Boston, MA -- January 25, 2018 -- InvestorsHub
NewsWire -- Growprocess, Inc. ("Growprocess" or "the
Company"), a privately held Blockchain and cannabis compliance
advisory firm, is pleased to announce that the company is preparing
to launch its cannabis-derivative, commodity-backed token called
Phytocoin. The Company looks to raise up to $10 Million
through its Initial Coin Offering (ICO) anticipated to launch in
early 2018. Unlike a conventional ICO token, Phytocoin will
be backed by underlying assets in a strategy designed to cut down
on the inherent volatility and risk of a non-collateralized
token. According to the Company, a white paper detailing the
investment parameters will be available online within the coming 45
days.
Mr. Matt Hrovat, Chief Executive Officer of Growprocess,
commented, “As a company, we are moving rapidly to deploy our
growth strategy for 2018. We are securing a ten-acre estate
in Slovenia that currently has three acres of greenhouses.
This facility will be used for commercial hemp production and is
expected to be ready for the 2018 grow season commencing this
spring. Production is anticipated to yield approximately ten tons
of hemp flowers with a (B2C) value of $8-10 million dollars.
This production, and the underlying CBD oil, will form the initial
backbone of our tokenized offering. Moving ahead, we look to
double production for 2019. Our European CBD production will
then be combined with the anticipated license and future medical
cannabis production from South Africa, where our partner, Protext
Pharma, Inc. (TXTM), is operating, to further enhance the value of
our tokens.”
Mr. Hrovat added, “For the past several years, I have been
focused on building a successful CBD oil and edibles business
including gourmet CBD-infused chocolates, all under the Papilo™
brand name. We are currently looking to potentially roll that
business into Growprocess in order to fully integrate the business
and use the Slovenia estate for full CBD production, including oil
extraction and finished product, to supply the Company’s Papilo™
product line. Our goal for 2018-2019 is to expand our product
offerings and sales while also vertically integrating all aspects
of production to ensure quality and stability of supply for our
customers. The ICO proceeds will be used to bring us into full
production, from growing medical-grade hemp, to extraction, to
finished goods manufacture and packaging. We will also be
using a portion of the proceeds to fund the research and
development of Protext Pharma, who will be finishing the
development of a full-profile medical cannabis extract for
pharmaceutical applications. This extract is expected to include
the acid-form precursor cannabinoids THC-A and THC-B together with
the CBD precursors in a non-psychoactive complex. Pending
approval to commence operations from the South African government,
this medical cannabis production should commence in the first part
of 2018.”
The Company also released that, over the coming 30 days, they
will be finalizing the legal and marketing components of the ICO
while also building a team of ICO advisors to assist with the token
launch. “We want this offering to be seamless,” Mr. Hrovat
stated. “We believe strongly in the medical benefits of our
product and want Phytocoin to be reflective of this
dedication. For us, it is best to have all aspects of our
operations and the ICO in place, then move forward decisively so
that investors can have confidence in their management team and be
assured that we take seriously our role as stewards of not only
their investment but also the technology entrusted to our
care. The Company is anticipating announcing some of its ICO
advisors very soon, and next week I will be posting a video update
on social media discussing our plans and expectations for the next
90 days, leading into our launch of Phytocoin.”
About Growprocess:
Growprocess is developing a next generation of seed-to-sale
Blockchain ledger platform for the legal cannabis industry, as well
as a European-based CBD business. The Company’s platform will
enable growers and dispensaries to streamline their operations and
optimize their profit margins. Simultaneously, the Company seeks to
produce pharmaceutical-grade cannabis products backed by clinical
research.
For further information please visit:
http://growprocess.co https://twitter.com/growprocessco
About Protext Pharma, Inc.
Protext Pharma operates two wholly owned subsidiaries; Plandai
Biotechnology South Africa (Pty) Ltd. and Cannabis Biosciences,
Inc. The Company is engaged in the research, clinical testing
and commercialization of highly bioavailable botanical
products—all-natural ingredients formulated for pharmaceutical
applications and produced under pharma-grade conditions.
Please visit http://www.protextm.co for further
information.
Safe Harbor Statement
This release contains forward-looking statements that are based
upon current expectations or beliefs, as well as a number of
assumptions about future events. Although we believe that the
expectations reflected in the forward-looking statements and the
assumptions upon which they are based are reasonable, we can give
no assurance or guarantee that such expectations and assumptions
will prove to have been correct. Forward-looking statements are
generally identifiable by the use of words like "may," "will,"
"should," "could," "expect," "anticipate," "estimate," "believe,"
"intend," or "project" or the negative of these words or other
variations on these words or comparable terminology. The reader is
cautioned not to put undue reliance on these forward-looking
statements, as these statements are subject to numerous factors and
uncertainties, including but not limited to: adverse economic
conditions, competition, adverse federal, state and local
government regulation, international governmental regulation,
inadequate capital, inability to carry out research, development
and commercialization plans, loss or retirement of key executives
and other specific risks. To the extent that statements in this
press release are not strictly historical, including statements as
to revenue projections, business strategy, outlook, objectives,
future milestones, plans, intentions, goals, future financial
conditions, events conditioned on stockholder or other approval, or
otherwise as to future events, such statements are forward-looking,
and are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. The forward-looking
statements contained in this release are subject to certain risks
and uncertainties that could cause actual results to differ
materially from the statements made. The company disclaims any
obligation to update information contained in any forward-looking
statement. This press release shall not be deemed a general
solicitation.
Growprocess, Inc. info@growprocess.co