TEMPE, AZ -- (Marketwired) -- 07/02/14 -- American Green (OTC Pink: ERBB) (PINKSHEETS: ERBB) has purchased the assets including all inventory, the business name and all web presence of Valley Hydroponics and Organics. This acquisition gives American Green a large market share in the general Sonoma area. The assets and inventory will be merged with American Green's newly acquired Green Universe as a dominant force in Sonoma. Green Universe was purchased just last week by American Green (http://www.bloomberg.com/article/2014-06-25/ab29s_lICbyA.html). Sonoma and the surrounding areas, especially the Emerald Triangle to the north, is a key area for Cannabis cultivation in the US. The company believes that operating in an area with so many skilled professionals provides a great market for American Green, but more importantly the opportunity to interact with those professionals.
According to American Green president Stephen Shearin, "Cultivation is a critical part of this industry. Without cultivation; no flowers. Without flowers; no products or medicine of any kind. As this market and the subsequent demand grows, working with the lifeblood of the industry (the cultivation professionals) is arguably one of the most important pursuits we can have. We're very happy to have a profitable location, made more so with this acquisition, to forge deeper contacts and relationships in the general Cannabis horticulture environment."
In other significant news, the company's president announced today that negotiations were successful for the return of 180,000,000 shares to the treasury. As a result of this, the company's "float" will be reduced by an equal number. The investment partners who agreed to the return will receive only their original loan documents back and may exercise them with the company's permission at a later date. No additional consideration to the investors was made in order to affect the return of the shares. Stephen Shearin adds, "This is a great example of what can happen when everyone connected with American Green focuses on the same thing - doing everything possible to make the company an overall success."
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NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's Securities and Exchange Commission reports and filings. Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, projects, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which they are made.
About American Green
American Green (OTC Pink: ERBB) (PINKSHEETS: ERBB) is a retail and medical marijuana company focused on growing cannabis businesses through the sale and use of innovative products and solutions. Formally Altitude Organix, American Green became the first publicly traded medical marijuana dispensary brand in the world.
Since 2009, the company has developed retail, brand, and commercial cultivating solutions with its licensed medical marijuana retail dispensaries. The Company has developed an "automated dispensary," called ZaZZZ, which will offer the company's proprietary cannabis products to qualified adults in the US and around the world under its "American Green" brand. Besides ZaZZZ, the company has several media properties, a cultivation division including Jurassic water, and is continually developing new product and growth opportunities.