Altitude Organic and Colorado Cannabis Company Begin Joint Venture Agreement
PHOENIX, Aug. 22, 2011 /PRNewswire/ — Altitude Organic Corporation (ERBB:OTCPink), a leading national, publicly-traded medical marijuana company, is pleased to announce it has signed a joint venture agreement with Colorado Cannabis Company (http://coloradocannabiscompany.com/) — a state licensed medical marijuana infused products manufacturer. In the agreement, Colorado Cannabis Company LLC will use its state licensed medical marijuana commercial kitchen to produce Altitude Organix marijuana infusible products. Over 40 different edible products will be produced for sale in the regulated Colorado medical marijuana industry. Altitude Organix(TM) branded products will be sold and test marketed at Altitude Organic Medicine stores, as well as at other dispensaries throughout the state beginning this September. Edible products offer state licensed patients the ability to consume cannabis without having to inhale smoke. The Colorado medical marijuana market is estimated to reach $250,000,000 in 2011 with edible sales grabbing an increasing share of the market.
Report: Medical Marijuana Sales in Colorado
Upon the successful product launch in the regulated Colorado market place, Altitude Organix branded products will undergo a packaging and labeling design enhancement for introduction into the Southern California market.
CEO Brian Cook stated, “Partnering with Colorado Cannabis Company to perfect and launch our Altitude Organix branded edible line is the next logical step for our company. They have a great reputation for producing high quality products at a very low operational cost. After successfully launching in Colorado, Altitude Organix products will be produced and sold in each state the company operates medical marijuana dispensaries.”
ABOUT ALTITUDE ORGANIC CORPORATION
Altitude Organic Corporation www.altitudeorganix.com provides independently-owned retail dispensaries in Colorado, California, and Arizona business support services, while also acting as a one-stop-shop for entrepreneurs looking to enter the burgeoning, multi-billion dollar industry of legal cannabis. Altitude Organic Corporation has launched its new management company strategy in Arizona. The company can manage, staff, consult, and provide uniquely branded products and concepts to medical marijuana dispensaries using a limited liability agreement. The company also sells horticulture equipment via its partnership in Sundance Hydroponics (www.sundancehydroponics.com). Visit www.altitudeorganicmedicine.com today.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company’s Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
SOURCE Altitude Organic Corporation