LOS ANGELES, CA / ACCESSWIRE / June 24, 2019 / MCTC Holdings, Inc. (OTC PINK: MCTC) today updates investors on the new business model for the corporation based on its redirection into the cannabis sector and its pending name change to Cannabis Global, Inc. The reorganized operations will concentrate initially on three major growth areas of the cannabis marketplace: 1) California hemp cultivation, 2) Unique powdered cannabidiol (CBD) and Tetrahydrocannabinol (THC) centric cannabis beverages based on proprietary nano-emulsion technologies targeted at the mass consumer and California recreational markets, and 3) several unique cannabis centric intellectual property development and patents.
Management believes the Company holds a unique set of technologies, a vertically integrated supply chain, exceptional managerial skills, and established access to California cultivation, manufacturing and retail licenses that will allow it to move quickly into some of the fastest growing markets within the overall cannabis sector.
Hemp Cultivation - The Company is in the process of entering the hemp cultivation business via a cultivation operation in Riverside County, California. While hemp cultivation in states such as Colorado, Kentucky, and others, began in earnest last year, cultivation within California has lagged for various reasons, mainly permitting and licensing issues. Land preparation is already underway in conjunction with a landowner in possession of licenses and permits. Management believes there are several advantages of cultivating hemp at the chosen Southern California site, such as an extended growing season, optimal latitude location and most importantly, grandfather water rights with established high volume water wells. The Company plans to release additional information about the hemp cultivation operation over the coming weeks. CEO, Arman Tabatabaei, commented, 'Not only have we secured prime land with an abundant of water rights, we have also secured a highly experienced cultivation team that is already on site. With what we think is optimal weather for hemp cultivation and seeds with top-notch genetics, we plan on achieving a result that most hemp cultivators in North America will have a difficult time accomplishing - year round cultivation of high CBD hemp strains.'
Powdered CBD Centric Drinks - The Company plans to enter the market for powdered drink mixes that contain CBD and other non-psychoactive cannabinoids. The initial product launch will be for 'White Label' products produced for established cannabis brands and retailers. The powdered drink lines will be based on proprietary nano-emulsion technologies that almost completely masks the taste of cannabis and provides higher bioavailability compared to other infusion methods. The Company is planning an initial product launch with six product SKUs. The Company owns all of the necessary equipment and raw materials to manufacture sufficient inventory for a sizeable launch.
Powdered THC Drink Mixes for the California Recreational Market - The Company is planning a new line of powdered THC containing drink mixes to be manufactured and distributed under California's strict cannabis licensing and tracking regulations and protocols. The Company plans to manufacture the unique line of nano-infused beverages utilizing license already held by the Company team members through strategic partnerships and to distribute initially to licensed California dispensaries associated with these team members. The product lines will consist of multiple flavor types, including coffee and tea lines. Mr. Tabatabaei continued, 'The beverage industry is certainly about flavor and taste, but success is also significantly based on strong distribution. Within the California recreational cannabis marketplace there is another factor that must be considered - Licenses. We believe we not only have unique infusion technologies, but via our association with corporate directors Edward Manolos and Robert Hymers, we also have immediate access to California manufacturing and distribution licenses, and to an established set of licensed California dispensaries that are seeking innovative products. For these reasons, we believe we will be able to quickly enter this marketplace.'
Unique Cannabis Centric Intellectual Property - Members of the Company have developed several unique technologies in the area of cannabinoid delivery systems. The Company plans to seek protection of these technologies and inventions via patent filings. The research and development efforts relative to these inventions have centered on methods to infuse cannabinoids into foods and beverages, and to use non-food infusion systems to deliver cannabinoids to the human body.
'This new company will not only be product focused, but also technology and IP focused. Toward this goal, we have already retained experience patent counsel and we are in the advanced stages of drafting patent applications. We expect novel and proprietary cannabinoid delivery systems and several unique product formulations to be a major component of the Cannabis Global story. We will aggressively develop as much IP as possible in order to position ourselves as a key player in this emerging industry,' added CEO Tabatabaei.
The Company plans strict adherence to rules and regulations of the 2018 Farm Bill and strict adherence to all state and local laws and regulations.
About MCTC Holdings, Inc.
MCTC Holdings, Inc. is a Delaware registered publicly traded company. The Company was reorganized during June of 2019 and announced its intent to enter the fast growing cannabis sector and its intent to change its corporate identity to Cannabis Global, Inc. The Company is headed and managed by a group of highly experienced cannabis industry pioneers and entrepreneurs. More information on the Company can be viewed at www.CannabisGlobalinc.com.
For more information, please contact:
This news release contains 'forward-looking statements' which are not purely historical and may include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities and words such as 'anticipate', 'seek', intend', 'believe', 'estimate', 'expect', 'project', 'plan', or similar phrases may be deemed 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects, the future U.S. and global economies, the impact of competition, and the Company's reliance on existing regulations regarding the use and development of cannabis-based products. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-k, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission. For more information, please visit www.sec.gov.
SOURCE: Microchannel Technologies
View source version on accesswire.com: