SILVERDALE, WA, April 08, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – CGrowth Capital, Inc. (OTC Pink: CGRA) (the "Company"), an alternative asset management and emerging growth markets company, is pleased to announce that it is entering the non-psychotropic cannabinoid market with lines of hemp CBD and CBG products (legal in all 50 states) to be sold online and at retail locations nationwide. The Company is also working with manufacturers on the wholesale distribution of highly sought-after distillates and isolates. Details of the developments, product launch, partnerships, and acquisitions will be unveiled to the public in the coming weeks.
"We are joining this industry as our partners have developed and continue to test and develop a solid line of hemp CBD and CBG products including edibles and oils for human use and consumption as well as pet friendly products. The chewies and tasty treats are healthy and have been given rave reviews nationwide," stated Bill Wright, CEO of CGrowth Capital. “This industry is booming, and we have what we believe are seasoned and proven professionals that have been brought together to head up our Sales Division and grow this aspect of our Company aggressively. New health benefits of CBG and CBD products are being discovered every week and the cannabinoid market is projected to exceed $50 Billion in sales by 2022. We are experiencing the next gold rush,” Wright concluded.
The Company continues to work in its existing markets and has provided the following guidance on those developments:
Real Estate: The Chewelah Properties / Eastern Washington property has a now proven tenant operator. The overall site is only operating at 15% capacity and the Company is working with funders to further develop the site and expand operations. The Company is looking towards federal legalization prior to making a move towards consolidation.
Additionally, the Company previously formed Frontier Real Estate Holdings, Inc. This was done for the specific purpose of the purchase and development of two major hospitality projects initially. The projects have been in pre-development and funding stage over the past year as the Company continues to work with debt and equity partners towards what is hoped to be an eventual groundbreaking.
Oil and Gas: Powder River Resources / West Salt Creek is the Company’s primary energy asset. A great deal of development work has gone into the West Salt Creek field and it is primed for further drilling and development. The Company has been working several months on the acquisition of royalty production in conjunction with the refinance and development of West Salt Creek. Concurrently, the Company has received strong interest from parties desiring to purchase in whole or in part the West Sale Creek field and is working towards the best possible outcome for bondholders and shareholders alike.
Previous drilling at the Tolero well site in Wyoming failed to produce initial results expected from engineering reports. The Company is determining the best course of action to take with respect to water content in the production and alternative pay zones for possible perforation prior to determining whether to turn back over to the land owner.
Bonds: CGrowth Capital Bond Ltd. notified Bondholders at the end of last year of the company’s intention to exercise an early redemption program. This was precipitated by notification from borrowers (including Powder River Resources) of their intention to pay off the underlying notes. Once a firm direction on either sale or refinance of the West Salt Creek asset is firmed up, the Company will be able to initiate the early redemption program. The bond company is considering a further 4th version of the bond in the future.
Additional information and resources regarding cannabinoids and non-psychotropic substances provided in the links to follow. Hemp CBD is not a controlled substance under the Controlled Substances Act and the 2014 Farm Bill.
About CGrowth Capital, Inc.:
CGrowth Capital, Inc. The Company continues to serve as an alternative asset management company for businesses and assets focused on all aspects of mining, minerals, exploration, commercial real estate, and emerging markets. The processing of metal ore mining, mineral and specialty rock extraction, as well as oil and gas production, are multi-billion dollar market opportunities which is capitalized on through processing, sales, contracting and licensing of assets. CGrowth Capital’s services and solutions are designed to assist land owners with monetizing undervalued assets by bringing commodities such as gold, silver, oil and gas, and dolomite to market. CGrowth Capital will focus on acquiring land assets, while also providing partners and affiliates with management services, capital, contract management and logistical services necessary for the successful execution of operations. Through wholly owned subsidiaries, the Company has begun to strategically leverage real estate assets for maximum value within newly developing industries currently underway in Washington State and across the United States.
For more information and updates about CGrowth Capital, visit their website or Facebook pages:
Statements about the Company's future expectations and all other statements in this press release other than historical facts, are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Securities Litigation Reform Act of 1995. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. The above information contains information relating to the Company that is based on the beliefs of the Company and/or its management as well as assumptions made by and information currently available to the Company or its management. When used in this document, the words "anticipate," "estimate," "expect," "intend," "plans," "projects," and similar expressions, as they relate to the Company or its management, are intended to identify forward-looking statements. Such statements reflect the current view of the Company regarding future events and are subject to certain risks, uncertainties and assumptions, including the risks and uncertainties noted. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove to be incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated, expected, intended or projected. In each instance, forward-looking information should be considered in light of the accompanying meaningful cautionary statements herein. Factors that could cause results to differ include, but are not limited to, successful performance of internal plans, the impact of competitive services and pricing and general economic risks and uncertainties. The Company disclaims any obligation to update or revise any forward-looking statements.
CGrowth Capital, Inc.