DALLAS, TX / ACCESSWIRE / June 16, 2015 / SutimCo Inc. (OTC PK: SUTI) (“The Company”) The company is pleased to announce it has entered a preliminary agreement to negotiate with a medical marijuana dispensary in Portland, Or. The company will offer a LOI to start formal negotiations for a partnership. An update will follow on the results.
We are very excited to start our endeavor in the Marijuana sector of the market. We hope this to be the beginning of a successful marketing campaign to acquire, merge and partner with established Marijuana companies. A physical presence in the Northwest region of the country where two legalized Marijuana States of the Union are separated by an invisible line, we feel that the company is at a strategic geographical area to expand our interest in the Marijuana Industry thus creating greater shareholder value. Stated Jorge Luis Saenz, Sutimco / ProTek Capital CEO.
Recently, the company announced the following changes and updates:
The company is pleased to announce the hiring of a new CEO, Jorge Luis Saenz.
Mr. Saenz has an impressive resume and a great track record in Cannabis and Marijuana market sectors.
He is not only a great executive and content expert in MJ industries, but he is also a shareholder in our company.
Jorge Luis Saenz is Co-owner and CEO of Vaping Dragon Industries of Washington County, Or. It’s located west of the City of Portland with its subsidiaries Kolbe Global Logistics, EcoVape and our new Medical Marijuana nursery named Flowers by Day with growing strains of Obama, BlackBerry and Mendocino Kushes along with their Sweet Wreck and Blue Dreams strains. The company is focused on practicing medicinal marijuana in the industry through its grow operation, its cannabis infused vape oil and their soon to be different concentrates. Co-owner Brian Day is their grower and pharmacist and he brings over 15 years experience. Co-owner Christopher Crawley is their logistics professional with over 20 years experience. Jorge and his team are dedicated to bring premium products and services to patients who seek comfort for their bodies with natural medicine instead of those that are chemically manufactured. Jorgehas encountered a sea of medical marijuana companies in the Northwest United States that are in sync with the ultimate goal of replacing traditional chemical medicine with nature’s own. He will concentrate to partner, merge and or acquire such companies that meet high standards throughout the US. Also, he will find companies that cater to the industry through all kinds of paraphernalia that pertain to Marijuana. With the recent passing of legalization in five states of the Union, retail sales will lead to more opportunities to merge, partner and or acquire such companies along with Jorge’s own projectsthat are in the idea and development stage. He believes in disruptive innovation and he used it to develop EcoVape. Jorge’s first priority will be to get SUTI structurally sound and create a business plan with milestones in order to compete with other like companies that are vying for these young and upcoming businesses in this young sector of the market. The first round of action is to partner, merge and or acquire the following; a grow operation, a medical dispensary, a courier service and a paraphernalia company. He will also introduce project ideas to the SUTI Board of Directors for approval and introduction to the markets.
This is a great opportunity for me to showcase my knowledge and experiences in this new and exciting market segment. I have a great understanding and knowledge of our company, and will work on developing the companys plans to enhance its portfolio. I will be focused on re branding the company and its name, while finishing the commitments and developments of the prior CEO, such the dividend to PRPM and the completion of the spin off so that our company will emerge with cleaner balance sheet and reduction of the liabilities thats well over three million dollars ($ 3,000,000.00) . Im excited to have a close relationship with two public companies and will work in tandem to ensure their open communication, transparency and business developments to achieve a better position in the market as well as constantly striving to enhance the shareholders value. Stated Mr. Saenz, CEO SUTI INC.
Recently The Company Announced:
The management has signed an acquisition agreement with a dynamic new company; DMND INC., from Newport Beach CA. www.dmndinc.net (Diamond Inc.) This new addition enhances and confirms the managements focus and goal to expand and take a greater position in the Cannabis/MJ markets.
DMND Inc., as the company is specializing in the new and emerging Marijuana markets. The new addition is primarily focused on Merger, Acquisitions and servicing this new and exciting industry.
