Arcturus Growthstar Technologies Inc. $AGSTF News
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Posted On: 12/26/2016 5:21:47 AM
Arcturus Growthstar Technologies Inc. $AGSTF News
Last updated 12/26/2016 - 0.2256
Arcturus Signs Definitive Agreement to Acquire 15-Acres of Cannabis Zoned Land
Dec 15, 2016
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Arcturus Signs Definitive Agreement to Acquire 15-Acres of Cannabis Zoned Land
PR Newswire
VANCOUVER, British Columbia, December 15, 2016
VANCOUVER, British Columbia, December 15, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(OTCQB: AGSTF) (CSE: AGS) is pleased to announce that it has signed a Definitive Agreement ("the Contract" to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket."
"We are pleased to have reached this Contract to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "Florida's Legislature is beginning the process of figuring out how to implement Amendment 2, which expands the legalization of medical marijuana in Florida by allowing higher-strength marijuana to be used for a wider list of medical ailments. With this 15-acre acquisition, Arcturus is positioning itself to be a part of Florida's cannabis market as it rolls out in 2017."
Amendment 2, which was approved by over 71% of Florida voters, will go into effect on Tuesday, Jan. 3, 2017. Florida's Department of Health has six months to set regulations for the issuance of identification cards, qualifications and standards of care givers and registration of medical marijuana treatment centers. The agency is expected to issue the first medical marijuana ID cards to patients by September 3, 2017.
With this acquisition and the previously announced 10-acre greenhouse acquisition near Orlando, Arcturus has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation.
This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami. Arcturus and its experienced team of operators, including John Sweeney, former VP of Operations for Tilray's 60,000-square foot Vancouver facility, is in a unique position as a Canadian based company because it is poised to quickly commence operations within the United States rather than potentially wait years to become a licensed producer under Canadian law.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact William Gildea, Director, at +1-617-834-9467.
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus Announces $500,000 Private Placement
Dec 09, 2016
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Arcturus Announces $500,000 Private Placement
PR Newswire
VANCOUVER, British Columbia, December 9, 2016
VANCOUVER, British Columbia, December 9, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus" (CSE: AGS) (OTCQB: AGSTF) announces that it is in the process of arranging a non-brokered private placement (the "Private Placement" to sell up to 2,000,000 units at a price of $0.25 per unit (the "Units" for gross proceeds of up to $500,000 (the "Offering". Each Unit consists of one common share and one-half share purchase warrant (a "Warrant". Each half Warrant will entitle the holder to purchase one additional common share at an exercise price $0.35 per share. The Warrants are exercisable for a period of twelve (12) months from date of issuance, however this period may be accelerated if the Company's share price is above $0.45 cents for ten (10) consecutive days. The Units are to be distributed to shareholders in accordance with applicable securities laws and Canadian Securities Exchange (the "CSE" policies.
Directors and Officers of Arcturus will participate in the Private Placement and the closing is expected to occur on or about December 23, 2016. The Units will be subject to a four (4) month plus one-day hold period from the date of closing of the Private Placement in accordance with applicable securities laws. The Company will pay to the finder: (i) a cash fee at the closing that is equal to 8% of the gross proceeds received by the Company from the sale of Units, from investors sourced by the finder; and (ii) issue finder's warrants exercisable for Units equal in number to 8% of the total number of all of the Units, from investors sourced by the Finder.
Closing of this Private Placement may be subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE.
The net proceeds from the Offering will be used for general working capital purposes. As previously announced, CBO Financial, Inc. ("CBO" will assist the Company with funding certain qualified vertical farming projects with a combination of New Market Tax Credits (NMTC) and debt. The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. CBO helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact William Gildea, Director, at +1-617-834-9467.
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus Announces 25,000-Sq Ft $5 Million "LED" Vertical Farming Project
Dec 08, 2016
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Arcturus Announces 25,000-Sq Ft $5 Million "LED" Vertical Farming Project
PR Newswire
VANCOUVER, British Columbia, December 8, 2016
VANCOUVER, British Columbia, December 8, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus" (OTCQB: AGSTF) (CSE: AGS.CN) is pleased to announce that it has partnered with CBO Financial, Inc. ("CBO" for the development and operation of a major "LED" vertical farm project in Baltimore, Maryland. Arcturus is also pleased to announce that it has concurrently signed a Letter of Intent ("LOI" to lease 25,000-sq ft of commercial shell space from Volunteers of America Chesapeake to accommodate the Baltimore farm.
Volunteers of America Chesapeake ("VOAC", one of the largest and most respected nonprofits in the region, owns a building in Baltimore, MD that will undergo additional improvements to accommodate Arcturus' Controlled Environment Agriculture ("CEA" technology, which uses LED lights to grow plants on vertically stacked levels. As a partner in this indoor farm, VOAC has agreed to contribute generous rent concessions to Arcturus. The farm will be co-located in a residential reentry center, which helps ex-offenders reenter society and the workforce after serving federal prison sentences. The farm will provide job training and therapeutic opportunities for VOAC's residents. Arcturus, CBO and VOAC intend to use this Baltimore model to expand the Company's CEA technology and training and therapeutic programs developed by VOAC into other markets throughout the United States.
Arcturus previously announced that CBO would act as the Company's financial advisor with respect to New Market Tax Credits (NMTC) for certain vertical farming projects. As part of this Baltimore farm transaction, CBO Financial will be arranging for $5,000,000 in NMTC based financing. CBO will also plan, co-finance, and perform day-to-day operations at the farm, and Arcturus will provide the system design, off-take agreements, co-finance, and offer ongoing O&M support. The Baltimore Farm is expected to be a showcase for Arcturus' LED horticulture lighting technology and the first of many projects that CBO and the Company will work on together in collaboration with Volunteers of America Chesapeake.
The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. CBO Financial helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities.
