Latteno to Acquire Local Marijuana Co-Op, Valley Organics Inc.
Company Prepares for Growth in the Potential $46 Billion US Medical Marijuana Market
SANTA ANA, CA, Aug 26, 2013 (Marketwired via COMTEX) -- Latteno Food Corp. (OTC Pink: LATF) recently announced its New Business Plan that calls for acquisitions and growth in the Medical Marijuana Industry. In addition to its current operations and prior acquisition of California-licensed Green Cannabis Inc., the Company has formed new partnerships with various medical marijuana dispensaries and edibles that have resulted in LOI signing of a newly-formed Valley Organics Inc. in Southern California.
Valley Organics Corp. will focus its efforts on research/development and distribution the "Green Smoke" products along with Green Cannabis as announced in our previous press release. This new technology uses a microprocessor chip which controls the heating element and maintains the proper temperature needed to vaporize your concentrates and oils. It has the strategic advantage over conventional personal vaporizers that don't reach or maintain the proper heat range needed for vaporizing concentrates effectively.
Based on extrapolations of Washington State's Office of Financial Management, estimates that the total US marijuana marketplace could be as big as $46.42 billion per year if cannabis were legalized nationally. That does not include ancillaries such as hydroponics or paraphernalia, or services to the dispensary industry such as landlords, testing labs, security systems, insurance, advertising.
The legalization of medical marijuana in several states has paved the way for a budding edible medical marijuana industry and the Company is expanding into this exploding new marketplace of medical marijuana and cannabis edibles.
"We are pleased to make great progress in our recent acquisitions and growth in the medical marijuana market," stated Thu Le, Chief Executive Officer. "With our combined joint efforts on both Valley Organics and Green Cannabis, we feel that we have the necessary manpower and resources to accomplish our near term goals and objectives. We'll continue to fight a great battle to keep Latteno as a forefront runner in the Southern California medical marijuana marketplace with grand plans for national expansion very shortly. Our shareholders will be informed every step of the way as we accomplish our near/long term goals."
About Latteno Food Corp. (Latteno.com)
Latteno Food Corp. is an investment portfolio company that acquires food products, medical marijuana edibles and related products/services to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements.
About Green Cannabis Collective Inc. (Green-Cannabis.com)
Southern California-owned and licensed medical marijuana dispensary and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).
About Valley Organics Inc. (ValleyOrganics.org)
Southern California-owned and licensed medical marijuana co-op and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
Contact:
Latteno Food Corp.
Investor Relations
(800) 549-3067
