OrgHarvest sets precedent as first cannabis cultivation company to receive Reg A approval from Securities and Exchange Commission
LAS VEGAS , April 02, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – OrgHarvest, Inc. (OTC: ORGH) (the “Company”) is pleased to announce it has received Regulation A approval for offerings of up to $20 million from the Securities and Exchange Commission (“SEC”). OrgHarvest is the first cannabis company to do so, setting a landmark precedent.
Marc Adesso, of the law firm Waller Lansden Dortch & Davis, LLP, says, “Our associates’ research has indicated that this is the first time in history that the SEC has qualified such a document filed by an issuer engaged in the cultivation of cannabis with no comments!”
The Company offers one share of common stock at 25 cents with one bonus share of restricted stock for a limited time in its self-registration.
OrgHarvest seeks to launch cannabis cultivation and production operations in Las Vegas, Nevada, employing a high-tech, 100,000-square-foot glass greenhouse imported from the Netherlands that has the capacity to produce 450 pounds of cannabis flower per week, enabling the Company to potentially gross over $60 million after its second year of operation.
The Company is focused on acquisition of and/or joint venturing with cannabis dispensaries as well as the production and distribution of cannabis flower with high THC values and oils used in manufacturing edibles, beverages and pharmaceuticals.
OrgHarvest’s competitive advantages include risk diversification through the approach of growing cannabis using a high-tech custom Dutch glasshouse manufactured in the Netherlands, which offers a unique combination of advantages unmatched by OrgHarvest’s competitors. Compared to other cannabis operations, the Company differentiates itself by offering a facility that can provide better quality flowers, pest-free flowers, and a stronger focus on developing strains and new products using exclusive patented technology.
Operational advantages of OrgHarvest’s production system include:
-- Increased production rate and volume efficiencies. -- Closed loop pressurized system. -- Zero waste through a UV water recirculation system. -- Odor remediation. -- Reduced production and maintenance costs. -- Lessened environmental health and safety concerns. -- Lowered environmental impact through use of solar and renewable energy power off the grid. -- Extensive third-party testing and verification. -- Efficient modern system improves production efficiencies, lowering pricing by as much as 50% and enabling operating costs that are as much as 80% lower than competitors. -- Provides “value-added” technology, allowing for increased production. -- Patent licenses for microbial disease prevention, ensuring safe, organic crops. -- Proven design, engineering and production team for sustained technological performance of the cannabis production system. -- Experienced business management team to implement the Company’s business strategy and objectives.
OrgHarvest’s management team and founders bring together unique and diverse backgrounds in terms of education, experience and expertise. Having an award-winning team behind OrgHarvest that is dedicated to strain development and organic production will be the key to producing high-quality THC flower. All of the products the Company distributes must first pass inspections conducted by independent third-party testing facilities followed by internal inspections before being delivered to end users.
The OrgHarvest management team has many years of combined business experience and is comprised of senior executives who each have a commendable track record in the technology industry. The Company’s management team includes Frank Celecia, president and CEO; Keith DeSanto, chief science officer/research and development; Carlos Calixto, COO; and Rick Snelson, master grower. The Company’s board of directors includes Frank Celecia, Dr. Dean Cohen, Dean Ruffridge and James Adams.
OrgHarvest offers an exceptional opportunity for investors interested in a unique combination of technology and an innovative business model targeting the recreational and medicinal cannabis market legal in Las Vegas, Nevada. The timing of the market and the strong demand provides a winning combination for success.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company’s SEC filings. These risks and uncertainties could cause the company’s actual results to differ materially from those indicated in the forward-looking statements.
Company Contact:OrgHarvest, Inc. Incline Village, NV email@example.com