"We are pleased to have partnered with CBO Financial and Volunteers of America Chesapeake on this project and believe that its success will be a bellwether for public private partnerships within the urban farming industry," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "With Volunteers of America Chesapeake's diversified real estate holdings, CBO Financial's experience in community development and expertise in navigating the NMTC process and Arcturus's CEA technology, this is a perfect partnership. Our goal was always to create impactful social and corporate programs that are mutually beneficial for all involved, from the community, to the company and our shareholders. Partnering with Volunteers of America Chesapeake and CBO Financial puts us in the position to achieve that goal. We hope this is the first of many joint-projects for our companies."
"We are delighted to be involved with this project, which produces fresh food and quality jobs in a low income community and provides job training and therapy opportunities for VOAC residents. We expect this to be a prototype for future, profitable commercial scale projects that include social service oriented job training and therapeutic programs," says Craig Stanley, CEO of CBO Financial.
"Volunteers of America Chesapeake has been supporting and providing resources for the ex-offender community for over 35 years in Baltimore, Maryland," says Russell Snyder, CEO of VOAC. "We are committed to help the residents of our residential reentry center gain job skills and employment opportunities through social enterprise opportunities like vertical farming and we are pleased to partner with Arcturus and CBO Financial in this innovative project."
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact William Gildea, Director, at +1-617-834-9467.
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus led Canada Division Receives new Purchase Orders and Begins ETL Certification for its Award-winning Cannabis Grow Lights
Dec 06, 2016
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Arcturus led Canada Division Receives new Purchase Orders and Begins ETL Certification for its Award-winning Cannabis Grow Lights
PR Newswire
VANCOUVER, British Columbia, December 6, 2016
VANCOUVER, British Columbia, December 6, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (OTCQB: AGSTF) (CSE: AGS.CN) (the "Company" or "Arcturus" is pleased to announce that its LED division, LED Canada, has received its largest purchase order to date from a 40-year-old Canadian chain of stores. This one customer positions LED Canada, a wholly-owned Arcturus division, to potentially generate over $1,000,000 in business in 2017. Arcturus' LED Canada and COB Grow Lights divisions offer a wide variety of cutting-edge LED lights for commercial, municipal, and home applications as well as greenhouse and indoor cultivation of legal cannabis.
According to LEDInside: LED Lighting Market to reach US$30.5 Billion in 2016 and Professional Lighting Markets to see explosive growth.
"Our LED business is gaining more traction in the marketplace due to many factors that we suspect are related to the scaling of cultivation centers for both the cannabis and urban farming sectors. On a daily basis, we have seen an increase in inquiries since November 8th, which is exciting given our LED division is vital to cultivation expansion in North America," said Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This month, the Company shipped its largest single order to a single commercial customer, which operates a chain with 200 locations. The customer is currently testing the LED lighting in key markets and structuring a rollout to its other locations throughout Canada."
About Chip On Board (COB):
LEDs compete with traditional lighting sources in a number of ways, including greater energy efficiency, longer lifetime, and smaller size. However, the one drawback that has vexed many lighting designers is cost, which is a key reason why LED manufacturers continue to innovate to improve economies of scale. One of the newest packaging solutions designed to help lower costs is Chip on Board ("COB" light source modules, in which the LED chips are in the form of a semiconductor chip that is neither encased nor connected but directly mounted onto a PCB or, more generally, a substrate. This packaging style also provides several related benefits, such as greater design flexibility, better light distribution, and simpler manufacturing processes.
Arcturus believes that its Scorpion COB LED Grow lights has the best LED technology to grow legal cannabis on the market and can offer its lights at the best price as compared to its competitors, which gives it a distinct market advantage in the cannabis space. After Arcturus' own Rob Huston won 1st place in the Cannabis Cup using the Company's COB Grow lights, the Company is moving forward with ETL certification (a product bearing the ETL Listed mark is determined to have met the minimum requirements of prescribed product safety standards), after which it will be beefing up sales and marketing efforts throughout Canada and the Unites States.
Arcturus' LED division reports that the month of November has been the best sales month to date. The Company is also pleased to announce that it is currently testing its COB Grow Lights through an academic study. This project will be a ANOVA of LED horticulture fixtures using IBM-SPSS statistical software. The Company is looking forward to continuing its momentum in 2017 with the rollout of new LED testing results, plus new sales and marketing initiatives.
"As we move towards a more aggressive sales and marketing push in the Cannabis space for 2017, these independent third party testings are critical to gaining more market acceptance of our LED grow lights," says Rob Huston, LED Canada's manager and winner of the Cannabis Cup. "In addition to third party testing, it is expected that the Company will be gaining ETL certification in the next 60 days, opening up the entire North American marketplace, which we believe will have a very positive effect on sales for Arcturus' COB Grow Lights and LED Canada's sales in 2017."
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact:
William Gildea
Director
+1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus to Acquire 15-Acres of Cannabis Zoned Land
Nov 15, 2016
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Arcturus to Acquire 15-Acres of Cannabis Zoned Land
PR Newswire
VANCOUVER, British Columbia, November 15, 2016
VANCOUVER, British Columbia, November 15, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (OTCQB: AGSTF) (CSE: AGS.CN) (the "Company" or "Arcturus" is pleased to announce that it has signed a Letter of Intent ("LOI" to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is primarily a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket."
"We are pleased to have reached this LOI to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This acquisition will be an all-stock deal and greatly adds to our geographic footprint and overall strategy in the state of Florida. With the recent passage of Amendment 2, an initiative which significantly broadens Florida's medical marijuana program, we want to be firmly established in the state and solidify our first mover advantage in one of the biggest potential cannabis markets in the United States."
With this acquisition and the previously announced 10-acre greenhouse acquisition near Orlando, Arcturus has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation.
This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami. Arcturus and its experienced team of operators, including John Sweeney, former VP of Operations for Tilray's 60,000-square foot Vancouver facility, is in a unique position as a Canadian based company because it is poised to quickly commence operations within the United States rather than potentially wait years to become a licensed producer under Canadian law.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact: William Gildea, Director, at +1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus to Acquire Established Florida Greenhouse Zoned for Medical Marijuana
Nov 07, 2016
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Arcturus to Acquire Established Florida Greenhouse Zoned for Medical Marijuana
PR Newswire
VANCOUVER, British Columbia, November 7, 2016
VANCOUVER, British Columbia, November 7, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus" (OTCQB: AGSTF) (CSE: AGS) is pleased to announce that it has signed a Letter of Intent ("LOI" to acquire a 10-acre operating greenhouse in Florida, which is in a designated zone to legally cultivate, process and dispense cannabis. The Greenhouse fits Florida's stringent criteria for agricultural farmers looking to manufacture Cannabis which, under the current law, applicants had to have been in business in Florida for at least 30 years and grow a minimum of 400,000 plants at the time they applied.
