29, 2019, the Board of Directors approved the Company and its subsidiary, Proscere Bioscience Inc., to enter into an Exclusive Distribution Agreement with Brand House Ventures Inc. allowing the rights to sell the Cold-Water Cannabis/Hemp Extraction Systems within all of the United States. The term of the agreement is for five years with guaranteed minimal purchase orders of $15,000,000 per year and/or $75,000,000 over a five year period. Mike Mulder is the President of Brand House Ventures Inc., and the company was formed in 2010 as a sole proprietorship, and in 2014 was formed as a California S-Corporation. Today Brand House is a Holding Company for the distribution of a variety of products and technologies.
Proscere Bioscience manufactures and distributes commercial Cold-Water Cannabis/Hemp Extraction Systems. This advanced method and technology is highly effective in producing medical-grade product used to help people suffering with a wide range of ailments; from treating pain, inflammation, infections, sleep issues and mood disorders. The CBD is also proven to support the immune system, protects the brain and fights cancer. Proscere Bioscience’s commercial Cold-Water Cannabis/Hemp Extraction Systems are expected to yield $225M over the next 5 years, based upon expected growth and application.
Richard Hylen, Chairman and CEO, stated, “We are finalizing Europe and Canada for distribution of our Cold-Water Cannabis/Hemp Extraction Systems. We anticipate revenues in this quarter from our subsidiary, Proscere Bioscience, while continuing our revenues from Satel Group and Simlatus.”
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Source: SpotLight Growth Canabis
Simlatus Corporation (OTC Pink: SIML) Soars 272% After Cannabis Division Signs Five-Year, Million Distribution Agreement
SpotLight Growth Canabis