LOS ANGELES, June 23, 2014 (GLOBE NEWSWIRE) -- Verde Media Group Inc. (OTC:VMGI) has announced it is in the process of creating a research and development laboratory set-up to determine the optimal strain of commercial cannabis to produce the highest cannabidiol (CBD) content possible. The laboratory will be able to select and optimize the most efficient cultivars for high CBD production and will be capable of clonal expansion for a much larger facility.
The overseas facility complements Verde Biotech Division's initiative to produce CBD oil for importation and distribution in the United States. The CBD initiative will be a joint venture with Phoenix Energy "PXE" that will co-finance 50% of the project cost. Using proprietary technologies developed by VMBD, highly concentrated CBD oil will be extracted and prepared for importation and distribution to the wholesale market.
CBD is a non-psychotropic phytocannabinoid that can be blended in food products for realizing medical benefits such as chronic pain treatments, cancer pains and neuro-protection for those afflicted by multiple sclerosis and epilepsy. The joint venture would use these selected strains highly concentrated in CBD and is expected to produce $5M revenues per annum.
Dr. Abidi, Ph.D. CEO of VMBD stated, "We are excited to set-up the R&D facility in Asia in order to select and optimize the most efficient cultivars with high CBD oils. The R&D facility will screen 8-10 cultivars for the highest levels of CBD oil with respect to humidity, temperature and light optimization."
About Verde Media Group Inc.
Verde Media Group Inc. is a publicly traded company listed on the OTC Markets trading under the stock symbol: VMGI. Verde Media Group Inc. The company consists of three divisions:
Agency Division- The innovative Agency division services- public relations, marketing, and transaction functions for corporate clientele.
BioTech Division- The Biotech Division manages a portfolio of biotech companies and the VMBD division undertakes the business of developing and producing high value bio-products from renewable biomass. The focus and criterion is to develop proprietary microbial technologies with low risk scale-up methods employing low cost feedstock.
Entertainment Division- The company operates a managed media company with production, distribution, development, and acquisition functions for film and television.
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The results described herein cannot be guaranteed. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions.
CONTACT: Verde Media Group, Inc., 310-954-9160 Email: firstname.lastname@example.org
Source:Verde Media Group