BOSTON, MA / ACCESSWIRE / October 4, 2018 / Digital Utilities Ventures, Inc. (OTC PINK: DUTV) is pleased to announce it has entered into a strategic partnership with Lakota Tribal Cooperative, LLC. (LTC). LTC was created to become the largest grower of commercial hemp in the United States. Their ambitious plan includes the planting of 10,000 to 20,000 acres of hemp in the Spring of 2019. Under this agreement, DUTV will acquire 47.5% of Lakota Tribal Cooperative, LLC in exchange for an investment of up to $50 million.
"Digital is committed to working with the Lakota Tribal Cooperative to create jobs and revenue within the community," says Digital CEO Maurice Stone.
According to Stone, the investment will be used for all aspects of the operation from planting and harvesting, to the purchase or lease of heavy-duty tractors, harvesters, truck trailers, grain drills, dryers, pelletizers, irrigation equipment, buildings and building the extraction facility.
"We, along with the Lakota Tribal Cooperative, envision both short and long-term growth as the laws regarding industrial hemp evolve to reflect the reality what hemp means for producers and consumers, in the US and internationally," says Stone.
Hemp and its extracts are currently illegal at the Federal level, having been lumped together with marijuana as a Schedule 1 drug, along with Cocaine and Heroin. In reality, Hemp and its extracted CBD do not have the same psychoactive effect as the THC found in marijuana. In fact, many components of CBD counteract the "high" people get from THC. As a result, the attitudes and laws around Hemp and CBD are changing. Earlier this year the World Health Organization recommended Hemp and CBD be removed from the list of controlled substances in all nations.
The 2018 Farm Bill currently making its way through Congress, includes a provision to legalize Hemp and CBD in all 50 states. Businesses both on and off Wallstreet have been making moves in preparation for this seismic shift in the marketplace. In addition to the health benefits of CBD extracts, which include life changing medications for epileptics, and promising benefits for diabetics and those suffering from Parkinson's, industrial Hemp has application in over 25,000 products. The fastest growth market for Hemp is the Auto industry, from plastics to fabric, Hemp offers fabrication versatility rarely seen from a single raw materials source.
Based on current market conditions we anticipate generating approximately $90,000 gross revenues per acre based on harvesting 1,700 plants per acre, which translates to approximately 10-kilos of CBD distillate per acre. We anticipate NET income from the 2019 crop to be in excess of $400,000,000.
"Everyone is waiting on the Farm Bill," said Stone. "The current bill expired on September 30th and we hope to see a vote come through quickly. We anticipate more big news to come through on the heels of the changes in the law. Being able to cultivate interstate business will break the market wide open. DUTV has been working for the past year to be in a very strong position as this market evolves."
About Digital Utilities Ventures, Inc.
Digital Utilities Ventures has targeted the medical and recreational segments of the marijuana market. We have a concentration on Hemp and its 25,000 associated products. https://ministryofhemp.com/hemp/not-marijuana/. Our core product line is CBD and its medical derivatives and line extensions. CBD (Cannabidiol) - is a cannabis non-hallucinatory compound that has significant medical benefits for the treatment of a wide range of conditions such arthritis, diabetes, alcoholism, MS, chronic pain, schizophrenia, depression, antibiotic-resistant infections, epilepsy, opioids and other neurological disorders. Digital Utilities Ventures, Inc. is poised to become an industry innovator by developing an end-to-end supply chain approach to the legal cannabis and hemp markets. The Company's strategy is to develop through acquisitions and business development a vertically integrated business model that covers the entire spectrum of the CBD business from cultivation, through production, quality control and finally to distribution through dispensaries. https://www.hempbizjournal.com/size-of-us-hemp-industry-2017/
Forward Looking Statements
This press release includes statements that may constitute 'forward-looking' statements, usually containing the words 'believe,' 'estimate,' 'project,' 'expect' or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
SOURCE: Digital Utilities Ventures, Inc.
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