- Oops!Something went wrong.Please try again later.
Naples, Florida--(Newsfile Corp. - January 7, 2021) - Econic Crop Solutions Inc, a Division of ZA Group Inc. (OTC Pink: ZAAG) is pleased to announce the successful completion of its first pilot business venture with the Nosim's Group of the Samson Cree Nation in Central Alberta, Canada. Samson Cree Nation administers a land area of 50 square miles with a population of approximately 3500 residents.
Econic supplies and operates indoor farming modules to grow and extract cannabis products for domestic and export markets. This first $100,000 project, totally funded by Econic, was installed and commissioned at Samson on September 15, 2020.
The first harvest at this installation is planned for the end of January with expected revenue of $100,000 from the crop. Because of the success achieved, final discussions are underway to quadruple the number of grow pods at Samson in the short term with expectation for future expansion to 100 grow pods.
Brad Baptiste, spokesperson for the Nosim's Group of the Samson Cree Nation stated, "We are very excited about the future of this business venture with Econic. It is expected to bring a sustained economic boom to our community here in Central Alberta while utilizing our own people to support and fuel the growth. The training, employment and career development programs that arise from this venture will also attract further outside funding to expand additional possibilities within our reach. Our First Nations sovereign rights status provides significant business growth and development benefits including tax-free status."
Wade Eno, the CEO of Econic stated, "Profitability, while extremely important as a measure of business success, is only one vital component in determining long term viability. We are all excited about the financial results coming from our first harvest at Samson. This community has an extensive land base and sufficient human resources available such that it is realistic to say the sky is the limit, in terms of future potential."
John Morgan, President of ZA Group, stated, "As a management team, we are excited to see the solid foundation that Econics has built. In today's business climate, it is very unusual to see these financial results-profitability even at initial pilot stages. It demonstrates sound business strategies and strong partners to grow the business."
John Morgan President ZA Group, Inc. 10823 Tamiami Trail N Naples, FL 34108 Email: email@example.com Twitter: @ZAGroup_
SAFE HARBOR ACT:
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/71518