Green Leaf Farms Holdings Owned 80% by Players Network Received both Nevada State Approval as well the Use Permit from the City of North Las Vegas for Two Applications to proceed with Medical Cannabis Cultivation and Production
LAS VEGAS, NV / ACCESSWIRE / November 24, 2014 / Players Network (OTCQB: PNTV), is a diversified company with holdings in two primary areas; Medical Marijuana and Media. The Company owns 80% of Green Leaf Farms Holdings as well as technology and television distribution to develop, own, and operate Branded Television Networks and Lifestyle Channel Destinations. The Company announces a Shareholder Update from Mark Bradley, CEO of Players Network ("PNTV" and/or "Company").
Dear Shareholders, I wanted to take this opportunity to report and update you on recent accomplishments and our going forward plans. Specifically, I wanted to cover the following:
- Green Leaf Farms Update and Next Steps to operationalize and begin to generate revenue.
- Brand Strategy for Green Leaf Farms
- Synergy with WeedTV an our media operations
- $150 Million Comcast Complaint Update
The initial decision to launch Weedtv.com earlier this year was largely based upon the opportunity to be a first mover in what was obviously going to be one of the largest and fastest growing business sectors. The expansion into medical marijuana operations was a logical extension of this decision to provide both a core revenue engine as well as a source of products and services to market through our media assets. A foundation of our business model is to use both traditional media and new social media drivers to attract audience and build a consumer database within a branded lifestyle destination. The cannabis community is an extraordinary marketplace and ideally suited to this model. Having both a media outlet as well as consumer product business provides the Company a strategic business combination distinct from all other competitors in this space.
Green Leaf Farms Holdings
First, I cannot emphasize enough the importance of the recent Green Leaf Farms Holdings ("GLFH") Nevada State approval and how this positively impacts our company. As previously announced GLFH is owned 80% by PNTV and has raised approximately $1.0 million of capital on a $10.0 million valuation giving PNTV an $8.0 million asset. With the Nevada State Approval this value has significantly increased and will increase again once the facilities are open. GLFH is the contract purchaser of 3.2 acres of land that will allow for a cultivation and production facility of up to 70,000 square feet. We are aggressively proceeding with all requirements to complete our Medical Marijuana Cultivation and Production Facility and begin operations estimated to be mid 2015. These operations will provide core revenue to grow the Company. Based on evaluating the emerging Nevada market, our consultants conservatively estimate that the facility will generate $12 to $14 million of annual revenue in its first year of operation and increase as the demand for medical marijuana increases. If recreational use of marijuana is approved in Nevada this would substantially increase demand and revenues. We will be announcing more details as we complete these plans.
Brand Strategy For Green Leaf Farms Holdings
The Green Leaf Farms Brand will be used as a consumer brand in our product development as well as branding for additional facilities. This brand equity will be used to expand into other states as they receive legislative approval. The Company will not expand beyond Nevada until this is compliant with Federal laws. PNTV is one of only two fully reporting and compliant OTCQB companies to receive approval of medical marijuana establishments.
Synergy of Brick and Mortar Business with Media Assets
While developing WeedTV.com, our team realized we could implement a vertical strategy to utilize our media platform to drive business to our MME business. Through the audience and reach of WeedTV.com, we will build brand value and cross market our own Medical Marijuana products, as well as generate additional revenues by marketing other products and services to this consumer audience.
The emerging Medical Marijuana industry is mainly comprised of local dispensaries, edible brands, grow houses (cultivation), equipment manufacturers and testing labs. WeedTV.com's approach to companies in this industry is to form a meaningful relationship with targeted content and interaction with new customers and business partners. By leveraging media, the platform builds long-term brand equity and connects consumers to businesses. This is accomplished through fresh and relevant content such as professionally produced branded television segments, user-generated videos, blogs, editorials, tweets (twitter), photos, special offers, events and custom-designed contests to engage both consumers and businesses with their brands and services.
$150 Million Comcast Complaint
We are pleased to report that both parties are proceeding with discovery and have set a deposition schedule to begin in early December of 2014 to report findings to the court in late December. In addition, the parties have exchanged discovery documents that the Company feels support the merits of the complaint and witnesses will be examined in that regard. We will provide a further update upon completion of this discovery in mid to late December 2014.
Summary
Players Network has expanded the Company's direction into the medical marijuana market. The synergy with Weed TV and our growing media and technology assets provides a significant strategic advantage in marketing our products and services.
The approval of the medical marijuana cultivation and production facilities will provide Green Leaf Farms Holdings and Players Network a consistent source of recurring revenue and cash flow to build upon. This is an extraordinary and game changing win for the Company.
I look forward to reporting on our continued progress and wish everyone and their family a happy and healthy Thanksgiving.
Thank you your support and belief in what we are creating.
Sincerely,
Mark Bradley
CEO
Players Network
About Players Network:
Players Network is a diversified company with holding in Medical Marijuana and Media. The Medical Marijuana asset is primarily through the Company's 80% ownership in Greenleaf Farms Holdings. The Company that uses its proprietary Enterprise Web Platform to develop Branded Digital Lifestyle Television Networks for itself and its partners in a wide range of lifestyle categories. Players Network's current original channels, "Players Network", "Vegas on Demand", "Real Vegas TV", focus on Las Vegas and Gaming Lifestyles. The newest channel "WeedTV.com focuses on the rapidly expanding cannabis community. These channels are distributed over PNTV’s owned and operated VOD Channels on TV in over 23,000,000 homes over Comcast, its Broadband Network and Mobile Platforms, on Hulu, Google, YouTube, Blinkx and Yahoo Video, on DVD, and through worldwide television syndication. For more information please visit www.playersnetwork.com.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this Release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to: the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to continue to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.
CONTACT:
Media Inquiries Contact
Lisa Mayo-DeRiso
702.576.2659
Investor Inquiries Contact
Parker Mitchell
702-575-9157
SOURCE: Players Network