SOURCE: Latteno Food Corp.

November 11, 2013 08:30 ET

Latteno Recaps/Updates Previous News Announcements

Board of Directors Voting on Shares Buy Back Program

SANTA ANA, CA--(Marketwired - Nov 11, 2013) - Latteno Food Corp. (OTC Pink: LATF) today announced that it has made progress on previously announced developments:

Oct 30. Latteno Food Corp. Signs Letter of Intent to Acquire MMJ Multimedia Contents Provider.

The company is moving forward with assets purchase of a couple MMJ directory and information portals from a yet-to-be-disclosed Southern California multimedia company. By entering the MMJ directory portal business, the Company is expanding its online social media and mobile presence which are great tools to market its products and services and at the same time capturing marketing revenues from MMJ providers in the other twenty MMJ-approved states.

Nov 4. Latteno Announces Entrance Into Arizona/Nevada Medical Marijuana Market With Plans for Local Joint Venture/Partnership.

The company is currently completing negotiations and due diligence on a proposed joint ventures and development of local MMJ THC and edible products. Our California-based dispensary and co-op will begin to market its edible products to both Arizona and Nevada MMJ marketplace which will be explosive in nature since these two combined states' revenues could surpass California's.

Nov 5. Latteno Receives $1,000,000 Funding Commitment From an Offshore Hedge Fund.

The company has decided to reject this offer due to potential stock dilution and other no-agreeable and potentially toxic terms.

Nov 7. Latteno Receives All Cash Offer to Buyout Assets of Wholly-Owned Subsidiary Mekonza Corp.

The company is moving forward with the Definitive Agreement on the assest purchase of Mekonza. The final agreement and announcement is pending the completion of due diligence by both parties.

Additionally, Latteno management feels that our shares are severely undervalue at this level and has looked into the potential of a share buyback program. The Company is allocating a budget and deciding on the number of shares which we will announce very shortly.

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 Green Cannabis Collective Inc. (Green-Cannabis.com)
Southern California-owned and licensed medical marijuana dispensary 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 Valley Organics Inc. (ValleyOrganics.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.

Contact Information

  • Contact:
    Latteno Food Corp.
    Investor Relations
    (714) 382-6808
    info@latteno.com