DIGITAL UTILITIES VENTURES INC. MAKES STRONG MOVE INTO HEMP MARKET WITH LAKOTA TRIBAL COOPERATIVE, LLC.
BOSTON, MA – October 3, 2018 – Digital Utilities Ventures, Inc. (OTC PINK: DUTV) is pleased to announce it has entered into a strategic partnership with Lakota Tribal Cooperative, LLC. (LTC). LTC was created to become the largest grower of commercial hemp in the United States. Their ambitious plan includes the planting of 10,000 to 20,000 acres of hemp in the Spring of 2019. Under this agreement, DUTV will acquire 47.5% of Lakota Tribal Cooperative, LLC in exchange for an investment of up to $50 million.
“Digital is committed to working with the Lakota Tribal Cooperative to create jobs and revenue within the community,” says Digital CEO. Maurice Stone.
According to Stone, the investment will be used for all aspects of the operation from planting and harvesting, to the purchase or lease of heavy-duty tractors, harvesters, truck trailers, grain drills, dryers, pelletizers, irrigation equipment, buildings and building the extraction facility.
“We, along with the Lakota Tribal Cooperative, envision both short and long-term growth as the laws regarding industrial hemp evolve to reflect the reality what hemp means for producers and consumers, in the US and internationally,” says Stone.
Hemp and its extracts are currently illegal at the Federal leval, having been lumped together with marijuana as a Schedule 1 drug, along with Cocaine and Heroin. In reality, Hemp and its extracted CBD do not have the same psychoactive effect as the THC found in marijuana In fact, many components of CBD counteract the “high” people get from THC. As a result, the attitudes and laws around Hemp and CBD are changing. Earlier this year the World Health Organization recommended Hemp and CBD be removed from the list of controlled substances in all nations.
The 2018 Farm Bill currently making its way through Congress, includes a provision to legalize Hemp and CBD in all 50 states. Businesses both on and off Wallstreet have been making moves in preparation for this seismic shift in the marketplace. In addition to the health benefits of CBD extracts, which include life changing medications for epileptics, and promising benefits for diabetics and those suffering from Parkinson’s, industrial Hemp has application in over 25,000 products. The fastest growth market for Hemp is the Auto industry, from plastics to fabric, Hemp offers fabrication versatility rarely seen from a single raw materials source.
Based on current market conditions we anticipate generating approximately $90,000 gross revenues per acre based on harvesting 1,700 plants per acre, which translates to approximately 10-kilos of CBD distillate per acre. We anticipate NET income from the 2019 crop to be in excess of $400,000,000.
“Everyone is waiting on the Farm Bill,” said Stone. “The current bill expired on September 30th and we hope to see a vote come through quickly. We anticipate more big news to come through on the heels of the changes in the law. Being able to cultivate interstate business will break the market wide open. DUTV has been working for the past year to be in a very strong position as this market evolves.”
About Digital Utilities Ventures, Inc.
Digital Utilities Ventures has targeted the medical and recreational segments of the marijuana market. We have aconcentration on Hemp and its 25,000 associated products. https://ministryofhemp.com/hemp/not-marijuana/ Our core product line is CBD and its medical derivatives and line extensions. CBD (Cannabidiol) – is a cannabis non-hallucinatory compound that has significant medical benefits for the treatment of a wide range of conditions such arthritis, diabetes, alcoholism, MS, chronic pain, schizophrenia, depression, antibiotic-resistant infections, epilepsy, opioids and other neurological disorders. Digital Utilities Ventures, Inc. is poised to become an industry innovator by developing an end-to-end supply chain approach to the legal cannabis and hemp markets. The Company’s strategy is to develop through acquisitions and business development a vertically integrated business model that covers the entire spectrum of the CBD business from cultivation, through production, quality control and finally to distribution through dispensaries. https://www.hempbizjournal.com/size-of-us-hemp-industry-2017/
Forward Looking Statements
This press release includes statements that may constitute ”forward-looking” statements, usually containing the words ”believe,” ”estimate,” ”project,” ”expect” or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company’s current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company’s periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
OUR VISION OF GROWTH CONTINUES
Things are changing at Digital Utilities Ventures, Inc. (PK:DUTV) and we wanted to take a moment to acknowledge our long-term shareholders and provide you with an update on where we are taking the company under new management. The Cannabis industry is growing exponentially as states across the nation legalize both medical and recreational use. It’s not a stretch to consider growth in the cannabis industry a modern- day Gold Rush.
As with the actual Gold Rush, there are both good opportunities and those that are too good to be true. We have been working diligently for many months to find the best long-term opportunities for profitability and growth, but also stability. Currently, federal laws are out of alignment with the state push for legalization, the risk in the marketplace is uncomfortably high. For this reason, we are focusing our near-term goals on bringing CBDs, hemp products and medical cannabis to market. To achieve these goals we have been diligently securing strategic and exclusive partnerships for a range of products that we feel will remain viable in all states, regardless of federal law. We are positioning ourselves in both existing and burgeoning markets so that we have evergreen product placement, which provide a level of security for both our company and our shareholders.
While we are taking a more pragmatic approach to entering the cannabis market, our underlying corporate philosophy is Seed to Storefront. Our long-term goal is to control all aspects of the supply chain to maximize profitability and innovation. Even though it may seem like a sudden shift in direction for the company, we have been planning, strategizing and working on deals for almost a year. It’s just now that we have all the pieces in place and can bring news to you, our shareholders, of our exciting new direction.
We hope you feel encouraged and enthusiastic about our new direction. We want our investors to understand that his is a long-term, far reaching plan that will bring Digital Utilities Ventures, Inc. into a growth market for many years to come. Our team of seasoned professionals will bring years of experience and networking to the table for the benefit of this organization. We are truly excited to bring new life to this company and we look forward to releasing the details of what’s next for DUTV over the coming weeks and months.
Legal hemp is much more than CBD derivatives. Here are a couple of links with more information about hemp and the hemp industry: