HUNTINGTON BEACH, CA--(Marketwired - Mar 13, 2014) - W Technologies, Inc. (PINKSHEETS: WTCG) (www.wtechnologies.biz) announced today that its Joint Venture Partner, 420 Innovations LLC, is seeking licenses to become a retail seller of medical marijuana in both Colorado and Washington State and the same time it plans to continue to identify immediate opportunities within the existing market of California. The aggressive expansion of licenses in the medical marijuana sector marks a bold move for the future direction of 420 Innovations LLC, and its Joint Venture partner, W Technologies, Inc.
Ronald Costa, President of SoMo Technologies, Inc., a subsidiary of W Technologies, Inc., said, "We've said this over and over again, and it merits saying once more, that the two biggest factors of a successful business are a mobile marketing campaign and the number of people who see it. Through our mobile marketing subsidiary our social media concepts will be applied to the products that 420 Innovations produces and sells, both on a wholesale basis to retailers and direct to consumers through the Internet, where legal." Mr. Costa went on to say, "As more states consider the legalization of marijuana, and not unlike other companies such as Terra Tech and FusionPharm, and many others, 420 Innovations is considering the expansion into other products and facets of the business, not limited to the processing and sales of marijuana, but also into related products where our social media concept can and will be useful. Many people predict that the current growth trend in the legal marijuana industry is poised to experience dynamic expansion and the regulated, domestic cannabis market, as well as other related products, could grow from what has been estimated to be approximately $1.5 billion to $20 billion over the next several years."
Gary Koelsch, President of W Technologies, said, "Our plans and focus are on growing W Technologies, its subsidiaries and Joint Venture partners to create steady and increasing revenue streams for the Company. With access to the capital markets necessary to fund the Company's aggressive growth plans, we believe the opportunities which the Company has in sight are significant."
About W Technologies, Inc.
W Technologies, Inc., whose stock is publicly traded under the symbol WTCG, is a diversified holding company with the mission to develop, manage and finance emerging companies. W Technologies will be involved in the development of new social media and digital advertising technologies, on-line shopping, new environmentally-safe oil and gas recovery technologies, new clean water technologies, and financial services involving residential and commercial real estate. The Company expects to bring a paradigm shift in the use of these new technologies in the respective business sectors and to develop new methods to finance its affiliated companies. Through its subsidiaries and affiliates with their experienced personnel, W Technologies will seek to grow through acquisitions, joint marketing arrangements and organic growth in emerging markets.
Precautionary and Forward-Looking Statements
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 Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude or risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's disclosures or filings with OTC Markets, Inc. You are further cautioned that stocks of smaller companies like W Technologies, Inc. are inherently volatile and risky and that no investor should buy this stock unless they can afford the loss of their entire investment.