PORTLAND, OR--(Marketwired - Mar 27, 2014) - THE NOW CORPORATION (OTC: NWPN) (the "Company" or "NOW") announced it has entered into an agreement to provide power for joint venture with a family trust planning commercial hydroponics facility possibly named "THE GREEN ACRE INC" (TGA) in the state of Colorado to be built on a land package consisting 10,000 acres.
The NOW Corporation announced March 26th the company will be a viable partner in earning a 50% interest in this project growing HEMP and Medical Marijuana allowed under the Colorado State farm bill, the family trust has confirmed to The NOW Corporation first right of refusal on the full 10,000 acres.
One of the benefits of hydroponics is that it saves water; it uses as little as 1/20 the amount as a regular farm to produce the same amount of food. The water table can be impacted by water use and run-off of chemicals from farms, but hydroponics may minimize impact as well as having the advantage that water use and water returns are easier to measure and monitor. This can save the farmer money by allowing reduced water use and the ability to measure consequences to the land around a farm.
For the first time in over 60 years, the US Federal government has passed a bill that allows farmers to cultivate Hemp. Effective January 29, 2014, pursuant to the passage of the farm bill, the cultivation of industrial Hemp is legal on a Federal level thereby clearing the way for industrial Hemp pilot programs in states such as Colorado, Washington, California, Kentucky, Maine, Montana, North Dakota, Oregon, Vermont and West Virginia, where growing the plant is legal according to state law. Hemp is the common name for plants of the entire genus Cannabis. This term is often used to refer only to Cannabis strains cultivated for industrial (non-drug) use.
NOW will be attending the GLOBE 2014 Conference and Exhibition being held in Vancouver, British Columbia from March 26th, 2014 to March 28th, 2014 where its technology partner, SP Power Farm Group ("SPpf") will be showcasing the exoPOWER wind turbine. For the last 24 years, GLOBE has been at the forefront of new ideas and insights on business and sustainability. GLOBE has been instrumental in helping corporations understand and employ sustainability into their operations, influenced the international debate on climate change, and developed the global marketplace for environmental and energy technologies and services. GLOBE continues to draw the 'best and brightest' of the international sustainable business community, making it an utterly unsurpassed networking opportunity. Conference themes for GLOBE 2014 include The Changing Energy Landscape; Towards the Circular Economy; Food and Water Security; Responsible Resource Management; Clean Capitalism: Financing Sustainable Innovation; and Building Resilient Cities. GLOBE has lined up notable speakers including Jesse Berst, Chairman of the Smart Cities Council; Barbara Evaeus, Manager of Climate Communications for the World Wildlife Fund; and Amory Lovins, Co-Founder & Chief Scientist at Rocky Mountain Institute. We welcome all of our shareholders and investors to view the exoPOWER wind turbine technology at the GLOBE 2014.
Lastly, unaudited financial statements for the 12 months period ending December 31st 2011, December 31, 2012 and 9 months period ending September 30, 2013 have been prepared by the Company's management and are available to be viewed on NOW's website, www.thenowcorporation.net to qualify under the Securities Exchange Commission Fair Disclosure Regulation stating a company having a proper web site with contact information, news releases, detail on Companies projects, is informing shareholders and potential investors of all the activities of the Company to avoid any insider trading rule violations. The Company's management has filed with their lawyer Bauman & Associates Law Firm the unaudited financial statements and with the OTC Markets compliance division displaying the financial information as of March 20th 2014 and the Company will be supplying the attorney letter, also a yearend statement for 2013 ending 12/31/2013 in the very near future with OTC Markets. The Company has been advised by their auditor Anton & Chia A PCAOB and CPAB firm the audit statements for 2011, 2012, and the stub period ending September 30th 2013 have been completed and ready for submission to our company.
On behalf of the Board of Directors,
The NOW Corporation
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.