Converde Energy Inc. Formerly W2 Energy Inc. Receives Purchase Order and 20% Deposit from iKingdom Investments
November 24 2014 - 10:11AM
eTeligis
CAMBRIDGE, ON(Eteligis Inc.)
CAMBRIDGE, ON, Canada, via ETELIGIS INC., 11/24/2014 - -
Converde Energy Inc. formerly W2 Energy Inc. (OTC Pink: WTWO)
(PINKSHEETS: WTWO), is pleased to announce that it has received a
$250,000.00 USD purchase order and a 20% deposit to develop a
simultaneous grinding and extraction machine capable of extracting
products from hemp and cannabis plants. The company has entered
into a Memorandum of Understanding (MOU) with Delaware based
iKingdom Investments Inc., www.ikingdomii.com for the creation of a
Joint Venture (JV) that will specialize in the extraction of
Terpenes, Cannabinoids and Fatty Acids from Hemp/Cannabis Plants.
This system will differ from other extraction machines in the
market, as it will be able to remove the products from the plants
without high temperature or pressure. This method will allow the
active ingredients in the plants remain in a more natural state
without the extraction process denaturing the product.
The MOU stipulates that the newly formed JV will be relying
exclusively on WTWO for the supply of all the equipment and the
patented technology and support to accomplish the stated
objectives. iKingdom will provide the scientific team that will be
responsible for the ongoing research and development and production
of Medicinal products and Hemp/Cannabis bi products from the
extraction process.
The JV in addition of developing the various products, also
intends to promote the sale of equipment to other parties under
license. The licensing process will be designed to produce
additional revenues and allow us to grow rapidly, without the
requirement of large amounts of capital.
The equipment package for Phase 1 will be designed to process
100lbs per day. The equipment design is scalable and can be scaled
up or down depending on requirements.
Michael McLaren, CEO of Converde Energy Inc. states, "Here is
another example on how we can leverage our technologies into other
markets. The JV strategy allows us to access markets we normally
would not. By no means is Converde changing focus and entering into
the medical cannabis business but by using local partners who are
already in the business the company is able to capitalize on
revenues it previous would not have access to." He further stated,
"We are quite excited about the opportunity to work with IKingdom
on this very promising and worthy project. This initiative simply
validates our vision and the versatility of our patented technology
applications."
Dr. Gerry Bedore, CEO of iKingdom Investments states, "The joint
partnership between iKingdom Investments and Converde Energy is a
working alliance focused on advancing cannabinoid extraction
sciences. The work currently being done will enable the production
of cost effective extraction equipment for US and Global markets
that is scalable and provides for highly delineated, clean, and
pure cannabinoid extracts. iKingdom Investments looks forward to a
robust relationship with Converge Energy as we advance health and
wellness through cannabinoid sciences into the everyday lives of a
global community, creating an entirely new pantheon of products and
services as a result." He also stated, "Once our International
Patent is confirmed, we anticipate this technology to be a huge
seller for us as an export product."
For more information on Converde's latest technology and its
recent name change please go to www.w2energy.com
About Converde Energy
Inc.
Converde Energy Inc. develops renewable energy technologies and
applies it to new generation power systems. Specifically,
Converde's plasma assisted bio-mass to energy plants, utilizing the
state of the art technologies to produce green energy in both fuel
(sulfur free diesel) and electricity at the most efficient cost in
capital investment and production per/barrel, per/Megawatt.
Converde Energy Inc. has seasoned management, cutting edge
technology and owns a large technology portfolio of patents and
know-how that has been extensively validated and ready for
commercial production.
For more information on Converde Energy please see
www.w2energy.com
Safe Harbor
This release contains statements that constitute 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. These statements appear in a number of places
in this release and include all statements that are not statements
of historical fact regarding the intent, belief or current
expectations of W2 Energy, Inc., its directors or its officers with
respect to, among other things: (i) financing plans; (ii) trends
affecting its financial condition or results of operations; (iii)
growth strategy and operating strategy. The words "may," "would,"
"will," "expect," "estimate," "can," "believe," "potential" and
similar expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond W2
Energy, Inc.'s ability to control, and that actual results may
differ materially from those projected in the forward-looking
statements as a result of various factors. More information about
the potential factors that could affect the business and financial
results is and will be included in W2 Energy, Inc.'s filings with
the Securities and Exchange Commission.
CONTACT:
Converde Energy Inc.
Public and Shareholder Information
Email: ir@w2energy.com
SOURCE: Converde
Ene r gy
Inc.
Associated Documentation:
http://www.eteligis.com/ViewSubmission.aspx?submissionRequest=28558
- Link to submission on http://www.eteligis.com