BOSTON, May 8, 2014 /PRNewswire/ -- Verde Media Group
Inc. (OTC: VMGI) and its Biotech Division ("VMBD") announce they
have entered into negotiations for an overseas contract and ongoing
joint venture in Asia to produce Cannabidiol oils "CBD" using
select strains of Cannabis. The contract will be a joint venture
with Phoenix Energy "PXE" that will co-finance 50% of the project
cost. Using proprietary technologies developed by VMBD, highly
concentrated CBD oil will be extracted and prepared for importation
and distribution to the wholesale market.
CBD is a non-psychotropic phytocannabinoid that can be blended
in food products for realizing medical benefits such as chronic
pain treatments, cancer pains and neuro-protection for those
afflicted by multiple sclerosis and epilepsy. The joint venture
would use these selected strains highly concentrated in CBD and is
expected to produce $5M revenues per
annum.
Dr. Abidi, Ph.D. CEO of VMBD stated, "The oversea joint venture
will complement our plans for US based production of Cannabis
enriched CBD oils. We anticipate scaling the initial 20,000 sq. ft.
facility to 500,000 sq.ft. in a few years to match the demand with
linear increase in revenue output."
About Verde Media Group Inc.
Verde Media Group Inc. is a publicly traded company listed on
the OTC Markets trading under the stock symbol: VMGI. Verde
Media Group Inc. The company is consists of three
divisions:
Agency Division- The innovative Agency division services-
public relations, marketing, and transaction functions for
corporate clientele. The agency is rapidly expanding its
business in the Denver,
Colorado.
BioTech Division- The VMBD division undertakes the business of
developing and producing high value bio-products from renewable
biomass. The focus and criterion is to develop proprietary
microbial technologies with low risk scale-up methods employing low
cost feedstock. VMBD will further develop the derivative and
ester forms of CBD for increase potency and their use in different
delivery systems, including sublingual, inhaled dosage forms and
blending with food products.
Entertainment Division- The company operates a managed
media company with production, distribution, development, and
acquisition functions for film and television.
For more information, visit www.verdemediagroup.com, or connect
with the company on Facebook. Twitter- @Verdemediagroup
DISCLAIMER: CAUTIONARY DISCLOSURE ABOUT FORWARD-LOOKING
STATEMENTS
The results described herein cannot be guaranteed. This release
contains "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E the
Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Statements in this news release other than statements of historical
fact are "forward-looking statements" that are based on current
expectations and assumptions.
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SOURCE Verde Media Group Inc.