DC Brands Seeks to Become a Financing and Service Provider to the Colorado Marijuana Industry
DENVER, April 4, 2014 /PRNewswire/ — DC Brands International, Inc. (OTCQB: HRDN) (“DC Brands” or the “Company”) is excited to announce that it is changing its corporate focus to become a financing and service provider to the growing Colorado marijuana industry. DC Brands, through its newly formed and 80% owned subsidiary, DC Brands Green Investments, LLC, intends to provide accounting, security, compliance, payroll processing and tax payment services to fully licensed Colorado medical and recreational marijuana businesses.
Due to current banking restrictions many fully licensed Colorado marijuana growers and sellers are forced to do business in only cash. This creates many challenges in banking, paying employees, remitting taxes, etc. The Company currently has a one million dollar commitment from an existing financing partner and is in discussions with several others for additional offers to fund this new business opportunity.
Bob Armstrong, the CEO and CFO stated, “We believe that refocusing the company as a comprehensive service provider to this rapidly expanding local industry will provide the best opportunity to maximize our shareholder value and reduce the debt on our balance sheet. He continued, “We are also currently working closely with local Colorado marijuana attorneys to ensure that our activities will not create any “ownership position” as a licensed grower or seller in the eyes of the Colorado Marijuana Enforcement Division of the Department of Revenue – the regulatory body of the state’s marijuana industry.”
The Company anticipates closing on a contract with its first client within the next 30 days.
About DC Brands International, Inc.
DC Brands International, a publicly traded company under the ticker symbol (HRDN), formerly specialized in the manufacturing of its functional beverages and health products. The company currently owns a 15% stake in Village Tea. Established in 1998, DC Brands began producing a number of lines of energy drinks in 2005. DC Brands then purchased the assets of H.A.R.D. Nutrition and began its quest to produce a new health line of products. DC Brands released of its H.A.R.D. Nutrition Functional Water Systems, which was revolutionary in the functional beverage category. The company also has a minority equity stake in Village Tea Company Distribution as well as a product development agreement for ready-to-drink tea based beverages.
This press release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company intends for the forward-looking statements to be covered by the safe harbor provisions for forward-looking statements. Words such as “anticipates,” “expects,” “intends,” “plans,” “believes,” “seeks,” “estimates,” or variations of such words are intended to identify such forward-looking statements. The forward-looking statements are based on current expectations, estimates and projections made by management and include statements regarding the company’s new corporate focus and future plans. All forward-looking statements in this press release are made as of the date of this press release, and the Company assumes no obligation to update these forward-looking statements other than as required by law. The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those set forth or implied by any forward-looking statements, such as our ability to implement successfully our new corporate plan, attract clients and necessary capital, and the continued rapid growth of the local Colorado marijuana industry, and the risk factors discussed in the Business and Management’s Discussion and Analysis sections in our Quarterly Reports on Form 10-Q, Annual Reports on Form 10-K and Current Reports on Form 8-K. Copies of these filings are available at www.sec.gov
SOURCE DC Brands International Inc.