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AUSTIN, Texas, Sept. 06, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis marketplace, is very excited to announce its acquisition of Where’s Weed (Layer Six Media LLC DBA “Wheres Weed”), and its primary asset, WheresWeed.com. Where’s Weed is a rapidly growing community-based online resource for cannabis consumers with a host of user-friendly services, including a sophisticated Mobile App with strong traction and powerful growth potential as the North American legal cannabis market continues to expand exponentially.
WheresWeed.com already has a large and growing reach, with over 2.9 million page views per month at present. In addition, the WheresWeed Mobile App has already been downloaded over 80K times.
DVLP CEO, Stavros Triant stated, “Where’s Weed is a perfect complementary piece of the puzzle for DVLP right now. The growth potential for this additional segment is enormous and will powerfully benefit from an infusion of capital. We will close the deal shortly, and I will update shareholders on the details of this extremely exciting new asset under our umbrella.”
Management believes the biggest winner in this process may be consumer resources such as Where’s Weed.
Mr. Triant continued, "We have been looking for the right vehicle to capitalize on the massive growth curve in the marijuana space. The huge flood of new growers and producers is likely to create oversupply in the near term, narrowing margins for major producers. However, this should actually increase the net number of new consumers in the marketplace, further reinforcing the enormous growth potential for hub service providers in the space that are situated on high-traffic internet real estate, which is exactly how we view the Where’s Weed property."
Management believes the acquisition will close within the next 10 days. Further details will follow.
About Where's Weed
Where's Weed is an American cannabis technology company known for connecting medical and recreational cannabis users with trusted local marijuana businesses in their communities. Where's Weed was founded in 2011. The company launched the Where's Weed Android app in 2014 and released the iOS version in 2015.
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. Through the website of its wholly owned subsidiary, 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.