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DENVER, June 05, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is pleased to announce that the Company will be officially moving into its new 25,000 square-foot production facility in Denver, CO, on June 10, 2019.
Management notes that new equipment associated with outfitting the facility is being funded by a new financing agreement that is already in place. Equipment will arrive in the next forty-five (45) days. The Company anticipates a five-fold increase in total production levels in the first three months following delivery and installation.
As noted in the Company’s release dated May 20, 2019, the new facility will house primary production for the Company’s wholly-owned subsidiary, Infusionz, LLC (“CBD Infusionz”), a premium manufacturer of high-quality CBD products addressing a wide spectrum of market product niches in the CBD space.
“We are excited to get into the new facility, get organized, and ramp up operations,” commented DVLP CEO Stavros Triant. “This is a massive expansion of our overall production footprint, and we anticipate a correspondingly massive expansion in our growth rate and the value proposition we offer our shareholders. That represents a very strong position for the Company, particularly following passage of Colorado House Bill 1090 last month.”
The Company was excited to receive news of recent bills signed into law by Colorado Governor Jared Polis on May 29, following passage by state legislators in session. House Bill 1090 has particularly strong implications for investments in the Colorado Hemp, Cannabis, and CBD sector, as outlined in a recent piece in the Denver Business Journal. Specifically, the bill allows publicly traded companies to have cannabis licenses and enables more investments in the state’s cannabis industry by venture capitalists and other private equity firms by removing the limit of 15 out-of-state owners per cannabis company.
Mr. Triant continued, “When we acquired CBD Infusionz, the problem they were facing was too much demand and an inability to handle the pace of expansion. That’s the best problem to have in business when you have access to capital and an experienced management team. Colorado is extremely friendly to that mission. The next three months should be the start of a very fun ride.”
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. The Company is also developing a high-capacity, high-quality CBD extraction and production facility. In addition, through the website of its joint venture partner, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the Company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company’s filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company’s control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company’s current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes 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. The contents of any website referenced herein are not incorporated into this press release.
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