PHOENIX, Oct. 25 2016 /PRNewswire/
-- (OTC-PINK: LBTD) Lotus Biotechnology Development,
Corp. is pleased to announce that the Company has entered into
an agreement with CBD SOCO to bring state-of-the-art pharmaceutical
marijuana to the thriving marketplace. Through the distribution of
a new emerging treatment integrated with organic products, the
Company strategizes to deliver proprietary CBD derived merchandise
to North American companies.
The Company has signed a Letter of Intent to own and operate an
advantageous young company in southern Colorado. MR. N.
Spears and Jessie Salyer will
be joining the team to help produce and process the Company's
Organic materials in new strands of CBD that are slated for sales
in 4 states with licensing in place. "We believe that through
integration with our materials that we have the potential to create
a highly advanced formula, possibly the best new strand of Medical
Marijuna and CBD oil being brought to market," stated: Michael Palethorpe, the Company's Chief
Executive Officer and President.
Due to the Company's rising success in the production of
specialty organic mechandise, Lotus Bio-Technologies has determined
that the timing on this acquisition has the potential to fuel
exponential growth for the Company. Revenues for the last two
quarters have revealed steady significant growth.
Based on the latest developments and the potential purchase of
assets from CBD SOCO, Lotus Bio-Technologies has strategized to
facilitate a new processing center in Eastern KY to produce and
manufacture all CBD Oils. Mr. Palethorpe continued: "Mr.
Spears, having many years of experience in Marijuana sector will
bring a wealth of knowledge to our company. We are very optimistic
about the lucrative nature of this transaction. We believe that the
Company is now very well positioned, securing a good niche in such
a quickly evolving industry."
The size of the market for legal marijuana in the United States is projected to grow to
$7.1 billion in 2016, according to a
report by New Frontier and ArcView Market Research. That represents
26% growth over the previous year, driven largely by adult
recreational sales of marijuana, according to research cited on
Forbes.com website.
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whether we are able to successfully fulfill our primary
requirements for cash. The Company's actual results may differ
significantly from the results projected in the forward-looking
statements. The Company assumes no obligation to update
forward-looking statements.
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SOURCE Lotus Biotechnology Development, Corp.