SPO Networks (SPOI) Cannabis Seed
SPOI recently announced it has sold out its initial harvest for its OG Kush genetic seed crop. Next Crop Due End Of September. The purchasers were from both the retail and commercial growers’ markets.
- 15,000 seeds will be delivered to retailers in the Company’s proprietary branded packaging;
- 5,000 seeds were purchased by a commercial grower; and
- Approximately 2,000 seeds are reserved for the Company’s greenhouse facility to grow flower to be sold at retail in its wholly-owned dispensary
On September 14, 2021, the Company announced it has engaged a premier groundwater and water resources consulting firm in Colorado to assist in the design and permitting of a water supply for a proposed 30 acre outdoor growth operation adjacent to the Company’s existing greenhouse facility.
Tom Smith Founder of Red Line and CEO of SPO Networks Inc. said: “With the extent of the demand we have seen for our seeds (and in anticipation for the demand of flower for our wholly owned dispensaries) we accelerated our growth schedule and decided we needed to add to our cultivation resources. Pending the permits required we hope that have the operation ready by late spring 2022.”
SPOI focused on finding ways to monetize assets and increase shareholder value and are actively exploring potential acquisitions and opportunities in diversified industries, including medical and recreational cannabis and genetic seed operations entity, with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities.
The substantial revenue recently reported provides a very positive outlook, further solidifying the strong fundamentals that we have crafted, as the Company continues with its expansion plans to increase shareholder value.”
The company recently reported filing shows that they have started to generate substantial revenues… $778,784 for the March to June time period… and have announced that they have added more revenue-producing assets after June 30.
SPO Networks (SPOI) Cannabis Seed
The company also has a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities.
The substantial revenue reported provides a very positive outlook, further solidifying the strong fundamentals that SPOI has as it continues with its expansion plans.
On August 3, 2021 / SPO Networks, Inc. (SPOI) announced that it added 65 Acre Landfill Site On the Heels Of Its Recent $4.1 Million Acquisition Of A Revenue Generating General Contracting & Demolition Company creates a solid foundation of long term recurring income.
The new division, Red Line Contractors, is a General Contractor specializing in demolition, utility, and asbestos remediation. Red Line had sales in excess of $4.1 million dollars in 2020 and expects an increase projected for 2021.
Rick Hall, the Company’s CFO said: ‘This acquisition aligns with SPO’s objective to invest in diverse industries and will fit nicely with our scrap metal business.’
‘This acquisition will allow us to take advantage of Synergies between the companies and allow me to focus on growing SPO Networks Inc. cannabis operations’ Tom Smith Founder of Red Line and CEO of SPO Networks Inc.
The Company already owned cultivation sites and has entered into a pre-order agreement to deliver its proprietary strain of certified cannabis seeds to a chain of 10 third-party dispensaries in Colorado.
The Company will be going Direct To Consumer (DTC) via its first wholly-owned retail dispensary to sell its proprietary brands.
SPO Networks (SPOI) Cannabis Seed
This acquisition is only our first of more to come as we plan to continue to increase our share of the U.S. legal recreational cannabis market, which is expected to reach $42 billion by 2026.[1] Industry reports show that the number of cannabis consumers is expected to grow in the United States so that by 2025 the country is projected to have close to 50 million cannabis consumers and we will take all steps to maximize our ability to reach those consumers.”
Tom Smith, the CEO, stated, “The acquisition of the dispensary in Trinidad, Colorado, requires us to submit the change of ownership applications to the Colorado Marijuana Enforcement Division for the Trinidad CO dispensary, which we have targeted to do by the end of July. We are looking forward to sharing the details of the purchase after the state confirms the change of ownership.”
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
FORWARD-LOOKING STATEMENTS:
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure
Contact:
www.spoinow.com
479-443-6000
info@spoinow.com
SOURCE: SPO Networks, Inc.
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