SANTA CLARITA, CA, Dec. 10, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – USEI CANNABIS INITIATIVES CORP, a wholly owned subsidiary of U.S. ENERGY INITIATIVES CORPORATION, INC. (OTC PINK: USEI) provides a status update regarding its cannabis operations and business plan for the first quarter of 2019 and beyond; management travels to MRX Xtractors this week to examine new ethanol extraction technology ahead of the execution of purchase orders and ensure our processes are seamless.
We kindly invite you to visit the link below for a more in-depth update on our company objectives, which will also include our Sumcoin venture this can be found at the following link:
According to Anthony K. Miller, CEO, “The Company has made tremendous strides assembling working capital, building its team, purchasing production equipment, strategies to grow cannabis, creating strategic partnerships, sourcing feed-stock, acquiring consultants, equipment training, and a host of other activities for its current and future cannabis venture. USEI has a slated goal to become a significant producer in the California cannabis marketplace and we believe that we will accomplish this goal.
“This year we have placed ourselves in position to begin significant operations in the first quarter of 2019. Management has applied for 4 cannabis licenses (micro business: mfg. /cult./ dist./ disp.) and it is managements goal to provide investors with another press release concerning some significant milestones rapidly occurring before the end of the year. This week management travels to Oregon to meet with MRX Extractors ahead of the execution of purchase orders for new technology. This technology has the capacity to produce at levels 10x more cannabis volume than the equipment we previously acquired (PO provides us with the ability to produce through distillation and pen filling and possibly isolate). Technology advancements have been changing rapidly in our industry, and it is our goal to be on the cutting edge of extraction. It is our opinion that ethanol extraction is the best available technology that will allow us to reach the production projections we have set in our business plan; and MRX and Capna are the ones we are evaluating. Last month we released a press regarding our crypto currency asset. Management is still looking at avenues to leverage this currency to be utilized in our business plan. This currency should have greater liquidity in the first or second quarter of 2019 and it our goal to utilize that to for growth above and beyond what we already have procured,” commented Miller.
About Sumcoin, (Summit Group Corp, a related broker spearheading Sumcoin’s efforts, Brent Hubbard) Mr. Hubbard states, “Sumcoin is the first mineable Index coin. This means the market price of SUM is based on an algorithm which tracks the market cap of the top 100 coins or tokens value in the global market. The first of its kind in the digital asset market space, we feel Sumcoin is the best store of value available in crypto. Because Sumcoin has lower volatility, we think SUM will be a must have for those in the space both currently and in the future. Looking forward, we see countries’ currencies digitizing and other large projects adding to the market which will be beneficial for the participants of SUM. We are in the process of bringing SUM to market through various exchange methods and expect our efforts to bear fruit by mid to late Q1."
About U.S. Energy Initiatives: U.S. Energy Initiatives Corporation (OTC PINK: USEI) is a diverse energy firm. USEI, and its wholly owned subsidiaries, business' centers on everything cannabis related developing products and services for the marketplace. Our brands Ultimate Cure & Real McCoy Genuine Products will market several products and accessories including topical ointments, oils and tinctures all under the same names. Our goal here is to become an environmentally responsible firm, marketing our products to consumers to produce significant revenue and add value for our shareholders. We have ambitious goals and objectives for USEI. We believe our presence in Washington, Oregon, California and other legal states we be symbolic to our goals/mission. Our objective is to create a foundation that will be instrumental in our continued efforts to capture our market-share and create viable products that will help our consumers and simultaneously help us meet our goals and objectives for these markets. For more information regarding our strategies it can be found on the company's website @ www.usenergyin.com..
DISCLOSURES: "Safe Harbor" This press release contains forward-looking statements including statements regarding the timing of the revenue from the partnership and the partnership's success. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include consumer reaction to our Cannabis products and new regulations which affect the distribution of these products. Further information on our risk factors is contained in our filings with the OTC Markets. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether because of new information, future developments or otherwise, except as may be required by law.
U.S. Energy Initiatives Corporation, Inc.
Ph: 866.411.8018 or 866 437-2824