DENVER, CO--(Marketwired - Apr 25, 2014) - Latteno Food Corp. (OTC Pink: LATF) (PINKSHEETS: LATF) is pleased to announce that it has made formal application to the Colorado Department of Revenue, Medical Marijuana Enforcement Division for the State's Optional Premise Cultivation License (OPC). State regulations permit only a center licensee or an MMJ edible manufacturer can apply for the OPC. The MMJ Industry was legalized by popular vote supporting an Amendment to the Colorado Constitution allowing the use of marijuana within the confines of the State of Colorado.
The Company also is pleased to announce that, as the next step in its aggressive MMJ initiative, it has submitted formal Offer to Purchase a Denver Grow Warehouse valued at $500,000. It is anticipated that the closing will be within the next 30-60 days.
The acquisition of a Grow Warehouse represents and the formal Application for a Colorado OPC represents the Companies strategy of creating multiple revenue streams in each market it enters. Specific initiatives include the MMJ Delivery Service, MMJ Grower Warehouse facilities, MMJ Dispensaries and MMJ Evaluation Offices.
The Company had recently announced two MMJ Delivery and Customer list acquisitions under its newly created Rx Harvest Collectives banner; and negotiations are currently underway to expand this successful service across Southern California. Additionally, other centers, including Las Vegas, Denver and Washington State are being considered once the Company has its complimentary MMJ Evaluation Offices, and supply sources established.
Additionally, the very positive consumer reaction to the Company's the recently opened Medical Marijuana Evaluation office in Los Angeles, CA, has accelerated a second opening planned for Las Vegas, NV. This office will also be staffed by accredited Doctors who are authorized to evaluate, recommend state-issued MMJ cards to qualified residents. Latteno's MMJ Evaluation Service is expected to provide a continuing source of potential MMJ Delivery customers.
"The formal application for the OPC license and the planned acquisition of Grow Warehouse facilities in our new home of Denver represent a major step forward in the implementation of our aggressive business strategy," commented CEO Thu Le. "Our multiphase approach to creating complementary revenue streams is unique in the industry. We look forward to continued progress in all our operating units."
About Latteno Food Corp. (Latteno.com)
Latteno Food Corp. is an investment portfolio company that acquires food products, medical marijuana edibles and related products/services to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements.
About Rx Harvest Collective Inc. (RxHC.org)
Southern California-owned and licensed medical marijuana co-op and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 - 11362.83).
About Mekonza Corp. (Mekonza-corp.com)
Headquartered in Southern California since 2006, Global Trading Group (GTG) started out as a luxury/exotic car exporter and eventually branched out into seafood importing which came about Mekonza Seafood. The variety of seafood products we offer has allowed us to be an innovator in product development. The diversity of our products allows us to be the next force-to-be-reckon-with in the seafood industry. Mekonza has grown from a small one-man operation to one of the West Coast's most innovative and well-equipped seafood importing and processing companies. With outstanding customer service as our secret sauce and key ingredient, we're on our way to be the industry's leader committed to achieve the highest possible standards in quality, service to our clients, suppliers and investors.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.