Latteno Applies for Colorado Optional Premises Cultivation (OPC) License
July License Approval Anticipated: Latteno Tenders Offer on $500K Denver Grow Warehouse
DENVER, CO--(Marketwired - Apr 25, 2014) - Latteno Food Corp. (OTC Pink: LATF) (PINKSHEETS: LATF) is pleased to announce that it has made formal application to the Colorado Department of Revenue, Medical Marijuana Enforcement Division for the State's Optional Premise Cultivation License (OPC). State regulations permit only a center licensee or an MMJ edible manufacturer can apply for the OPC. The MMJ Industry was legalized by popular vote supporting an Amendment to the Colorado Constitution allowing the use of marijuana within the confines of the State of Colorado.
The Company also is pleased to announce that, as the next step in its aggressive MMJ initiative, it has submitted formal Offer to Purchase a Denver Grow Warehouse valued at $500,000. It is anticipated that the closing will be within the next 30-60 days.
The acquisition of a Grow Warehouse represents and the formal Application for a Colorado OPC represents the Companies strategy of creating multiple revenue streams in each market it enters. Specific initiatives include the MMJ Delivery Service, MMJ Grower Warehouse facilities, MMJ Dispensaries and MMJ Evaluation Offices.
The Company had recently announced two MMJ Delivery and Customer list acquisitions under its newly created Rx Harvest Collectives banner; and negotiations are currently underway to expand this successful service across Southern California. Additionally, other centers, including Las Vegas, Denver and Washington State are being considered once the Company has its complimentary MMJ Evaluation Offices, and supply sources established.
Additionally, the very positive consumer reaction to the Company's the recently opened Medical Marijuana Evaluation office in Los Angeles, CA, has accelerated a second opening planned for Las Vegas, NV. This office will also be staffed by accredited Doctors who are authorized to evaluate, recommend state-issued MMJ cards to qualified residents. Latteno's MMJ Evaluation Service is expected to provide a continuing source of potential MMJ Delivery customers.
"The formal application for the OPC license and the planned acquisition of Grow Warehouse facilities in our new home of Denver represent a major step forward in the implementation of our aggressive business strategy," commented CEO Thu Le. "Our multiphase approach to creating complementary revenue streams is unique in the industry. We look forward to continued progress in all our operating units."
About Latteno Food Corp. (Latteno.com)
Latteno Food Corp. is an investment portfolio company that acquires food products, medical marijuana edibles and related products/services to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements. |
Thread abonnieren
