MIAMI, Fla., March 17, 2021 /PRNewswire/ -- 4Cable TV International, Inc. (OTC: CATV) (the "Company" or "CATV") announced today that it completed the acquisition of all of the outstanding capital stock of Green Bros, S.A.S. ("Green Bros"). Green Bros, based in Medellín, Colombia, owns four cannabis licenses to cultivate, manufacture, and export Cannabis-related products.
At the beginning of 2021, the Colombian Ministry of Health and Social Protection published a draft bill (relating to Law 1787 and Decree 613 from 2017), which, among other things, seeks to facilitate access to Cannabis products for Colombians and allow Colombia companies to export THC dry flower. The Company recognized this opportunity as a means to further its transformation into a fully integrated global Cannabis business. The Company acquired Green Bros to initiate its ability to cultivate THC for the Company's international Cannabis business.
With its headquarters in Medellín, Green Bros' received its much-awaited Colombian licenses in 2020. Revolutionizing the traditional way of product manufacturing, Green Bros has brought the most advanced technologies to use to achieve exceptional production of high-quality cannabis for export with ease, subject to final rules permitting such export from Colombia.
Having an expert team of dedicated specialists and marketing professionals on-board, Green Bros has been fortunate to receive its cultivation licenses and required registration approvals to further progress on its path. The approved licenses include:
License for the Cultivation of Non-Psychoactive Cannabis Plants.
License for the Cultivation of Psychoactive Cannabis Plants.
License for the Manufacture and Export of Cannabis Derivatives.
License for the Production and Commercialization of Cannabis Seeds.
Green Bros is licensed to cultivate psychoactive and non-psychoactive cannabis plants and manufacture both CBD and THC products. It has received its registration from the Colombian National Narcotics Fund to proceed with its operations without any anticipated obstructions. These licenses and registration position Green Bros to quickly take advantage of export opportunities if final rules permitting export are passed.
Discussing his acquisition rationale, Michael Feldenkrais, the Company's CEO, stated, "We are excited to now have our own licenses in Colombia as this will allow us to start our corporate expansion into the international market and take advantage of the key benefits that the country offers us including the favorable environmental conditions, pricing, the skilled workforce, cultivars, and the ideal conditions to potentially ship worldwide thanks to the infrastructure and trade agreements that are currently in place."
Green Bros expects to obtain the GAP and GMP Certifications as well to have the highest quality standards as it positions itself as one of the leading companies in the international market.
The Company acquired Green Bros for consideration consisting of shares of the Company's Series B Preferred Stock valued at $50,000.
The High-Yielding Location Focused on having rich produce, Green Bros operates out of a picturesque property of close to 3.5 acres, spread far and wide. Located in the Guarne town in the Colombian department of Antioquia, the land stands 7,050 ft above sea level. Being a part of the subregion of the Eastern Antioquia, it is situated 24kms east of Medellín, having extensive connectivity beneficial for carrying out their daily activities.
Having the José María Córdova International Airport at a distance of 12.18kms from the land offers considerable accessibility. Guarne witnesses a mild climate throughout, making the place extremely work-supportive.
The land distribution is done in an ordered and mindful manner, allocating fixed segments for various producers.
Colombian Market and The Investment
Colombia, also known as the Republic of Colombia, is a land of vast opportunities. With the attractive advantages of a favorable climate, cheap production, and current revised regulations, the Colombian market tends to be an expansive and welcoming country for all kinds of business associations and dealings. After the latest amendments in its legal constitutions, Colombia is now authorized to hold authentic export tradings, especially in the field of cannabis produce. This has held to an anticipated inclination of huge companies towards the business sector, resulting in more significant investments into the domain.
Cannabis holds a high value in terms of clinical and medicinal usages. With its therapeutic advantages, the plant has immense value for recreational purposes. Colombia has proven to be an apt land for a thriving plantation of cannabis with its beneficial geography and climate patterns. Soaking up to 12hrs in the sun throughout the year, cannabis can grow and cultivate in a full-fledged manner, unlike other places of its production. Previous years have seen a contained trade of the plant since it had been limited to research purposes only, but this year, the export is set to rise. With an established linkage, legal trading of cannabis will soar soon, opening the doors to an output-oriented market.
About Green Bros SAS
Green Bros SAS is a Colombian company that has obtained four cannabis licenses and is positioned to become a premier cannabis cultivator, manufacturer, genetics specialist, and exporter. Its headquarters are in Medellín, Colombia, with its cannabis facilities in a gorgeous 3.5-acre property in Guarne, Antioquia, situated at approximately 7,050 ft of altitude with a mild climate and 7.5 miles from José María Córdova International Airport. The team of experts from the agricultural and medical marijuana industries, compliance specialists, and international sales and marketing professionals who have been chosen to lead the project have a mission of impacting the health, fitness, wellness, and pet industries through the use of medicinal cannabis.
About 4Cable TV International, Inc.
4Cable TV International, Inc. (OTC: CATV) seeks to create and operate a fully integrated global cannabis business, ranging from growing to retailing. To accomplish this strategy, the Company has begun to seek acquisition targets in the cannabis industry actively. The Company has consolidated its operations into the facilities located at 23100 SW 192nd Ave, Miami, FL 33170.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release regarding 4Cable TV International's business that are not historical facts are "forward-looking statements." Examples of forward-looking statements include, among others, statements regarding the Company's future business and prospects, strategic plans and strategic transactions. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. The Company's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause the Company's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others: general economic and financial conditions; consumer demand for Cannabis products and services; volatility in the trading markets and the lack of liquidity in the Company's common stock; the Company's ability to successfully execute on its new Cannabis strategy; the Company's limited operating history in the Cannabis business; the legal status of the Company's Cannabis business, both in the U.S. and abroad; risks inherent in the Cannabis business; existing and new U.S. and foreign government regulations and changes in regulatory requirements; risks related to rules and regulations at the U.S. federal, state and municipal levels and applicable foreign jurisdictions with respect to Cannabis; the Company's ability to obtain financing or raise capital on favorable terms or at all in order to execute its business strategy; the Company's ability to successfully identify and integrate acquired businesses; risks associated with conducting operations in foreign countries; and risks associated with engaging in transactions with third parties, including related parties. For a discussion of additional general risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see CATV's OTC Market filings. Any forward-looking statement made by in this press release is based only on information currently available to the Company and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.
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SOURCE 4Cable TV International, Inc.