The company is also proud to announce the spin off into private sector one of the core businesses in SUTI, Sutimco International Inc.The Sutimco International Inc.,will be operating on its own, as the new private company, while the Holding public company SUTI Inc, will continue trading on the public markets and pursue the development and focus of its wholly owned subsidiary; Luxuriant Holdings Inc. Sutimco International Inc., will retain its current assets as well as retaining with the spin off most of its previously incurred liabilities.
This change will not affect the current public trading and/or regulatory compliance. The company intends to file with FINRA for the new name change and a new cusip number immediately. The spin off completion is anticipated by the end of Q2.
Im extremely excited to see the spin off go through. As the companys CFO Im happy to see that the liabilities, which are over three million dollars (approx. $ 3.5 plus million), that were incurred prior to our acquisition of the company will stay with the spin off company. Starting Q2 2015, this reduction in liabilities will allow our company to grow without such financial burden. I believe that a much healthier balance sheet and financials can help us to attract new investors and candidates for merger and acquisitions. Stated Mr. Tassan, CFO SUTI INC.
Thank you,
The Management, Sutimco Inc.
Some of the best recent Quotes:
“In strict medical terms marijuana is far safer than many foods we commonly consume. For example, eating 10 raw potatoes can result in a toxic response. By comparison, it is physically impossible to eat enough marijuana to induce death. Marijuana in its natural form is one of the safest therapeutically active substances known to man. By any measure of rational analysis marijuana can be safely used within the supervised routine of medical care.” – [DEA Administrative Law Judge – 1988] Francis Young
“When I was a kid I inhaled frequently. That was the point.” – Barack Obama, U.S. President quote on Marijuana
“I enjoy smoking cannabis and see no harm in it”. – Jennifer Aniston quote on Marijuana
“At the end of 2014, 15,992 people were licensed to work in the marijuana industry in Colorado alone, an increase of 143% over the previous year.”
“A recent report from The ArcView Group, a cannabis research and investment firm, dubbed legal marijuana the fastest-growing industry in the U.S. and valued it at $2.4 billion in 2014 – the year legal, recreational marijuana sales first started in Colorado. ArcView is expecting the industry to grow by another 32% this year.”
“I think people need to be educated to the fact that marijuana is not a drug. Marijuana is a flower. God put it here” – Willie Nelson
“2014 was the year where the cannabis industry went from being an interesting casual conversation to something any serious business person has given a fleeting thought,” said Troy Dayton, cofounder of The ArcView Group. “Unlike other new industries, the demand for cannabis and related products already exists, driving the sector’s rapid growth. The industry grew from $1.5 billion in 2013 to $2.7 billion in 2014 – a 74% increase in one year, according to The ArcView Group’s latest market analysis report.”
“Federal and state laws (should) be changed to no longer make it a crime to possess marijuana for private use.” – Richard M. Nixon
About Sutimco Inc.
Sutimco Inc., is a development corporation with a focus and design to enter a new and emerging Medicinal and Recreational use Marijuana and Cannabis market sectors. The company is developing relationships and contracts with product and service providers that cover all aspects of this new and emerging market sector.
Forward-Looking Statements:
The information posted in this release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify these statements by use of the words “may,” “will,” “should,” “plans,” “expects,” “anticipates,” “continue,” “estimate,” “project,” “intend,” and similar expressions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. These risks and uncertainties include, but are not limited to, general economic and business conditions, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing various engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, shortages in components, production delays due to performance quality issues with outsourced components, and various other factors beyond the Company’s control.
This release includes 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. Certain statements set forth in this press release constitute “forward-looking statements. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”, “planning”, “expect”, “believe”, “will likely”, “should”, “could”, “would”, “may” or words or expressions of similar meaning. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company’s actual results and financial position to differ materially from those included within the forward-looking statements. Forward-looking statements involve risks and uncertainties, including those relating to the Company’s ability to grow its business. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties include, among others, the Company’s limited operating history, the limited financial resources, and domestic or global economic conditions — activities of competitors and the presence of new or additional competition and conditions of equity markets.
Contact: stassan@sutimcointernational.com
SOURCE: Sutimco, Inc
ReleaseID: 429880
