Cannabis Kinetics Corp. and The Big Tomato Receive Repeat Coco Coir Purchase Order
WESTMINSTER, Colo., Nov. 7, 2014 /PRNewswire/ -- Cannabis Kinetics Corp. (OTCQB: CANK) ("Cannabis Kinetics" or the "Company") an emerging fully integrated cannabis management company, is pleased to announce that The Big Tomato has received an additional purchase order to supply Monarch brand Coco Coir growing medium to a retail and grow facility management company based in Colorado.
As a result of the new purchase order, Cannabis Kinetics will ship an additional 1,600 bags of Monarch Coco Coir to The Big Tomato. This purchase order quantity is in excess of the previously disclosed estimate of 1,000 - 1,500 bags per month for this single user. Based on discussions with The Big Tomato, Cannabis Kinetics anticipates futures orders from this purchaser to be at the high end of that previous estimate. The purchaser currently provides branding and fulfillment services to multiple retail outlets and growing facilities in the Denver area with plans to expand into other regions.
"This is a very positive event for Cannabis Kinetics because a quick and larger reorder from an existing customer of our Monarch brand Coco Coir clearly demonstrates the current demand for this versatile and effective growing medium," commented Eric Hagen, CEO of Cannabis Kinetics Corp. "The two recent large orders from this single customer through The Big Tomato in Colorado have now taken up most of our current Coco Coir inventory. To meet demand, we have instructed our exclusive supplier and importer, Ivory Coco International, to secure and ship additional high-quality Coco Coir from Sri Lanka to their processing and storage facility in Colorado."
Coco Coir is an all-natural growing medium made from ground coconut husks popular among commercial and home growers and other indoor and outdoor gardening operations. Cannabis Kinetics acquires, markets, and distributes the highest quality Coco Coir from India and Sri Lanka under its national Monarch brand.
Cannabis Kinetics files reports with the Securities & Exchange Commission on EDGAR and anticipates continuing to file such reports. The Company's filings can be viewed at www.sec.gov.
Additional information regarding the Company can also be found on its website at www.CannabisKinetics.com.
Contact:
Cannabis Kinetics Corp.
Toll-Free: (888) 668-2280
E-mail: [email protected]
Website: www.CannabisKinetics.com
Cautionary Language Concerning Forward-Looking Statements
Statements in this press release may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "anticipate", "believe", "estimate", "expect", "intend", and similar expressions, as they relate to the company or its management, identify forward-looking statements. These statements are based on current expectations, estimates and projections about the company's business based, in part, on assumptions made by management. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict, including whether Cannabis Kinetics Corp. will sell Coco Coir to the purchaser discussed in this press release or to others. Therefore, actual outcomes and results may, and probably will, differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including those described above and those risks discussed from time to time in Cannabis Kinetics Corp.'s filings with the Securities & Exchange Commission. As a reporting issuer with the Securities & Exchange Commission, Cannabis Kinetics Corp. files Quarterly and Annual Reports and other documents on EDGAR. We strongly urge all persons to read our filings at www.sec.gov, which are publicly available, in conjunction with this press release as we are in a highly regulated industry that requires thorough research prior to making any decision regarding a company, particularly an investment decision. In addition, such statements could be affected by risks and uncertainties related to Cannabis Kinetics Corp.'s (i) product demand, market and customer acceptance of its equipment and other goods, (ii) ability to obtain financing to expand its operations, (iii) ability to attract qualified management representatives, (iv) competition, pricing and development difficulties, (v) ability to fully implement our business plan as a result of being a reporting issuer with the Securities and Exchange Commission, and (vi) general industry and market conditions and growth rates and general economic conditions. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place undue reliance on such statements. Cannabis Kinetics Corp. does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement. Actual results may differ materially from Cannabis Kinetics' expectations and estimates. Information on Cannabis Kinetics Corp.'s website does not constitute a part of this release.
SOURCE Cannabis Kinetics Corp.
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