USEI Purchases its First MRX 20L CO2 Extraction Unit to be Utilized in California's Legal Cannabis Industry
SANTA CLARITA, CA--(Marketwired - Nov 27, 2017) - USEI CANNABIS Initiatives CORP, a wholly owned subsidiary of US ENERGY INITIATIVES CORPORATION, INC. (OTC PINK: USEI) is a California based company is pleased to announce it has purchased its first MRX 20L Super-critical CO2 Botanical Extraction Unit to be used for the express purpose of participating in the California cannabis industry. On January 1, 2018, California (the largest black market for cannabis in the world) becomes the largest legal cannabis market in the world...with an estimated market of approximately $6.8 billion dollars. This unit is the first of many that will be procured in 2018 to help provide our California's industry with this vital extracted resource...that is contained in a wide range of cannabis products. This oil is the most significant product produced in this legal industry...and the most profitable sector of this industry.
According to Anthony Miller, CEO, "we have just raised over $220,000 in capital to begin our new venture, a strategic partnership with certain cannabis acute investors and USEI is the majority partner and USEI's management and staff will operate the venture on a daily-basis in the Los Angeles area. We have gone to great lengths to develop a venture for the Company that is not dilutive to the share structure of USEI...we have had many offers for capital that would have flooded billions of additional shares of stock into the marketplace; and we resisted that urge to procure capital that would have dramatically increased our share structure.
"Two weeks ago, we purchased our first MRX 20 Liter Supercritical CO2 Xtractor and our goal is to acquire 2 more units in 2018. These devices require 9-18 pounds of cannabis daily (500 pounds per month) and we plan to place the second unit on line in January or February or, as soon as, we can secure a supply chain of feed-stock. Management will examine acquiring a 100 Liter unit if sufficient feedstock and the demand requires it. The MRX technology is arguably the best available cannabis extraction device on the planet, extracting the highest yield per pound and the best quality cannabis oil and clients have won many 'Cannabis Cup' awards for quality over the past few years."
Note: MRX has dozens of these units in the legal states of Colorado, Oregon, Washington and now California and based upon those operations (and revenue models) USEI is projecting that it will produce approximately $5.4 million dollars in revenue in 2018. We have a business plan that will also include cannabis extraction using hydrocarbon techniques, so collectively we intend to produce wax, shatter, CO2 oil, hash, pure THC, CBD, BHO and RSO. This venture will fund our future growth strategy however, when we take additional capital, it will be used to enhance our operations; and it will not be detrimental to our current share structure. California has an enormous demand for extracted products and the demand is projected to grow each year that there is recreational cannabis. Along with this production equipment, we intend to procure a significant amount of post-production equipment which allows us to produce a finished product of the highest quality. Our goal is to be known as a company that produces the highest quality product and our goal is to be mentored by many of the successful MRX clients that have been doing this for years. This venture is designed to be replicated in every state that seeks to sell legal cannabis.
"This is a venture that we have been working on for many years...We have been waiting with anticipation for California to become legal for recreational cannabis...The time has come for USEI to become a strong participant in this industry; and that is our goal. In the next 2 to 3 months, we are projecting to report at least 10 milestones that will be significant to our overall success and each should be memorized by a press release...As many of you know, I only put out press of significant milestones and we have many coming. Additional information about the MRX technology can be found at http://mrxxtractors.com/, and our website www.useicannabis.com/web or our Facebook page...
"Without a doubt this is a significant milestone for USEI and it is only the beginning of what we have in store for 2018; also noteworthy is that this device is slated for delivery to us before Christmas. Because of this fact we plan to begin cannabis production with our extractor in 2017; and we are actively working on obtaining provisional licenses to begin our operation next month once our unit arrives. I want to thank those investors who have diligently hung in there while we had been working behind the scenes to make this venture come to life... and we hope that our good work will become beneficial to you all. Thanks again; finally," commented Miller.
About U.S. Energy Initiatives: U.S. Energy Initiatives Corporation (OTC PINK: USEI) is a diverse energy firm. USEI, and its wholly owned subsidiary, USEI Cannabis, business' center on hemp to energy, everything cannabis related and developing products and services for the marketplace. Our Ultimate Cure & Real McCoy Genuine Products: we market vapor pens and accessories, topical ointments, cannabis oils and tinctures all under these same names. Our goal here is to become an environmentally responsible firm, marketing our products to our audience to produce significant revenue and add value for our shareholders. We have very ambitious goals and objectives for USEI Cannabis and we believe that we will have a very long presence in Washington, Oregon, California and wherever cannabis is legal. Our objective is to create a foundation that will be instrumental in our continued efforts to capture our market-share and create viable products that meet our goals and objectives for these markets. For more information regarding our strategies it can be found on the company's website @ www.useicannabis.com/web/.
DISCLOSURES: "Safe Harbor" This press release contains forward-looking statements including statements regarding the timing of the revenue from the partnership and the partnership's success. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include consumer reaction to our Cannabis products and new regulations which affect the distribution of these products. Further information on our risk factors is contained in our filings with the OTC Markets. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.