Continue to Site »
Site will load in 15 seconds

PSIQ Secures $2,500,000 to Become the Only Licensed Growing Farm and Processing Plant for Medical Cannabis and Hemp in eSwatini for a Minimum of 10 Years

The $2,500,000 is being held in Escrow subject to PSIQ receiving the exclusive 10 year license and related permits.


SUNRISE, Fla., Jan. 16, 2019 (GLOBE NEWSWIRE) -- PRESS RELEASE -- Profile Solutions, Inc. has announced the receipt of $2,500,000 to become the only licensed growing farm and processing plant for medical cannabis and industrial hemp in The Kingdom of eSwatini f/k/a Swaziland for a minimum of 10 years.

The $2,500,000 is being held in Escrow subject to PSIQ receiving the exclusive 10-year license and related permits in The Kingdom of eSwatini to (1) operate an advanced hemp and medical cannabis manufacturing facility to grow and cultivate cannabis in accordance with strict GMP global health standards; (2) distribute hemp and medical cannabis within the The Kingdom of eSwatini; (3) export hemp and medical cannabis worldwide; (4) operate a medical cannabis R&D lab and (5) build a training facility to create jobs for local eSwatini citizens.

PSIQ and Stem Ventures, Inc. have formed StemPro International, Inc. a Nevada corp. StemPro shall be owned 51 percent PSIQ and 49 percent Stem Ventures. PSIQ shall receive its 51 percent interest by assigning the rights to the only licensed growing farm and processing plant for medical cannabis and industrial hemp in The Kingdom of eSwatini once attained. Stem Ventures shall receive its 49 percent interest for payment of $5,000,000.

In the event PSIQ does not receive the required licenses and permits to become the only licensed growing farm and processing plant for medical cannabis and industrial hemp in The Kingdom of eSwatini on or before Feb. 15, 2019 unless mutually extended in writing by the parties, $2,500,000 shall immediately be returned to Stem Ventures.

Dan Oran, CEO of PSIQ stated, “To become the only licensed growing farm and processing plant for medical cannabis and hemp in The Kingdom of eSwatini, our mission has been to secure the required licenses, permits, land, resources and capital to commence operations. We believe Stem Ventures is the right partner to commence operations with. In addition to providing financing, we anticipate Stem Ventures being a value-added partner due to its investor base of financers, entrepreneurs and medical professionals as well as experience in all things cannabis."

Page 1 of 183
Next Page