$HRDN .0004 DC Brands Signs First Contract to P
Post# of 29735
Posted On: 06/05/2014 9:03:23 AM
$HRDN .0004
DC Brands Signs First Contract to Provide Services to the Colorado Marijuana Industry
NEW YORK and DENVER, June 5, 2014 /PRNewswire/ -- DC Brands International, Inc. (OTCQB: HRDN) ("DC Brands" or the "Company"
is very excited to announce that it has signed a management services contract with Venture Investment Partners, LLC ("Ven", a Colorado based company that is targeting the Colorado marijuana industry. Ven is joining partnerships that currently hold two marijuana grow licenses, one marijuana laboratory license and most importantly, one aged medical marijuana license. These licenses allow them to apply for a recreational sales license in the very near future. DC Brands Green Investors, an 80% owned subsidiary of DC Brands, has been contracted by Ven to provide accounting, payroll, cash management and security services for all of its operations. Green has also committed to provide up to $500,000 of funding to Ven over the next six months.
The contract with Ven will vary over time based upon the amount of services and financing provided and will be analyzed and adjusted at least once a quarter. The initial contract is projected to net DC Brands Green Investors approximately 5% of the EBITA of all of Ven's operations. Our internal financial projections for these projects estimate that the revenue to DC Brands Green in the first three years could fall between $1.5 million and $2.75 million. The Company is looking to replicate this arrangement with multiple groups similarly situated in the industry.
Bob Armstrong, DC Brands' CEO and CFO stated, "We are very excited about this deal - not just because it is our first but because we took our time and found what I believe to be one of the strongest up and coming management teams in the Colorado marijuana industry, one with extensive business management, construction, engineering and multifaceted growing experience."
About DC Brands International, Inc.
DC Brands International, a publicly traded company under the ticker symbol (HRDN). On April 4, 2014, the Company announced that it intended to become a service provider to fully licensed Colorado medical and recreational marijuana businesses.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements are based on current expectations, estimates and projections made by management and include statements regarding the Company's new corporate focus and future plans, contract with Ven and the estimated revenue to be received by DC Brands Green. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements, such as our ability to implement successfully our new corporate plan, attract clients and necessary capital, the ability of Ven to successfully enter the market and the continued rapid growth of the local Colorado marijuana industry, that our financial projections are materially different from actual results, and the risk factors discussed in the Business and Management's Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov
SOURCE DC Brands International, Inc.
Source: PR Newswire (June 5, 2014 - 8:58 AM EDT)
News by QuoteMedia
DC Brands Signs First Contract to Provide Services to the Colorado Marijuana Industry
NEW YORK and DENVER, June 5, 2014 /PRNewswire/ -- DC Brands International, Inc. (OTCQB: HRDN) ("DC Brands" or the "Company"
is very excited to announce that it has signed a management services contract with Venture Investment Partners, LLC ("Ven", a Colorado based company that is targeting the Colorado marijuana industry. Ven is joining partnerships that currently hold two marijuana grow licenses, one marijuana laboratory license and most importantly, one aged medical marijuana license. These licenses allow them to apply for a recreational sales license in the very near future. DC Brands Green Investors, an 80% owned subsidiary of DC Brands, has been contracted by Ven to provide accounting, payroll, cash management and security services for all of its operations. Green has also committed to provide up to $500,000 of funding to Ven over the next six months. The contract with Ven will vary over time based upon the amount of services and financing provided and will be analyzed and adjusted at least once a quarter. The initial contract is projected to net DC Brands Green Investors approximately 5% of the EBITA of all of Ven's operations. Our internal financial projections for these projects estimate that the revenue to DC Brands Green in the first three years could fall between $1.5 million and $2.75 million. The Company is looking to replicate this arrangement with multiple groups similarly situated in the industry.
Bob Armstrong, DC Brands' CEO and CFO stated, "We are very excited about this deal - not just because it is our first but because we took our time and found what I believe to be one of the strongest up and coming management teams in the Colorado marijuana industry, one with extensive business management, construction, engineering and multifaceted growing experience."
About DC Brands International, Inc.
DC Brands International, a publicly traded company under the ticker symbol (HRDN). On April 4, 2014, the Company announced that it intended to become a service provider to fully licensed Colorado medical and recreational marijuana businesses.
Forward-Looking Statements
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as "anticipates," "expects," "intends," "plans," "believes," "seeks," "estimates," or variations of such words are intended to identify such forward-looking statements. The forward-looking statements are based on current expectations, estimates and projections made by management and include statements regarding the Company's new corporate focus and future plans, contract with Ven and the estimated revenue to be received by DC Brands Green. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements, such as our ability to implement successfully our new corporate plan, attract clients and necessary capital, the ability of Ven to successfully enter the market and the continued rapid growth of the local Colorado marijuana industry, that our financial projections are materially different from actual results, and the risk factors discussed in the Business and Management's Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov
SOURCE DC Brands International, Inc.
Source: PR Newswire (June 5, 2014 - 8:58 AM EDT)
News by QuoteMedia
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I'm in it to win it!
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
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