Rye Brook, New York--(Newsfile Corp. - July 13, 2022) - Here To Serve Holding Corp. (OTC Pink: HTSC) (the "Company"), is pleased to announce the sale of farming rights under the Iowa hemp license of its wholly owned subsidiary, ICF Industries Inc., to an Iowa-based company, Agri-Dynamics, Inc., for a fee of $500,000.
The agreement required a payment of $500,000 in equity securities of Agri-Dynamics, Inc., which the Company has received, and calls for the Company to be paid 45% of all hemp profits for the term of the agreement. The agreement ends on December 31, 2027, or earlier if certain conditions are not met.
The Company's CEO, Paul Riss, said, "We seek to acquire and manage undervalued assets without incurring significant fixed overhead costs. Consequently, we have sold a portion of our hemp project, for a limited term, to a company with hemp expertise that can build a joint hemp project without us having to incur cash expenditures."
"We have also included in this project our affiliate, KRTL International Corp., a wholly owned subsidiary of KRTL Holding Group Inc., now known as QUEENCH, Inc. (OTC Pink: QENC)," continued Riss. "KRTL has expertise in hemp and psilocybin and will earn 10% of the profits in addition to $160,000 in equity securities."
About Here To Serve Holding Corp.
Here To Serve Holding Corp. maintains a portfolio of mineral properties and equity securities. Its subsidiary Fortune Nickel and Gold Inc. owns 182 mining cells in the Timmins mining camp in Ontario, Canada, which is highly prospective for battery-grade nickel along with gold and copper.
The subsidiary ICF Industries Inc. owns a diversified basket of minority positions in publicly traded equities. It received several of these equity positions in exchange for marketing and financial reporting services. It also owns a license to grow hemp.
ICF Industries Inc. also with affiliate KRTL Biotech. A doctor at KRTL Biotech has MFDS approval to study psilocybin in South Korea with its team of doctors, chemists, and researchers to give people new and improved ways to heal.
Please call Investor Relations with any questions at 855-4NICKEL (855-464-2535) extension 1.
This news release contains statements and information that, to the extent that they are not historical fact, may constitute "forward-looking information" within the meaning of applicable securities legislation. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives, or economic performance, or the assumption underlying any of the foregoing. In some cases, forward-looking statements can be identified by terms such as may, would, could, will, likely, except, anticipate, believe, intend, plan, forecast, project, estimate, outlook, or the negative thereof or other similar expressions concerning matters that are not historical facts. Examples of such statements include, but are not limited to, statements with respect to the objectives and business plans of the Company; ability to realize benefits from its recent corporate appointments; ability to retain its key personnel; the intention to grow the Company's business and operations; the competitive conditions of the industries in which the Company operates; and laws and any amendments thereto applicable to the Company. Forward-looking information is based on the assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, but which may prove to be incorrect. The material factors and assumptions used to develop the forward-looking information contained in this news release include, but are not limited to, key personnel and qualified employees continuing their involvement with the Company; and the Company's ability to secure financing on reasonable terms. Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information, including, without limitation, risks relating to the future business plans of the Company; risks that the Company will not be able to retain its key personnel; risks that the Company will not be able to secure financing on reasonable terms or at all, as well as all of the other risks as described in the Company's periodic disclosure statements. Accordingly, readers should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made. New factors emerge from time to time, and it is not possible for the Company's management to predict all of such factors and to assess in advance the impact of each such factor on the Company's business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information. The Company does not undertake any obligation to update any forward-looking information to reflect information or events after the date on which it is made or to reflect the occurrence of unanticipated events, except as required by law, including securities laws.
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