VANCOUVER, Aug. 7, 2019 /CNW/ - Vapen MJ Ventures (OTCQX:VAPNF; CSE: VAPN) ("Vapen MJ") a fully integrated agricultural technology, services and property management company in the regulated cannabis industry, today announced a new partnership to create a vertically integrated supply chain for Hawaiian hemp production and formulation with Archipelago™ Ventures, the strategic joint venture with Legacy Ventures and Arcadia Biosciences.
Legacy brings growth capital and strategic advisory in Hawaiian and Asian markets, as well as access to Legacy's equity partner, Vapen CBD, a wholly owned subsidiary of Vapen MJ Ventures. As proven leader in extraction, product formulation and sales of cannabis oils and distillate products, Vapen CBD will be responsible for the construction and operation of Archipelago's Hawaiian hemp extraction facilities. These facilities will give farmers an opportunity to convert their operations into high-grade CBD hemp production, creating new sources of jobs and revenue on the islands. First sales of superior hemp extract are expected in late 2019, in line with regulatory guidelines.
Archipelago creates one vertically integrated supply chain, from seed to sale, to deliver superior hemp-derived CBD products. The joint venture combines Arcadia's extensive genetic expertise and resources with Legacy's proven experience in extraction and distribution. This partnership leverages Hawaii's unique geographic and climate advantages for growing hemp year-round and provides access to key international markets.
"Vapen MJ's strategy is to participate in beneficial profit-sharing arrangements like Archipelago where we can add strategic value and bring key operational expertise that supports the venture's success," commented Thai Nguyen, Founder and Chief Executive Officer of Vapen MJ Ventures. "Our long-term growth strategy is to build value through our proprietary channels as well as through partner channels that drive revenue growth, improve operational scale and increase shareholder value."
About Vapen MJ Ventures
Vapen MJ, through its wholly owned subsidiaries, currently operates in the US as an agricultural technology, services and property management company utilizing a full vertical integration business model to oversee and execute all aspects of cultivation, extraction, manufacturing (THC and CBD cartridges, concentrates, edibles), retail dispensary, and wholesale distribution of high margin Cannabis THC and Hemp CBD products under the Vapen Brand. Vapen MJ expansion plans include partnering with cannabis license holders and hemp farms in multiple states within the US.
About Legacy Ventures
Legacy Ventures Hawaii was formed by a small group of investors with deep ties to the Hawaiian Islands who are interested in pursuing opportunities in CBD hemp and helping farmers through its investments in science and technology. Through the recent addition of Vapen CBD as an equity partner, Legacy is developing world-class cGMP extraction facilities for the islands to deliver high-grade hemp extract for use in premium CBD products. Vapen CBD is a division of Vapen™ MJ Ventures, which is a publicly traded cannabis operator based in Phoenix and listed on the OTCQX: VAPNF, the Canadian Securities Exchange – CSE and the Frankfurt Stock Exchange.
Forward Looking Statements
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in Vapen MJ' periodic filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements related to future developments and the business and operations of Vapen MJ.
Although Vapen MJ has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; are engaged in activities currently considered illegal under U.S. Federal laws; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and adult-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. Because of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward looking statements in this news release are made as of the date of this release. Vapen MJ disclaims any intention or obligation to update or revise such information, except as required by applicable law, and Vapen MJ does not assume any liability for disclosure relating to any other company mentioned herein.
SOURCE Vapen MJ Ventures Corporation
For further information: Bob Brilon, President and CFO, T: 602-620-9725, [email protected]