Palm Coast, FL, Aug. 15, 2018 (GLOBE NEWSWIRE) -- RushNet, Inc. (OTC Pink: RSHN) is now a co-owner, along with XYZ Hemp, Inc., formerly Gold River Productions, Inc., having acquired a significant stake in a high-quality Facilities & Land Industrial Hemp Cultivation and processing facility operating and registered in Mesa County within the Colorado Department of Agriculture.
Additionally, each company, RushNet, Inc. and XYZ Hemp, will have their own separate Hemp Cultivation and processing operations, apart from what is co-owned. Details are forthcoming.
Members of the scientific team managing this operation were employed and trained by Tikun Olam, one of the world's foremost, scientifically backed, medical cannabis brands. Tikun Olam is an international cannabis wellness brand sold in Israel, Canada, Australia, and the U.S., reaching tens of thousands of patients worldwide. Tikun Olam became the first provider of medical cannabis in 2005 and then made history as the first company to receive a government-issued license to supply cannabis in Israel, in 2007. Tikun Olam collected the data that now forms the world’s largest medical cannabis treatment database containing more than 17,000 patient records including their conditions, symptoms, strain usage, dosage and associated levels of relief and improvement in quality of life, over the years. Tikun Olam works with a variety of patients including the elderly and children, with conditions as HIV/AIDS, PTSD, epilepsy, chronic pain, cancer, Colitis or Crohn’s disease, depression, anxiety and many more.
We are confident that the expertise of this operation will significantly ameliorate the risks, and ultimately be a significant factor in making this the success we all envision.
This significant stake acquired will also include four additional annual indoor harvests to be realized from the greenhouses that are now under construction. A significant number of plants have already been purchased and planted and details are forthcoming that will further elaborate on the magnitude and the constitution of operations. The company plans to put into production additional outdoor acreage in 2018 and 2019. Pictures of the outdoor and indoor cultivation projects will soon be available on the company’s website and/or through its social media site.
Industrial Hemp is regulated by the Colorado Department of Agriculture. Statutory authority for the Industrial Hemp Program is provided in Colorado Revised Statutes, Title 35, Article 61. As defined in Colorado Revised Statute, Article 61, section 35-61-101(7) Industrial Hemp means a plant of the genus Cannabis and any part of the plant, whether growing or not, containing a delta-9 tetrahydrocannabinol (THC) concentration of no more than three-tenths of one percent (0.3% THC) on a dry weight basis. Therefore, invariably, Industrial Hemp does not fall under the licensing requirements of marijuana for production or sale.
RushNet has not issued any new shares into the market over the past several years. The share structure for the past several years has remained intact. The company will be transparent and the stock transfer agent, Mountain Share Transfer, LLC., will be available for shareholder verification. There are currently no convertible debentures, Section 3(a)(10) share issuances, or any other pending dilution associated with the company. Please stay tuned for further announcements as we endeavor to create value for our shareholders.
Safe Harbor Statement:
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. Such statements include any 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", "likely", "should", "could", "would", "may" or similar words or expressions. 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 in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.
CONTACT: RushNet, Inc. [email protected] www.XYZHemp.com @RSHNOTC @XYZHemp
Edited by Maurice Nagle