Image of greenhouse property: Aerial View
"This is a major milestone for Arcturus and positions us for tremendous growth for years to come," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "With this acquisition, Arcturus is potentially positioned as one of the public sectors first movers into Florida's cannabis market." Mr. Gildea continues, "This acquisition is in the designated legal grow zone with close proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location.
Shareholders will be excited to know that the farm is much more than a "Zoned for Cannabis" piece of land, but a fully operational greenhouse business already in full production. The greenhouse property, which has been family operated since 1959, currently grows ornamental plants sold in large box stores throughout North America. In the past 12 months, it has generated over $2,600,000 in revenue with EBITDA of over $400,000, which is expected to continue until Amendment 2 allows for the property to be converted for growing cannabis. Once fully licensed and operational, the property has the capacity to generate seven figures in revenue per month. In the interim we feel we can use our CEA technology to quadruple the current ornamental plant yields, thereby increasing both profit and revenue."
On November 8th, Floridians will vote on Amendment 2, which would broaden medical cannabis usage to individuals with "debilitating" medical conditions as certified by a licensed physician. It also would greatly expand the consumer base for the state's marijuana industry. Amendment Two on the Nov. 8 ballot in Florida would broaden medical cannabis usage to individuals with "debilitating" medical conditions certified by a licensed physician. It also would greatly expand the consumer base for the state's marijuana industry, which by some estimates would exceed 400,000 citizens.
"Florida stands to be one of the biggest medical marijuana markets, in North America," says John Sweeney, Arcturus board member and former Vice President of Operations at Tilray, a 60,000-sq. ft. cannabis grow operation in Vancouver. "With all the opportunities in the cannabis market, I am thrilled with our ability to acquire this Florida property and to be a part of this dynamic and growing company."
Measures to legalize recreational marijuana are on the November 8th ballot in five states this year: California, Nevada, Arizona, Maine and Massachusetts. Four other states - Florida, Arkansas, North Dakota and Montana - are considering initiatives to legalize medical marijuana, a move that some say is a first step towards full legalization.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact
William Gildea
Director
617.834.9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
ARCTURUS Begins CONSTRUCTION ROLL OUT For Rhode Island Urban Farm
Nov 02, 2016
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ARCTURUS Begins CONSTRUCTION ROLL OUT For Rhode Island Urban Farm
PR Newswire
VANCOUVER, British Columbia, November 2, 2016
VANCOUVER, British Columbia, November 2, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus" (CSE: AGS) (OTCQB: AGSTF) is pleased to announce that it has engaged the services of Mr. Jim Coull to begin design and construction work at its flagship farm in North Kingstown, Rhode Island. Mr. Coull offers commercial design-build, general contracting and preconstruction services to the cleanroom laboratory, advanced technology, education and healthcare industries. He is known for his highly technical construction and turnkey services, from planning and feasibility through architecture, engineering, general contracting and commissioning.
The Company plans to use the Rhode Island farm to showcase its proprietary scalable, indoor Controlled Environment Agriculture (CEA) technology, which allows it to produce crops more cost effectively than traditional farming methods, without the use of chemical pesticides, all while using 90% less water and fertilizer. Mr. Coull has experience with Arcturus' CEA technology, and even helped to refine the CEA system by creating greater efficiencies during growth trial phases.
"We are excited to have Jim Coull and his team of construction professionals on board with us in the development and construction of our Rhode Island farm, which can grow both leafy greens as well as cannabis," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "Mr. Coull's reputation for excellence and comprehensive construction management services will ensure our flagship farm's success."
Mr. Coull adds, "I am pleased to see this project is underway and look forward to help bring it to a successful conclusion. It will provide fresh organic produce to the Rhode Island Market on a one-day 'harvest to table' basis. CEA is the coming trend in the food production business, and is of particular importance here in New England where our growing season is very short."
Rhode Island is a small, but densely populated state with just over one million residents. Arcturus' farm will serve Rhode Island residents and the entire Northeast market where there is strong consumer demand for organic produce, and an opportunity to significantly reduce "food miles" associated with transporting produce from California and Arizona. The farm's proximity to numerous northeast routes will enable the farm to capitalize on many channels of distribution. Rhode Island also has Medical Marijuana laws that allow urban farms such as ours to make build out designated areas to cultivate cannabis for medical purposes.
For further information, contact William Gildea, Director, at +1-617-834-9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
ARCTURUS GROWTHSTAR TECHNOLOGIES INC.
#5-9079 Shaughnessy Street
Vancouver BC
V6P 6R9
For further information, contact William Gildea, Director, at +1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus Now Traded on U.S. OTCQB® Venture Market
Oct 26, 2016
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Arcturus Now Traded on U.S. OTCQB® Venture Market
PR Newswire
VANCOUVER, British Columbia, October 26, 2016
VANCOUVER, British Columbia, October 26, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus" (CSE: AGS) (OTCQB: AGSTF) is pleased to announce that, in addition to being listed on the Canadian Stock Exchange, it will now also be traded on the OTCQB® Venture Market. The OTCQB® Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must meet $0.01 bid test and may not be in bankruptcy.
"We are pleased to have the ability to immediately distribute Arcturus' information and bring greater transparency to a wider audience of U.S. investors, market data distributors, investment databases, media outlets, and broker-dealers," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "Being traded on the OTCQB will allow us to better connect with our shareholders by facilitating real-time delivery of information and news."
