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Anaheim, CA, June 01, 2021 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to produce high-quality, handcrafted and organically grown cannabis products for medical and recreational adult-use in California, today announced that its affiliate company Estrella River Farms (“ERF”) has received approval for its State license application for cannabis cultivation on historic Estrella Ranch in California.
Bill Hodson, CEO of LiveWire and Managing Member of Estrella River Farms states, “Today, we are pleased to announce that ERF received approval for its initial acreage of outdoor cannabis cultivation and officially creates the world’s first Estate Grown Weedery ™ - the cultivation of organically grown, hand-crafted cannabis on a family style farm.”
Estrella River Farms has received notification from CalCannabis Cultivation Licensing, a division of the California Department of Food and Agriculture that its State license application was approved for its location in Paso Robles California in the Central Coast of California.
Hodson continues, “This rigorous process took about 20 months to complete and is a major milestone in the execution of our long-term business plan and will allow us to accelerate the implementation of our unique and sustainable business model. Estrella River Farms is now at what I consider, the finish-start line and will have plants in the ground immediately following the County’s final walk-through inspection.”
Estrella River Farms applied for this first Medium-Outdoor license to be classified as Medicinal, because the State’s medical marijuana laws provide protection from Justice Department interference. As the legal environment continues to evolve, ERF will be in an ideal position to easily scale up cultivation to maximum capacity of the total available acreage, providing growth potential for years to come. The Company has already established multiple relationships with large distributors to enter into supply agreements, assuring immediate utilization of several well-established distribution channels.
Hodson adds, “The application and compliance process is complex and time consuming, but the staff at San Luis Obispo County has been great to work with, especially through the challenges of this past year’s pandemic. We assembled a great team of consultants with in-depth knowledge of extensive local water conservation, endangered species and numerous zoning laws necessary to navigate the requirements set forth by the County. We also have the added benefit of being guided by the most knowledgeable cannabis attorney in the State to interpret and comply with all local and State regulations.”
LiveWire plans to utilize the intense experience gathered in the legal and environmental maze of the California cannabis sector during the last two years to expand the business further beyond its current operation, when ready. Management will evaluate new real estate properties that may qualify to be permitted for additional production sites and consider strategic alliances and/or partnerships as viable under its strict operational rules. The Company will pursue this strategy in an economically responsible way, to further accelerate growth and generate solid revenue and increasing profits moving forward.
“Estrella Ranch was previously owned by the King of Morocco and later by the eldest grandson of William Randolph Hearst and is now considered the crown jewel of California cannabis properties, located in the heart of the Central Coast wine country - ideal for growing premium organic outdoor flower. The goal is for the crop and its branding to comply with, and be protected by, the CDFA’s Cannabis Appellations Program when their requirements are finalized,” Hodson concludes.
About LiveWire Ergogenics Inc.
The Company is focused on acquiring, managing, and licensing specialized “closed loop” turnkey cannabis real estate locations of fully compliant and permitted turnkey facilities to produce cannabis-based products and services in California and the state-wide distribution of these products. This includes the development and licensing of high-quality organic cannabinoid-based products and services and the creation of the high-quality "Estrella Weedery" brand. LiveWire Ergogenics does not produce, sell, or distribute products that are in violation of the United States Controlled Substance Act. For more information, please visit: LiveWireErgogenics.com
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release, the Company's Social Media postings and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
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