SANTA CLARITA, CA--(Marketwired - Dec 1, 2016) - USEI CANNABIS initiatives CORP, a wholly owned subsidiary of US ENERGY INITIATIVES CORPORATION, INC. (OTC PINK: USEI) is pleased to announce today that the Directors of USEI have approved a 20% restricted common stock dividend for shareholders of record on the company's record dated (estimated to be December 15th 2016). Management will be filing a Corporation Action with FINRA to issue a restricted stock dividend. The dividend will be added to the shareholders' existing shares on the pay date. Details of the transaction will become available to the shareholders once FINRA has approved the Corporate Action.
According to Anthony Miller, CEO, "For the third time we have decided to award all of our loyal shareholders with this additional stock because they have stuck with us through our new transitional phases; to now where we see some growth and significant optimism. Many of our shareholders have held this stock for many years, and they along with newer shareholders, will now become beneficiaries of our anticipated growth. This venture has been quite challenging over the last couple years. We have sought to raise some significant capital to capitalize on a significant technology development that is in the cannabis space (super critical C02 extraction technology). Our goal was not to procure highly dilutive capital since USEI's share value was already depressed. To date we have a commitment for capital however, we have yet to receive it... but, have hopes that we will be able to secure the capital required.
With the advent of California approving recreational marijuana which is projected to be a 25 billion dollar industry, management believes that our experiences over the last 3 years and connections within the industry, as well as, technology positions USEI to benefit from this new law. One of the most significant advantages for us is that the company and management are all California residents... and that was our limitations as we sought to get business done in Colorado and Washington.
In the coming weeks we will begin to restore USEI to a current status with all of the reporting agencies as well as OTC Markets and add all of the required financial filings. The goal is to put the firm into the position to benefit from incredible options and strategic partnerships that will grow this company. Management recognizes that the last couple years have been less than perfect... but we are still working hard every day, to increase share value in this firm and build an incredible firm that focuses on energy and cannabis. We appreciate shareholders' patience and hope that this new vision will be the best path possible...and that 2017 and beyond will be our better years," commented Miller.
About U.S. Energy Initiatives: U.S. Energy Initiatives Corporation (OTC PINK: USEI) is a diverse energy firm. USEI and its wholly owned subsidiary USEI Cannabis business' centers on hemp to energy, everything cannabis related and developing products and services for the marketplace. Our Ultimate Cure & Real McCoy Genuine Products: we market vapor pens and accessories, topical ointments, cannabis oils and tinctures all under these same names. Our goal here is to become an environmentally responsible firm, marketing our products to our audience to produce significant revenue and add value for our shareholders. We have very ambitious goals and objectives for USEI Cannabis and we believe that we will have a very long presence in Washington, Oregon, California and wherever cannabis is legal. Our objective is to create a foundation that will be instrumental in our continued efforts to capture our market-share and create viable products that meet our goals and objectives for these markets. For more information regarding our strategies it can be found on the company's website @ www.useicannabis.com/web/.
DISCLOSURES: "Safe Harbor" This press release contains forward-looking statements including statements regarding the timing of the revenue from the partnership and the partnership's success. The words "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward looking statements include consumer reaction to our Cannabis products and new regulations which affect the distribution of these products. Further information on our risk factors is contained in our filings with the OTC Markets. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.