For further information, contact William Gildea, Director, at +1-617-834-9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact:
William Gildea, Director
+1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
OTC Markets Group Welcomes Newly Verified OTCQB Companies – October 26
Oct 26, 2016
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New York, NY -
OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the following companies are verified for trading on the OTCQB® Venture Market:
Arcturus Growthstar Technologies Inc. (CSE: AGS; OTCQB: AGSTF) – Arcturus Growthstar Technologies Inc. is rapidly becoming a leading indoor plant growth technology company specializing in LED lighting and vertical farming solutions. AGT's business model includes developing and acquiring technologies that will further its position as a leader in the evolving Controlled Environment Agriculture (CEA) market for the global production of various types of plants. The Company holds a worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
Blake Insomnia Therapeutics, Inc. (OTCQB: BKIT) – Blake Insomnia Therapeutics, Inc. is a New York-based pharmaceutical company devoted to improving nighttime and daytime quality of life for people with insomnia. The Company’s patent-pending compound, Zleepax (ZLX-1), has demonstrated efficacy without causing side effects which has been identified as the No. 1 problem with current sleep medications.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for these companies on www.otcmarkets.com.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
To learn more about how we create better informed and more efficient markets, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
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Copyright © 2016 OTC Markets. All Rights Reserved
Arcturus Growthstar Technologies Inc.: CEO Update to Shareholders
Oct 19, 2016
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Arcturus Growthstar Technologies Inc.: CEO Update to Shareholders
PR Newswire
VANCOUVER, British Columbia, October 19, 2016
VANCOUVER, British Columbia, October 19, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus" (CSE: AGS) (OTC Pink: AGSTF) is pleased to provide the following update to its current and prospective Shareholders regarding the Company's recent activities relative to Arcturus' current lines of agricultural technology, cannabis based media and app platforms and its expansion into urban farming markets. This update also lays out Arcturus' plans for the immediate future, including the Company's first Shareholder Conference Call.
Arcturus is a British Columbia company focused on developing and marketing products in the consumer LED industry and in the Controlled Environment Agriculture ("CEA" industry through its online sales channels and web presence relative to its Scorpion LED & COB grow lights. Recently, Mr. Rob Huston, the head of the Company's LED division, won 1st place for the "Indica - Private Grower" category at Bio Cup Canada, the largest cannabis cup to ever take place in Canada by using the Company's Scorpion COB grow lights with off the shelf seeds. Five plants were grown legally using an MMAR patient license in a 4'x8' space, using 1500 watt total, consisting of 1 Scorpion 9x 525 watt and 3 Scorpion 5x 325 watt each. Mr. Huston's five plants were harvested at eight weeks and resulted in a 1.35-lb harvest.
Arcturus has had much success in the LED space, even prior to Mr. Huston's award, putting itself in a very good position ahead of medical marijuana legalization in Canada. Now that the Trudeau administration has signaled its plan for a complete legalized cannabis market, Arcturus is using its current lines of LED and CEA technologies to penetrate the market and aid in the growing number of licensed producers (LP's) building out their facilities.
With an eye beyond simply sales, the Company contracted with Mr. John Sweeney, formerly the vice president of operations for Tilray, one of Canada's biggest privately licensed cannabis producers owned by Privateer Holdings. Mr. Sweeney will spearhead the Company's professional consulting services in the area of "current Good Manufacturing practice" (cGMP), which provides for systems that assure proper design, monitoring, and control of manufacturing processes and facilities in support of mandates on the horizon.
The Company also engaged the services of CBO Financial, Inc. as its financial advisor with respect to New Market Tax Credits (NMTC) for a vertical farm project. The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. The NMTC program provides 20% to 25% of a project's cost in very flexible financing for projects located in low-income communities. CBO Financial helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities. Arcturus' partnership with CBO Financial is both shareholder and capital structure friendly in the sense that the draw of capital is non-dilutive in nature. Arcturus and CBO Financial are currently developing one vertical farming project together, but plan to work together on many more projects in the future.
On October 4, 2016, the Company closed on its transaction to acquire a large portfolio of revenue generating Apps and source code (the "App Portfolio". This all-stock acquisition brings on a seasoned team of app developers, which instantly expands the Company's tech portfolio and positions Arcturus for rapid rollout of a suite of cannabis centric apps. "As more and more states legalize the use of Cannabis we believe that more and more technology will be needed to manage the growth of consumers with apps being the centerpiece; be it delivery, discovery, customer acquisition, or eventually payment services," says Mikael Hovhannisyan the app manager.
The App Portfolio is currently producing revenue and is a consistent source of monthly income, as the App Portfolio's trailing 12-month EBITDA was USD $139,000 or CDN $183,000. Subsequent to closing on this transaction, the Company's new app team established a new mobile gaming division with the intent to put out 420 themed games, which will generate revenue through In App Purchases (IAP) as well as through ad impressions.
The Company is also pleased to announce that it has successfully raised $810,000 CDN due to the recent exercise of warrants by the Company's early investors. The subject $0.15 warrants were part of a 2014 private placement and were exercised voluntarily by the warrant holders.
"We are excited at our positioning within the LED and CEA industries," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "Through our selective, accretive technology acquisitions, we are able to generate revenue, which in turn allows us to develop vertical farms and ultimately build value for our Shareholders."
Arcturus would also like to take this opportunity to announce that the first Arcturus Shareholder Conference Call will be scheduled for early November 1, 2016. We invite all Shareholders to attend and to submit questions no later than Monday, October 31st at 5:00 p.m. EST. Questions may be emailed to Arcturus' CEO and Chairman, William Gildea at gildea@arcturusgrowthstar.com.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact:
William Gildea, Director, at 617.834.9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Last updated 12/26/2016 - 0.2256
Arcturus Signs Definitive Agreement to Acquire 15-Acres of Cannabis Zoned Land
Dec 15, 2016
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Arcturus Signs Definitive Agreement to Acquire 15-Acres of Cannabis Zoned Land
PR Newswire
VANCOUVER, British Columbia, December 15, 2016
VANCOUVER, British Columbia, December 15, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(OTCQB: AGSTF) (CSE: AGS) is pleased to announce that it has signed a Definitive Agreement ("the Contract" to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket." "We are pleased to have reached this Contract to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "Florida's Legislature is beginning the process of figuring out how to implement Amendment 2, which expands the legalization of medical marijuana in Florida by allowing higher-strength marijuana to be used for a wider list of medical ailments. With this 15-acre acquisition, Arcturus is positioning itself to be a part of Florida's cannabis market as it rolls out in 2017."
