Palm Coast, FL, March 27, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- XYZ Hemp Inc. (OTC Pink: GRPS) and RushNet, Inc. (OTC Pink: RSHN) jointly announce XYZ Hemp Inc.’s acquisition of New Earth Development Corporation (New Earth), with a significant profit participation by RushNet Inc.
New Earth’s focus will be Large Scaled Carbon Farming and the Production of Nano Superconductors and High Performance Materials through the growing of a carefully tested and specially selected strain of hemp.
With its team of agricultural scientists, New Earth is cultivating a low CBD/THC cultivar, high in fiber and active carbon. The team of engineers and technology partners has more than 20 years experience in biofuel, high performance composites and bio-chemical engineering. And the team is now implementing the most efficacious design to best harness and extract the biofuels from these cultivars.
New Earth’s CEO, Joshua Spooner was quoted: “We have the leaders in the industry and innovative technology, for clean, sustainable and efficient harnessing of this precious resource. With our relationships in China, Japan, in Manchester, UK and in Germany for Technology Transfer, we have designed the best equipment for the United States to convert bio waste into high performance carbon products. Given the superconductivity, being extremely lightweight, while also being the strongest materials known to mankind, its use is as unlimited as the demand.”
Mr. Spooner continued: “New Earth is extracting the Active Carbon from the cultivars at scale approximately 100m/t per day (phase I). We have the Leaders in Nano and Carbon Science on our team with more than 20 years of experience in research and development. Our principal products will be Nano Superconductors, Hemp Graphene and Active Carbon materials. Through our parent corporation (XYZ Hemp, Inc.) and RushNet, we have been in contact with The Environmental Protection Agency (EPA), the Department of Agriculture and the Department of Defense, seeking to fulfill their respective needs, while simultaneously seeking substantial grants in pursuit of this venture.”
Mr. Spooner added: “The particular active carbon materials and processes will be disclosed in the not-too-distant future. The superconductivity and the extreme strength of the Active Carbon Nano Materials has caught the attention of the Department of Defense. The rate at which the unique growth of the Hemp Plant Structures permanently stores carbon dioxide, reducing carbons within the atmosphere that piques the interest of the EPA, the value of which can be integrated into the EPA’s Carbon Sinks plan, consistent with a 2016 report. Our Mission is be the largest full scaled Bio chemical Hemp Technology Development in the World - Carbon Fiber and Structural Superconductor manufacturing. We will repeat this model throughout the United States in many states. We start in Arizona where we have identified our first growing and processing facility which will be a 500,000 acre grow operation to produce high output of fiber rich and hydro carbon-rich plant cultivars - approximately 22 tons per hectares. This will accompany a 500,000 square foot state of the art facility to process and produce our biomass and house our cultivating and manufacturing processes.”
Dr. Richard Goulding added, “We have confirmed with Leaders in Aerospace and Automotive industry the demand for our finished product. We will not disclose the names at this time.”
Forecasts will be provided in the not-too-distant future.
Other recently consummated acquisitions will also be announced shortly.
About RushNet, Inc.: RushNet, Inc. is an edibles and beverage based company with stand-alone products, including most enhanced with CBD. Currently, we have developed 12 Products that will take advantage of the natural and non-GMO grow, pristine mineral water enhancement and natural CBD.
About XYZ Hemp Inc., formerly Gold River Production Services, Inc.: XYZ Hemp is a top of the line medical CBD company. With innovative products targeting specific disease states as supplements, XYZ Hemp, along with RushNet, is poised to take CBD to the next level. With two of its top officials being not only medical doctors, but well-versed in the field of cannabis, a team of scientists and technical experts have joined forces to utilize all that CBD and Hemp has to offer.
About the joint venture between XYZ Hemp Inc. and RushNet, Inc.: This joint venture is a unique effort to secure all areas of hemp production from cultivation to extraction and retail with an emphasis on unique products and high-quality CBD. RushNet is more focused on product development, particularly edibles and beverages. XYZ Hemp addresses the more scientific elements of these pursuits, using the same formulations as nutraceuticals. Together, they are able to facilitate the vertical integration envisioned. Both are acquiring and joint venturing with companies in all aspects of the cannabis field as they jointly pursue a full integration cannabis and hemp business model.
Safe Harbor Statement: This release includes “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. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or similar words or expressions. Such statements are not a guarantee of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company’s ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company’s operating history and resources, economic, competitive, and equity market conditions.
CONTACT: RushNet, Inc.