TROY, Mich., Nov. 03, 2015 (GLOBE NEWSWIRE) -- Viper Networks, Inc. (Pink Sheets:VPER) is pleased to announce that the Company enters the lucrative cannabis cultivation marketplace with its state-of-the-art LED lighting solutions, through the implementation of a strategy to equip a 50,000 square foot harvesting facility planned for construction in the State of Washington.
The Company has conducted thorough due diligence on the industry, and the intricate demands required for robust and healthy harvesting results. Continually evaluating the exponential growth in the cannabis industry, the Company's strategic business model for this industry is to deliver cutting edge smart grow technology to its clients.
Farid Shouekani, President and CEO, commented, “Washington State, a national forerunner in marijuana legalization, raked in more than $70 million in taxes during just its first year of legal and regulated marijuana sales, roughly doubling the state's original marijuana tax revenue forecast of $36 million. These figures represent in excess of 22,000 pounds of marijuana and 700,000 marijuana-infused edible products, including both solids and liquids. We are very excited to be bringing our cutting edge LED technology into a market with such exponential growth potential as the fast-growing cannabis industry.”
Mr. Shouekani commented further, “The state of Washington has approved in excess of 6 million square feet of plant canopy to produce marijuana to date, according to data from Washington State Liquor Control Board. We are also pleased to announce that based on the overwhelming potential, we have started due diligence on direct investment opportunities.”
Although the Company first began developing their Fast Grow LED technology in Saudi Arabia for creating abundant vegetation for livestock feed throughout the Middle East, global demand for faster vegetation/plant growth from other industry sectors has positioned Viper Networks for greater expansion in multiple areas; including the rapidly developing market of legal marijuana growth and sales throughout the United States.
Legal marijuana is the fastest-growing industry in the United States, a recent industry report has found. If the trend toward legalization spreads to all 50 states, expansion in the marijuana industry could potentially exceed the growth of the organic food industry.
For more information, please visit the Company's products and services at www.ViperNetworks.com
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Source:Viper Networks, Inc.