Loading, Please Wait...
AUSTIN, Texas, Feb. 12, 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 excited to announce significant progress toward the establishment of its new high-capacity CBD extraction and production facility in Colorado, including an approaching equipment order for a best-in-class supercritical CO2 extraction system (rather than an ethanol-based system) to drive the highest purity levels in end production.
“We are committed to driving the bus, not just riding on it,” noted DVLP CEO Stavros Triant. “We have the backing, the experience, and the operational know-how to assume a leadership position in the CBD extraction and production space. And we want to build this facility from the ground up to be the best of breed.”
Management expects the facility to be fully operational by Summer 2019. Machinery orders will be finalized within the next 90 days. Following a detailed comparative examination of high-quality, high-capacity supercritical CO2 CBD extraction machinery manufacturers, the Company has narrowed its search down to Isolate Extraction Systems and ExtraktLAB. A decision will be announced in due course.
Following the signing of the 2018 Farm Bill into law in December, estimates for growth in the CBD products market have increased yet again, pushing anticipated return on investment in CBD well above most all other consumer product niches in terms of growth, according to Brightfield analysts, who see total CBD sales swelling to $22B over the next 3 years.
“We have already put in place the pieces to verticalize the CBD boom in-house,” continued Mr. Triant. “We are about to launch our WheresCBD.com platform, which builds off our industry-leading WheresWeed.com platform. That will drive a network effect for the distribution footprint, which is the number one issue for CBD producers. We will already have that piece of the puzzle in place by the time we are churning out top-tier 99% pure CBD from our facility.”
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 the 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.
Press & Media Inquiries:
EHC Branding Agency