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San Francisco, California, July 15, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”) is a holding company focused on opportunities in the cannabis space. The Company owns and operates a number of subsidiaries with multiple revenue streams. While acquisitions of companies in the hemp sector accelerate worldwide as industrial and consumer hemp/CBD markets develop, our Proscere Bioscience is the company’s division focused on the CBD industry. In addition, the company’s diversity includes other subsidiaries, such as Satel Group, a premier high-rise DirecTV provider for the financial commercial and residential metropolitan San Francisco Bay area, and Simlatus, a manufacturer of audio/video products that currently sells to DirecTV, CBS, Fox News and Warner Bros; announces its second Purchase Order to manufacture 6 Cold Water CBD/HEMP Extraction Systems in the amount of $4,320,000.
Richard Hylen, Chairman and CEO, stated, “We received another commercial purchase order from Brand House Ventures Inc. on July 10, 2019 to manufacture 6 Cold-Water CBD/HEMP Extraction Systems for one of their European customers in the amount of $4,320,000.”
Mr. Hylen further stated, “We are targeting the pharmaceutical markets. With twice as many citizens as the United State and Canada combined, Europe could become the world’s largest legal cannabis market over the next five years. The second edition of the European Cannabis Report – produced by London-based advisory group Prohibition Partners – suggests that with 12% of the continent’s 739 million people being either ‘irregular and intensive’ cannabis consumers, Europe’s annual overall marijuana market will reach 56.2 billion Euros ($66.8 billion); potential medical marijuana market will hit 35.7 billion Euros ($42.8 billion); potential recreational market value will reach 20.5 billion Euros ($24 billion); and the estimated hemp market will hit 48.9 million Euros ($57.2 billion). This is all without including the ancillary business and secondary market. The report notes that several European countries have passed medical marijuana legislation in the past couple of years, and there is a ‘50%’ chance a few countries could pass recreational laws in the next few years.”
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.
Contact: Richard Hylen, CEO Tel:(530) 205-3437