FT LAUDERDALE, FL--(Marketwired - Jan 31, 2017) - PotNetwork Holdings Inc. (OTC PINK: POTN) (the Company) is pleased to announce that the Company has acquired First Capital Venture Co., and its wholly owned subsidiary, Diamond CBD Inc.; organizations focused on the advanced research and development of the industry's finest premium hemp extracts and making them available to the global marketplace. The Company's notable team, consisting of hemp industry pioneers and natural product experts, chemists, and scientists, is dedicated to producing the finest and purest Cannabidiol (CBD) oil.
Setting the Company ahead of its competitors, First Capital Ventures Inc and Diamond CBD Inc. deliver advanced product quality to market through the team's creation of diverse and top quality hemp extracts that contain a broad profile of cannabinoids and other natural hemp derived molecules. The result is a robust selection of Diamond CBD Oils, made from Industrial Hemp, which enhances the formula to be considered among the most powerful natural CBD E-Liquids on the market.
With science being considered the Company's biggest ally, Management's goal is to constantly improve and innovate. This is the foundational core of the Company's motivation to continue investing resources into cannabinoid research, professional education, and product development. Diamond CBD's commitment to science is embodied in the Company's exhaustive testing requirements, starting with its proprietary hemp oil and extending to every single product brought to market.
"This advantageous acquisition empowers the Company to continue building a growing presence in the marketplace with its entrance into the CBD essential oil manufacturing sector. Like every aspect of this budding industry, the CBD sector is poised for strong growth. In our search for lucrative venues for expansion, this opportunity has proven to have the best upside potential for Management and shareholders alike." stated Gary Blum, Chief Executive Officer, PotNetwork Holdings Inc.
First Capital Ventures Inc. and Diamond CBD Inc. will become a new wholly-owned subsidiary for PotNetwork Holdings, Inc., bringing the Company back into the thriving Marijuana marketplace. Sunrise Auto Mall continues as the Company's existing wholly owned subsidiary, and Management's strategy remains to continue operations. The Company has retained an attorney to prepare and file a Regulation A+. Management anticipates the spin-off of Sunrise Auto Mall to be completed by the end of second quarter 2017.
He concluded: "We are keenly focused on enhancing the overall revenue generating potential and shareholder value of our Company, and want to once again thank our shareholders for their continued support as we embark on this new endeavor." This acquisition, involving the mobilization of a new revenue generating operation, demonstrates Management's resolute drive to become a notable contender, capitalizing on the expansion of the cannabis industry.
The size of the market for legal marijuana in the United States was projected to grow to $7.1 billion in 2016, according to a report by New Frontier and ArcView Market Research. That represents 26% growth over the previous year, according to research cited on Forbes.com website. Management concurs with the growing understanding that CBD oil offers tremendous potential in the medical field.
On December 12, 2016, Forbes.com also reported that "The Hemp Business Journal estimated that the CBD market will grow to a $2.1 billion market in consumer sales by 2020 with $450 million of those sales coming from hemp-based sources. That's a 700% increase from 2016."
Diamond CBD has been an innovative leader in this industry for years. The products are distributed in all fifty states, USA-made, and produced with CBD derived from the industrial hemp plant. According to the National Institute of Drug Abuse (NIDA), CBD may be effective in controlling epileptic seizures, reducing pain and inflammation, and may also be an effective treatment for mental health disorders, such as addiction and various forms of psychosis.
The Company intends to keep shareholders fully updated as events continue to unfold.
About PotNetwork Holdings Inc: PotNetwork Holdings Inc. is a publicly traded company with two wholly owned subsidiaries, Sunrise Auto Mall Inc. and First Capital Venture Co. and its wholly owned subsidiary Diamond CBD Inc.. Sunrise Auto Mall, Inc. is a first-rate pre-owned auto dealership, launched in June of 2014, as an operation geared toward enabling people challenged with bad or no credit in securing quality transportation while simultaneously rebuilding the client's credit. The company has developed a highly profitable business model around the continually rising subprime lending industry. First Capital Venture Co. through its' wholly owned subsidiary, Diamond CBD Inc. is a progressive organization focused on the advanced research and development of the industry's finest premium hemp extracts and making them available to the global marketplace. The Company's notable team, consisting of hemp industry pioneers and natural product experts, chemists, and scientists, is dedicated to producing the finest and purest CBD oil.
Safe Harbor Act: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.