Dallas, TX / ACCESSWIRE / October 28, 2014 / Algae International Group, Inc. (OTC: ALGA), through its operating subsidiary American Seed & Oil Company, Inc., announced today a medical marijuana pilot.
American Seed & Oil Company entered into a partnership agreement with an organization licensed in the State of Maine to grow Medical Marijuana. American Seed & Oil Company will work with the licensed organization to expand an existing medical marijuana operation. The purpose of the pilot is to validate the medical marijuana operation economics under the stress of a larger operation than currently run by the licensed organization. American Seed & Oil and the licensed organization plan to use what they learn to commercialize a larger medical marijuana operation in the future as evolving State and Federal laws permit. The two also plan to establish early brand recognition in the medical marijuana market place.
Arcview Market Research reported the legal American medical marijuana market in 2013 had a market value of $1.43 billion and is expected to reach $2.34 billion by the end of 2014.
American Seed & Oil Company is already the largest legal hemp grower in the State of Vermont.
About Algae International Group, Inc.
Algae International Group, Inc. (OTC: ALGA), through its operating subsidiary American Seed & Oil Company, Inc., is in the business of hemp production in Vermont to supply seed to the expanding hemp farming market, hemp based consumer products market, and hemp based construction material market. The Company is also piloting a number of other cannabis related products. For more information please visit www.americanseedandoil.com.
This press 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 (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.
CONTACT:
Mike Murphree
Phone: (972) 528-0162
Email: [email protected]
SOURCE: Algae International Group, Inc.