Amendment 2, which was approved by over 71% of Florida voters, will go into effect on Tuesday, Jan. 3, 2017. Florida's Department of Health has six months to set regulations for the issuance of identification cards, qualifications and standards of care givers and registration of medical marijuana treatment centers. The agency is expected to issue the first medical marijuana ID cards to patients by September 3, 2017.
With this acquisition and the previously announced 10-acre greenhouse acquisition near Orlando, Arcturus has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation.
This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami. Arcturus and its experienced team of operators, including John Sweeney, former VP of Operations for Tilray's 60,000-square foot Vancouver facility, is in a unique position as a Canadian based company because it is poised to quickly commence operations within the United States rather than potentially wait years to become a licensed producer under Canadian law.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact William Gildea, Director, at +1-617-834-9467.
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus Announces $500,000 Private Placement
Dec 09, 2016
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Arcturus Announces $500,000 Private Placement
PR Newswire
VANCOUVER, British Columbia, December 9, 2016
VANCOUVER, British Columbia, December 9, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(CSE: AGS) (OTCQB: AGSTF) announces that it is in the process of arranging a non-brokered private placement (the "Private Placement" to sell up to 2,000,000 units at a price of $0.25 per unit (the "Units" for gross proceeds of up to $500,000 (the "Offering". Each Unit consists of one common share and one-half share purchase warrant (a "Warrant". Each half Warrant will entitle the holder to purchase one additional common share at an exercise price $0.35 per share. The Warrants are exercisable for a period of twelve (12) months from date of issuance, however this period may be accelerated if the Company's share price is above $0.45 cents for ten (10) consecutive days. The Units are to be distributed to shareholders in accordance with applicable securities laws and Canadian Securities Exchange (the "CSE" policies. Directors and Officers of Arcturus will participate in the Private Placement and the closing is expected to occur on or about December 23, 2016. The Units will be subject to a four (4) month plus one-day hold period from the date of closing of the Private Placement in accordance with applicable securities laws. The Company will pay to the finder: (i) a cash fee at the closing that is equal to 8% of the gross proceeds received by the Company from the sale of Units, from investors sourced by the finder; and (ii) issue finder's warrants exercisable for Units equal in number to 8% of the total number of all of the Units, from investors sourced by the Finder.
Closing of this Private Placement may be subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the CSE.
The net proceeds from the Offering will be used for general working capital purposes. As previously announced, CBO Financial, Inc. ("CBO"
will assist the Company with funding certain qualified vertical farming projects with a combination of New Market Tax Credits (NMTC) and debt. The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. CBO helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities. On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact William Gildea, Director, at +1-617-834-9467.
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus Announces 25,000-Sq Ft $5 Million "LED" Vertical Farming Project
Dec 08, 2016
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Arcturus Announces 25,000-Sq Ft $5 Million "LED" Vertical Farming Project
PR Newswire
VANCOUVER, British Columbia, December 8, 2016
VANCOUVER, British Columbia, December 8, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(OTCQB: AGSTF) (CSE: AGS.CN) is pleased to announce that it has partnered with CBO Financial, Inc. ("CBO" for the development and operation of a major "LED" vertical farm project in Baltimore, Maryland. Arcturus is also pleased to announce that it has concurrently signed a Letter of Intent ("LOI" to lease 25,000-sq ft of commercial shell space from Volunteers of America Chesapeake to accommodate the Baltimore farm. Volunteers of America Chesapeake ("VOAC"
, one of the largest and most respected nonprofits in the region, owns a building in Baltimore, MD that will undergo additional improvements to accommodate Arcturus' Controlled Environment Agriculture ("CEA" technology, which uses LED lights to grow plants on vertically stacked levels. As a partner in this indoor farm, VOAC has agreed to contribute generous rent concessions to Arcturus. The farm will be co-located in a residential reentry center, which helps ex-offenders reenter society and the workforce after serving federal prison sentences. The farm will provide job training and therapeutic opportunities for VOAC's residents. Arcturus, CBO and VOAC intend to use this Baltimore model to expand the Company's CEA technology and training and therapeutic programs developed by VOAC into other markets throughout the United States. Arcturus previously announced that CBO would act as the Company's financial advisor with respect to New Market Tax Credits (NMTC) for certain vertical farming projects. As part of this Baltimore farm transaction, CBO Financial will be arranging for $5,000,000 in NMTC based financing. CBO will also plan, co-finance, and perform day-to-day operations at the farm, and Arcturus will provide the system design, off-take agreements, co-finance, and offer ongoing O&M support. The Baltimore Farm is expected to be a showcase for Arcturus' LED horticulture lighting technology and the first of many projects that CBO and the Company will work on together in collaboration with Volunteers of America Chesapeake.
The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. CBO Financial helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities.
"We are pleased to have partnered with CBO Financial and Volunteers of America Chesapeake on this project and believe that its success will be a bellwether for public private partnerships within the urban farming industry," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "With Volunteers of America Chesapeake's diversified real estate holdings, CBO Financial's experience in community development and expertise in navigating the NMTC process and Arcturus's CEA technology, this is a perfect partnership. Our goal was always to create impactful social and corporate programs that are mutually beneficial for all involved, from the community, to the company and our shareholders. Partnering with Volunteers of America Chesapeake and CBO Financial puts us in the position to achieve that goal. We hope this is the first of many joint-projects for our companies."
"We are delighted to be involved with this project, which produces fresh food and quality jobs in a low income community and provides job training and therapy opportunities for VOAC residents. We expect this to be a prototype for future, profitable commercial scale projects that include social service oriented job training and therapeutic programs," says Craig Stanley, CEO of CBO Financial.
"Volunteers of America Chesapeake has been supporting and providing resources for the ex-offender community for over 35 years in Baltimore, Maryland," says Russell Snyder, CEO of VOAC. "We are committed to help the residents of our residential reentry center gain job skills and employment opportunities through social enterprise opportunities like vertical farming and we are pleased to partner with Arcturus and CBO Financial in this innovative project."
