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AUSTIN, Texas, Jan. 24, 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, issues the following letter to Shareholders from the CEO:
Dear Valued Shareholder,
I would like to begin by thanking our committed shareholders for your patience and support as we have navigated our transition over the past year. The result is beginning to bear the fruits of that labor in terms of monetization, but we wouldn’t have made it to this promising point without you!
Today, I want to give some more details about this opportunity and how we plan to act on it.
The prepotency of the situation should be obvious: because we have established powerful access to a distribution footprint defined by the organic growth of our marketing platform (Where’s Weed), we have already done much of the work involved in monetizing the production of a core consumable (CBD). In other words, going into the production side is really just another way to cash in. We see it as a basic responsibility to our shareholders to recognize and act on such opportunities.
As such, we started to explore this possibility last quarter, and finally decided to move on it this month: we will be establishing a first-class CBD extraction and production facility. Our ultimate goal is to establish a network of sites to cover regional distribution zones.
The first site has been identified and will be established in Colorado.
We are already working closely with two different equipment manufacturers, each of which has committed to working side-by-side with us in a hands-on process as we outfit our facility over the near term. Given the capacity of the extraction equipment we will be installing, we estimate total plant capacity to process between 150-175k lbs of dry hemp flower per year at the facility.
As noted, this opportunity springs from what we can now see as one of our most important strategic decisions over the past year: the acquisition of the Where’s Weed platform. The move has been a striking success. The Q4 revenue contribution from that platform alone is showing 180% in year-over-year growth. And the curve is accelerating.
Where’s Weed is a network. It grows through a traction process that is bolstered in terms of its viability as it gains in terms of nominal breadth. In other words, as any new partner is added, the next partner gets that much easier to find. It’s a classic network effect process. And it has provided us with the opportunity to expand vertically because it includes privileged access to partnered dispensaries as hubs.
So, the big news right now is that we are definitely expanding into CBD extraction and production, a site has been selected in Colorado, and negotiations with equipment suppliers are active and progressing well. At full capacity revenue estimates would be in the range of $25-35M.
We will update you as events progress from here.
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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