New Acquisition and Market Expansion.
DALLAS, TX -- June 16, 2015 -- InvestorsHub NewsWire
-- 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