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact William Gildea, Director, at +1-617-834-9467.
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus led Canada Division Receives new Purchase Orders and Begins ETL Certification for its Award-winning Cannabis Grow Lights
Dec 06, 2016
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Arcturus led Canada Division Receives new Purchase Orders and Begins ETL Certification for its Award-winning Cannabis Grow Lights
PR Newswire
VANCOUVER, British Columbia, December 6, 2016
VANCOUVER, British Columbia, December 6, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (OTCQB: AGSTF) (CSE: AGS.CN) (the "Company" or "Arcturus"
is pleased to announce that its LED division, LED Canada, has received its largest purchase order to date from a 40-year-old Canadian chain of stores. This one customer positions LED Canada, a wholly-owned Arcturus division, to potentially generate over $1,000,000 in business in 2017. Arcturus' LED Canada and COB Grow Lights divisions offer a wide variety of cutting-edge LED lights for commercial, municipal, and home applications as well as greenhouse and indoor cultivation of legal cannabis. According to LEDInside: LED Lighting Market to reach US$30.5 Billion in 2016 and Professional Lighting Markets to see explosive growth.
"Our LED business is gaining more traction in the marketplace due to many factors that we suspect are related to the scaling of cultivation centers for both the cannabis and urban farming sectors. On a daily basis, we have seen an increase in inquiries since November 8th, which is exciting given our LED division is vital to cultivation expansion in North America," said Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This month, the Company shipped its largest single order to a single commercial customer, which operates a chain with 200 locations. The customer is currently testing the LED lighting in key markets and structuring a rollout to its other locations throughout Canada."
About Chip On Board (COB):
LEDs compete with traditional lighting sources in a number of ways, including greater energy efficiency, longer lifetime, and smaller size. However, the one drawback that has vexed many lighting designers is cost, which is a key reason why LED manufacturers continue to innovate to improve economies of scale. One of the newest packaging solutions designed to help lower costs is Chip on Board ("COB"
light source modules, in which the LED chips are in the form of a semiconductor chip that is neither encased nor connected but directly mounted onto a PCB or, more generally, a substrate. This packaging style also provides several related benefits, such as greater design flexibility, better light distribution, and simpler manufacturing processes. Arcturus believes that its Scorpion COB LED Grow lights has the best LED technology to grow legal cannabis on the market and can offer its lights at the best price as compared to its competitors, which gives it a distinct market advantage in the cannabis space. After Arcturus' own Rob Huston won 1st place in the Cannabis Cup using the Company's COB Grow lights, the Company is moving forward with ETL certification (a product bearing the ETL Listed mark is determined to have met the minimum requirements of prescribed product safety standards), after which it will be beefing up sales and marketing efforts throughout Canada and the Unites States.
Arcturus' LED division reports that the month of November has been the best sales month to date. The Company is also pleased to announce that it is currently testing its COB Grow Lights through an academic study. This project will be a ANOVA of LED horticulture fixtures using IBM-SPSS statistical software. The Company is looking forward to continuing its momentum in 2017 with the rollout of new LED testing results, plus new sales and marketing initiatives.
"As we move towards a more aggressive sales and marketing push in the Cannabis space for 2017, these independent third party testings are critical to gaining more market acceptance of our LED grow lights," says Rob Huston, LED Canada's manager and winner of the Cannabis Cup. "In addition to third party testing, it is expected that the Company will be gaining ETL certification in the next 60 days, opening up the entire North American marketplace, which we believe will have a very positive effect on sales for Arcturus' COB Grow Lights and LED Canada's sales in 2017."
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact:
William Gildea
Director
+1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus to Acquire 15-Acres of Cannabis Zoned Land
Nov 15, 2016
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Arcturus to Acquire 15-Acres of Cannabis Zoned Land
PR Newswire
VANCOUVER, British Columbia, November 15, 2016
VANCOUVER, British Columbia, November 15, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (OTCQB: AGSTF) (CSE: AGS.CN) (the "Company" or "Arcturus"
is pleased to announce that it has signed a Letter of Intent ("LOI" to acquire a 15-acre parcel of land in Redland, Florida, in a county that is designated to legally cultivate, process and dispense cannabis. Redland is an unincorporated community within Miami-Dade County, with Biscayne National Park to the east and Everglades National Park to the west. Redland is primarily a Miami suburb and a major agricultural area. Miami-Dade County is referred to as the nation's "Salad Bowl" and "Winter Bread Basket." "We are pleased to have reached this LOI to acquire this prime parcel of land as it has a long history as a plant nursery, which was first established in 1963," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This acquisition will be an all-stock deal and greatly adds to our geographic footprint and overall strategy in the state of Florida. With the recent passage of Amendment 2, an initiative which significantly broadens Florida's medical marijuana program, we want to be firmly established in the state and solidify our first mover advantage in one of the biggest potential cannabis markets in the United States."
With this acquisition and the previously announced 10-acre greenhouse acquisition near Orlando, Arcturus has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring in the potential for recreational legislation.
This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with close proximity to Miami. Arcturus and its experienced team of operators, including John Sweeney, former VP of Operations for Tilray's 60,000-square foot Vancouver facility, is in a unique position as a Canadian based company because it is poised to quickly commence operations within the United States rather than potentially wait years to become a licensed producer under Canadian law.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact: William Gildea, Director, at +1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus to Acquire Established Florida Greenhouse Zoned for Medical Marijuana
Nov 07, 2016
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Arcturus to Acquire Established Florida Greenhouse Zoned for Medical Marijuana
PR Newswire
VANCOUVER, British Columbia, November 7, 2016
VANCOUVER, British Columbia, November 7, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(OTCQB: AGSTF) (CSE: AGS) is pleased to announce that it has signed a Letter of Intent ("LOI" to acquire a 10-acre operating greenhouse in Florida, which is in a designated zone to legally cultivate, process and dispense cannabis. The Greenhouse fits Florida's stringent criteria for agricultural farmers looking to manufacture Cannabis which, under the current law, applicants had to have been in business in Florida for at least 30 years and grow a minimum of 400,000 plants at the time they applied. Image of greenhouse property: Aerial View
"This is a major milestone for Arcturus and positions us for tremendous growth for years to come," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "With this acquisition, Arcturus is potentially positioned as one of the public sectors first movers into Florida's cannabis market." Mr. Gildea continues, "This acquisition is in the designated legal grow zone with close proximity to Orlando, which has a local population of almost 2.5 million and attracts over 62 million visitors annually, making it a prime location.
