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Company also reports elimination yesterday of a convertible note causing recent downward pressure on their stock
Cali, Colombia, Oct. 17, 2019 (GLOBE NEWSWIRE) -- View Systems, Inc. ( VSYM ) announces their medical marijuana and hemp subsidiary, Sannabis S.A.S., has initiated a social enterprise through their sister foundation, Asociacion Comunitaria Taller Libre, to work with inmates of a maximum security prison to produce industrial hemp products while incarcerated. Their foundation has an agreement with a religious organization that went into effect this week to make high quality hemp goods to be sold into the local and international markets. Inmates from a maximum security prison located in a region previously plagued by drug violence and armed conflict will use non psychoactive hemp material provided by Sannabis to produce high quality goods to the specification of Sannabis’ buyers.
The industrial hemp products industry is expected to reach over US$ 13 Billion in the next few years. Sannabis plans to capture a piece of the pie offering their customers not only high quality products with high profit margins, but the opportunity to promote a social initiative in a region devastated by the illegal drug trade.
Yesterday the foundation enrolled the first 80 inmates that will make hemp products to be sold by Sannabis, who will provide all the raw material and machinery to make the finished goods. They have created a workshop to teach inmates techniques to produce high quality handmade hemp goods that will be marketed as a social enterprise throughout the World. Sannabis will be forging alliances with NGO’s, private industry, and fashion designers to boost distribution and continue creating employment for inmates and their families.
The first 80 inmates enrolled this week will work from prison with the collaboration from family members on the outside. Not only will inmates be paid for their work but they will also receive time off their sentence. This social initiative is designed to keep inmates productive while supporting their family with a decent wage while incarcerated, unlike programs in U.S. prisons which are akin to slave labor. With help from family members, these inmates can build a business that can be continued after being released reducing recidivism while giving them a purpose to strive to change their lives.
“We plan to announce agreements with major profit, non-profit, and philanthropic international organizations for the promotion, distribution, and sale of these products. We’re happy to have the support of the religious community to help steer Colombians away from the negative stereotype often associated with hemp and medical marijuana,” stated John Campo, President of View Systems, Inc. “ There are 120,000 inmates across 138 prisons in Colombia that, once we prove ourselves, we can grow into to make this social enterprise a success that can be duplicated elsewhere,” continued Mr. Campo.
View Systems, Inc. would also like to announce the last conversion yesterday into shares from a convertible note dated March 2019 that put downward pressure on their stock price in recent days. Upon review of the conversions and trades, the Company believes their stock was considerably oversold yesterday. This convertible note now has a Zero balance and no more shares can be converted from this note at this time.
About View Systems Inc.
View Systems Inc. provides security and surveillance products to law enforcement facilities such as correctional institutions as well as to government agencies, schools, courthouses, event and sports venues, the military and commercial businesses. View Systems' products are used by commercial businesses and residential consumers wishing to monitor their assets and limit their liability. For more information, visit www.viewsystems.com
View Systems Inc. (www.viewsystems.com) is the developer of the ViewScan Weapons Detection System, a Department of Homeland Security (DHS) sanctioned product used by law enforcement and correctional facilities, government agencies, schools, courthouses, special events, sports venues, military, and commercial businesses. View Systems acquired Colombian Cannabis company, Sannabis , to diversify into the burgeoning Cannabis industry with new management committed to continue developing their ViewScan Weapons Detection System in Colombia for the local and international market. View Systems intends to file for a name and symbol change in the near future, however, they will continue to develop their newly enhanced state of the art ViewScan products in Barranquilla, Colombia for the local and international markets.
ViewScan is installed at government agencies in Washington, DC and elsewhere, major school systems, correctional facilities, ports, and police stations around the world. View Scan has also been used at events where top security clearance is required for former Presidents. In this Market Survey Report commissioned by the U.S. Department of Homeland Security (DHS), ViewScan demonstrated more features than their top competitors, https://www.dhs.gov/sites/default/files/publications/WTMD-MSR_0614-508.pdf
View Systems, Inc.
John Campo, President/Chairman