LAGUNA BEACH, CA / ACCESSWIRE / August 9, 2017 / Ross Lyndon-James, CEO, announced today that AgTech Global Inc. (AgTech), a subsidiary of True Colors International (OTC PINK: TUCL) has entered into an agreement with a pioneering executive in the US Hemp industry, creating a new Joint Venture U.S. limited liability corporation.
"This Joint Venture opens up AgTech's exciting near-term opportunities for our Controlled Environmental Agriculture business and further reinforces AgTech's objective in becoming a major supplier and brand leader in the emerging hemp market which has potential for rapid growth and serious profitability."
Tammy Dunn, General Manager, stated that, "Our Joint Venture strengthens AgTech's potential U.S. market leadership by utilizing our proprietary hydroponic technology for new product opportunities including the cultivation of hemp microgreens for use in hemp nutraceuticals and other hemp super-foods.
Additionally, as CBD Oil is a legal derivative of the hemp plant, AgTech plans production of the highest quality CBD Oil for use in medicinal supplements and other hemp products for both U.S. and international markets." Mr. Lyndon-James added, "This new Joint Venture represents an important entry into the emerging U.S. Hemp market which is projected to grow $1.8 billion by 2020. Our JV partnership will apply considerable resources and market expertise to capture a sizeable share of this large and exciting market."
About AgTech Global, Inc.
AgTech Global, Inc. is a provider of Controlled Environment Agricultural (CEA) solutions. AgTech was formed in response to key macro-market drivers such as population growth, urbanization and the expected effects of increasing pollution on food and water quality. CEA optimizes the use of resources such as water, energy, space, capital and labor by controlling growing conditions throughout the development of a crop in an enclosed structure such as a greenhouse, container or building. The Company's primary focus is the emerging Hemp industry where is will focus on Hemp nutraceuticals, hemp microgreens, hemp CBD oil, and hemp construction products. AgTech's patented hydroponic cultivation systems provide CEA to produce animal fodder/fresh barley sprouts, targeted for a pilot program in northern California for organic dairy farmers to increase the nutritional content of the feed for their dairy herds. AgTech has a range of certified organic, non-GMO fertilizers, nutrients and mold treatment products available for sale via retail and wholesale channels.
Forward looking information
This press release may contain forward-looking statements about the Company, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate," or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could," or "may."
Forward-looking statements, by their nature, are subject to risks and uncertainties. A number of factors - many of which are beyond the Company's control-could cause actual conditions, events or results to differ significantly from those described in the forward-looking statements. Forward-looking statements speak only as of the date they are made. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date forward looking statements are made.
For further information contact:
Tammy Dunn (949) 416-0050 x101
31642 Coast Highway, #202, Laguna Beach, California 92651
[email protected]
Ross Lyndon-James (949) 456-3972
31642 Coast Highway, #202, Laguna Beach, California 92651
[email protected]
SOURCE: AgTech Global Inc.