Shareholders will be excited to know that the farm is much more than a "Zoned for Cannabis" piece of land, but a fully operational greenhouse business already in full production. The greenhouse property, which has been family operated since 1959, currently grows ornamental plants sold in large box stores throughout North America. In the past 12 months, it has generated over $2,600,000 in revenue with EBITDA of over $400,000, which is expected to continue until Amendment 2 allows for the property to be converted for growing cannabis. Once fully licensed and operational, the property has the capacity to generate seven figures in revenue per month. In the interim we feel we can use our CEA technology to quadruple the current ornamental plant yields, thereby increasing both profit and revenue."
On November 8th, Floridians will vote on Amendment 2, which would broaden medical cannabis usage to individuals with "debilitating" medical conditions as certified by a licensed physician. It also would greatly expand the consumer base for the state's marijuana industry. Amendment Two on the Nov. 8 ballot in Florida would broaden medical cannabis usage to individuals with "debilitating" medical conditions certified by a licensed physician. It also would greatly expand the consumer base for the state's marijuana industry, which by some estimates would exceed 400,000 citizens.
"Florida stands to be one of the biggest medical marijuana markets, in North America," says John Sweeney, Arcturus board member and former Vice President of Operations at Tilray, a 60,000-sq. ft. cannabis grow operation in Vancouver. "With all the opportunities in the cannabis market, I am thrilled with our ability to acquire this Florida property and to be a part of this dynamic and growing company."
Measures to legalize recreational marijuana are on the November 8th ballot in five states this year: California, Nevada, Arizona, Maine and Massachusetts. Four other states - Florida, Arkansas, North Dakota and Montana - are considering initiatives to legalize medical marijuana, a move that some say is a first step towards full legalization.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
For further information, contact
William Gildea
Director
617.834.9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
ARCTURUS Begins CONSTRUCTION ROLL OUT For Rhode Island Urban Farm
Nov 02, 2016
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ARCTURUS Begins CONSTRUCTION ROLL OUT For Rhode Island Urban Farm
PR Newswire
VANCOUVER, British Columbia, November 2, 2016
VANCOUVER, British Columbia, November 2, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(CSE: AGS) (OTCQB: AGSTF) is pleased to announce that it has engaged the services of Mr. Jim Coull to begin design and construction work at its flagship farm in North Kingstown, Rhode Island. Mr. Coull offers commercial design-build, general contracting and preconstruction services to the cleanroom laboratory, advanced technology, education and healthcare industries. He is known for his highly technical construction and turnkey services, from planning and feasibility through architecture, engineering, general contracting and commissioning. The Company plans to use the Rhode Island farm to showcase its proprietary scalable, indoor Controlled Environment Agriculture (CEA) technology, which allows it to produce crops more cost effectively than traditional farming methods, without the use of chemical pesticides, all while using 90% less water and fertilizer. Mr. Coull has experience with Arcturus' CEA technology, and even helped to refine the CEA system by creating greater efficiencies during growth trial phases.
"We are excited to have Jim Coull and his team of construction professionals on board with us in the development and construction of our Rhode Island farm, which can grow both leafy greens as well as cannabis," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "Mr. Coull's reputation for excellence and comprehensive construction management services will ensure our flagship farm's success."
Mr. Coull adds, "I am pleased to see this project is underway and look forward to help bring it to a successful conclusion. It will provide fresh organic produce to the Rhode Island Market on a one-day 'harvest to table' basis. CEA is the coming trend in the food production business, and is of particular importance here in New England where our growing season is very short."
Rhode Island is a small, but densely populated state with just over one million residents. Arcturus' farm will serve Rhode Island residents and the entire Northeast market where there is strong consumer demand for organic produce, and an opportunity to significantly reduce "food miles" associated with transporting produce from California and Arizona. The farm's proximity to numerous northeast routes will enable the farm to capitalize on many channels of distribution. Rhode Island also has Medical Marijuana laws that allow urban farms such as ours to make build out designated areas to cultivate cannabis for medical purposes.
For further information, contact William Gildea, Director, at +1-617-834-9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
ARCTURUS GROWTHSTAR TECHNOLOGIES INC.
#5-9079 Shaughnessy Street
Vancouver BC
V6P 6R9
For further information, contact William Gildea, Director, at +1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
Arcturus Now Traded on U.S. OTCQB® Venture Market
Oct 26, 2016
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Arcturus Now Traded on U.S. OTCQB® Venture Market
PR Newswire
VANCOUVER, British Columbia, October 26, 2016
VANCOUVER, British Columbia, October 26, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(CSE: AGS) (OTCQB: AGSTF) is pleased to announce that, in addition to being listed on the Canadian Stock Exchange, it will now also be traded on the OTCQB® Venture Market. The OTCQB® Venture Market is for early-stage and developing U.S. and international companies. To be eligible, companies must be current in their reporting and undergo an annual verification and management certification process. Companies must meet $0.01 bid test and may not be in bankruptcy. "We are pleased to have the ability to immediately distribute Arcturus' information and bring greater transparency to a wider audience of U.S. investors, market data distributors, investment databases, media outlets, and broker-dealers," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "Being traded on the OTCQB will allow us to better connect with our shareholders by facilitating real-time delivery of information and news."
