SOURCE: U.S. Energy Initiatives Corp.
SANTA CLARITA, CA--(Marketwired - Apr 30, 2014) - USEI CANNABIS INITIATIVES CORP, A WHOLLY OWNED SUBSIDARY OF U.S. ENERGY INITIATIVES CORPORATION, INC. (OTC Pink: USEI) (PINKSHEETS: USEI) is pleased today to USEI Cannabis has reached an agreement in principal to enter into a strategic partnership with two purveyors of proprietary, high end Nicotine and Cannabis delivery systems and accessories. We are very excited to be entering this space with multiple partners whom we are confident will supply products with the level of quality in vaping devices, Ejuice liquids, and Cannabis that consumers are seeking. According to Wells Fargo, which assiduously tracks the e-cig market, sales are expected to hit $10 billion by 2017. That's still just a relatively small percentage of the overall $100 billion tobacco industry, but with triple-digit growth rates still in its future, e-cigs have the potential to eventually surpass tobacco sales.
According to Anthony Miller CEO, "We believe these ventures will allow USEI to be very competitive in this arena. The names of the groups will be announced within the next 10 days after final terms are completed along with websites of the products. These products have proprietary elements to them, which we feel is an added advantage over currently available products (these products will be marketed in Colorado and to a nationwide market)."
According to an excerpt from a USA TODAY article dated March 17, 2014: "Just as e-cigarettes have transformed the business and national debate over tobacco smoking, e-cig technology and vaping are bringing major change to cannabis culture and business -- even altering the way pot is packaged and sold in states where it is legal for medical or recreational purposes. Steve DeAngelo, a marijuana entrepreneur and activist who founded the Harborside Health Center medical marijuana dispensary in Oakland, says the arrival of compact, portable, microprocessor-controlled vaporizers and advances in extracting active ingredients from cannabis plants have caused a shift in consumer demand. Some dispensaries such as his and many in Colorado, where recreational pot is legal, now do roughly 50% of their business in raw marijuana leaf or flowers, and the rest in edibles and concentrates, some prepackaged in cartridges for use in vape pens," he says.
"We will continue to develop products for the Real McCoy brand in the coming months; including some products targeted to growers of cannabis. We have been actively developing our edibles, waxes, extracts, topical, butter and candies and a few of those products can be found on our website at http://www.useicannabis.com/web/products/... We are a little behind in getting them into the marketplace at the end of this month, but we believe that they will get to market very soon. We are actively working on a number of ventures in Colorado that to will be announced in due time; and will also be ready when Washington state opens this summer to do even better there. We have had a presence in Washington for over 5 years and believe that USEI's business there will be more on target. We have very ambitious goals and objectives for USEI Cannabis and we believe that we will have a very long presence in Colorado and Washington, and wherever cannabis is legal. Our objective is to create a foundation here that will be instrumental in our continued conquest 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/," further commented Miller.
About U.S. Energy Initiatives: U.S. Energy Initiatives Corporation is a diverse (OTC Pink: USEI) (PINKSHEETS: USEI) energy firm. This firm started in 1996 and has had a long successful business history of developing its business strategies. Management's new goal is to develop its old and new technologies and to build a dynamic and diverse firm. From 2014-2015 U.S. Energy Initiatives will center on hemp to energy, everything cannabis related and developing products and services for the marketplace. Our goal here is to become an environmentally responsible firm, marketing our products to a worldwide audience to produce significant revenue and add value for our shareholders.
DISCLOSURES: "Safe Harbor" statement under the Private Securities Litigation Reform Act of 1995: This press release may contains forward-looking statements that are subject to risk and uncertainties, including, but not limited to, the impact of competitive products, product demand, market acceptance risks, fluctuations in operating results, political risk and other risks detailed from time to time in the Company's filings with OTCMarkets.com and as required to the Securities and Exchange Commission. These risks could cause USEI's actual results to differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company.