For further information, contact William Gildea, Director, at +1-617-834-9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact:
William Gildea, Director
+1-617-834-9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
OTC Markets Group Welcomes Newly Verified OTCQB Companies – October 26
Oct 26, 2016
Service
New York, NY -
OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced the following companies are verified for trading on the OTCQB® Venture Market:
Arcturus Growthstar Technologies Inc. (CSE: AGS; OTCQB: AGSTF) – Arcturus Growthstar Technologies Inc. is rapidly becoming a leading indoor plant growth technology company specializing in LED lighting and vertical farming solutions. AGT's business model includes developing and acquiring technologies that will further its position as a leader in the evolving Controlled Environment Agriculture (CEA) market for the global production of various types of plants. The Company holds a worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
Blake Insomnia Therapeutics, Inc. (OTCQB: BKIT) – Blake Insomnia Therapeutics, Inc. is a New York-based pharmaceutical company devoted to improving nighttime and daytime quality of life for people with insomnia. The Company’s patent-pending compound, Zleepax (ZLX-1), has demonstrated efficacy without causing side effects which has been identified as the No. 1 problem with current sleep medications.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for these companies on www.otcmarkets.com.
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OTC Markets Group Inc. (OTCQX: OTCM) operates the OTCQX® Best Market, the OTCQB® Venture Market, and the Pink® Open Market for 10,000 U.S. and global securities. Through OTC Link® ATS, we connect a diverse network of broker-dealers that provide liquidity and execution services. We enable investors to easily trade through the broker of their choice and empower companies to improve the quality of information available for investors.
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Arcturus Growthstar Technologies Inc.: CEO Update to Shareholders
Oct 19, 2016
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Arcturus Growthstar Technologies Inc.: CEO Update to Shareholders
PR Newswire
VANCOUVER, British Columbia, October 19, 2016
VANCOUVER, British Columbia, October 19, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus"
(CSE: AGS) (OTC Pink: AGSTF) is pleased to provide the following update to its current and prospective Shareholders regarding the Company's recent activities relative to Arcturus' current lines of agricultural technology, cannabis based media and app platforms and its expansion into urban farming markets. This update also lays out Arcturus' plans for the immediate future, including the Company's first Shareholder Conference Call. Arcturus is a British Columbia company focused on developing and marketing products in the consumer LED industry and in the Controlled Environment Agriculture ("CEA"
industry through its online sales channels and web presence relative to its Scorpion LED & COB grow lights. Recently, Mr. Rob Huston, the head of the Company's LED division, won 1st place for the "Indica - Private Grower" category at Bio Cup Canada, the largest cannabis cup to ever take place in Canada by using the Company's Scorpion COB grow lights with off the shelf seeds. Five plants were grown legally using an MMAR patient license in a 4'x8' space, using 1500 watt total, consisting of 1 Scorpion 9x 525 watt and 3 Scorpion 5x 325 watt each. Mr. Huston's five plants were harvested at eight weeks and resulted in a 1.35-lb harvest. Arcturus has had much success in the LED space, even prior to Mr. Huston's award, putting itself in a very good position ahead of medical marijuana legalization in Canada. Now that the Trudeau administration has signaled its plan for a complete legalized cannabis market, Arcturus is using its current lines of LED and CEA technologies to penetrate the market and aid in the growing number of licensed producers (LP's) building out their facilities.
With an eye beyond simply sales, the Company contracted with Mr. John Sweeney, formerly the vice president of operations for Tilray, one of Canada's biggest privately licensed cannabis producers owned by Privateer Holdings. Mr. Sweeney will spearhead the Company's professional consulting services in the area of "current Good Manufacturing practice" (cGMP), which provides for systems that assure proper design, monitoring, and control of manufacturing processes and facilities in support of mandates on the horizon.
The Company also engaged the services of CBO Financial, Inc. as its financial advisor with respect to New Market Tax Credits (NMTC) for a vertical farm project. The NMTC program is a $65 billion federal program designed to incentivize private investment in low-income communities. NMTCs are provided to financial institutions in exchange for equity investments that eligible businesses can use to subsidize project development costs. The NMTC program provides 20% to 25% of a project's cost in very flexible financing for projects located in low-income communities. CBO Financial helps driven organizations, such as Arcturus, to finance facilities that will provide goods and services that benefit populations in need and revitalize communities. Arcturus' partnership with CBO Financial is both shareholder and capital structure friendly in the sense that the draw of capital is non-dilutive in nature. Arcturus and CBO Financial are currently developing one vertical farming project together, but plan to work together on many more projects in the future.
On October 4, 2016, the Company closed on its transaction to acquire a large portfolio of revenue generating Apps and source code (the "App Portfolio"
. This all-stock acquisition brings on a seasoned team of app developers, which instantly expands the Company's tech portfolio and positions Arcturus for rapid rollout of a suite of cannabis centric apps. "As more and more states legalize the use of Cannabis we believe that more and more technology will be needed to manage the growth of consumers with apps being the centerpiece; be it delivery, discovery, customer acquisition, or eventually payment services," says Mikael Hovhannisyan the app manager. The App Portfolio is currently producing revenue and is a consistent source of monthly income, as the App Portfolio's trailing 12-month EBITDA was USD $139,000 or CDN $183,000. Subsequent to closing on this transaction, the Company's new app team established a new mobile gaming division with the intent to put out 420 themed games, which will generate revenue through In App Purchases (IAP) as well as through ad impressions.
The Company is also pleased to announce that it has successfully raised $810,000 CDN due to the recent exercise of warrants by the Company's early investors. The subject $0.15 warrants were part of a 2014 private placement and were exercised voluntarily by the warrant holders.
"We are excited at our positioning within the LED and CEA industries," says Mr. William Gildea, Arcturus Growthstar Technologies, Inc.'s CEO and Chairman. "Through our selective, accretive technology acquisitions, we are able to generate revenue, which in turn allows us to develop vertical farms and ultimately build value for our Shareholders."
Arcturus would also like to take this opportunity to announce that the first Arcturus Shareholder Conference Call will be scheduled for early November 1, 2016. We invite all Shareholders to attend and to submit questions no later than Monday, October 31st at 5:00 p.m. EST. Questions may be emailed to Arcturus' CEO and Chairman, William Gildea at gildea@arcturusgrowthstar.com.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
Contact:
William Gildea, Director, at 617.834.9467
SOURCE Arcturus Growthstar Technologies Inc.
Copyright © 2016 PR Newswire. All Rights Reserved
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