Latteno Food Corp. Acquires California-licensed Green Cannabis Collective Inc. Acquisition Allows Immediate US/Southeast Asia Expansion, Products Rollout and Revenue Building
SANTA ANA, Calif., March 25, 2013 /PRNewswire/ -- Latteno Food Corp. (OTC: LATF) announced today that it has acquired California-licensed Green Cannabis Collective Inc. to further expand its medical marijuana edible market. The main purpose of the Collective is to:
- Collectively and cooperatively cultivate, acquire, possess and distribute medical cannabis by and between Members of the Collective;
- To provide Members safe and affordable access to medical cannabis without fear of criminal liability;
- To provide for the safe and affordable distribution of medical cannabis to the Members;
- To establish collective cultivation projects and to distribute the product of such projects;
- To facilitate natural herbal remedies for chronically ill Californians with HIV, AIDS, chronic pain, chronic spasticity, glaucoma, arthritis, cancer, migraine, wasting syndrome and/or such other conditions for which licensed medical physicians may recommend various remedies;
- To collect, compile and conduct new research and a continuous record and history of herbal and alternative remedies and to make such records available for research, study and interpretative use.
Immediately after the acquisition and corporate restructuring between two companies, Latteno and Green Cannabis will have research scientists and medical physicians on staff at our Orange County research facilities to conduct ongoing experiment and research on medical marijuana and Oriental herbal medicine to cure terminally ill diseases such as HIV/AIDS and cancer to sick Californians as well as international clients in China and Southeast Asia.
The powerhouse of China, along with Southeast Asia, which includes the robust, dynamic countries of Vietnam, Singapore and Thailand, have outlets that have expressed an interest in using medical marijuana and herbal-based products to cure everyday diseases, such as migraine headache, back problems, skin care ailments, and depression. Two-thirds of the world's population is heavily concentrated in China and its bordering countries. A majority of the Asian population relies heavily on home-grown herbal products to cure everyday diseases. Latteno has been approached by several cannabis research and development facilities in California with ties to China's and Vietnam's herbal distribution networks. Negotiations are underway to send samples to those countries for patient testing and promotion among local physicians, with a goal of product rollout thereafter.
"We are very pleased to have this opportunity to dramatically expand our products line to the millions of booming consumers of US, China and Southeast Asia. With today's Green Cannabis Collective acquisition in place, we're confident that our combined synergy will be strong to further support a growing population and high consumer demand already in place. Latteno products could play an important role in curing everyday diseases and ailments in the US and Asian countries. We look forward to continuing our research/development with Green Cannabis Collective and hopefully, our jointly-developed products along with our exclusive distributorship products will be chosen for testing and then rollout in US, China, Vietnam, and Thailand by the end of second quarter 2013," stated Thu Le, CEO/President of Latteno Food Corp.
About Latteno Food Corp. (Latteno.com)
Latteno Food Corp. is an investment portfolio company that acquires food products, medical marijuana edibles and related products/services to enhance their growth and development. The company builds revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and product licensing or distribution agreements.
About Green Cannabis Collective Inc. (Green-Cannabis.com)
Southern California-owned and licensed medical marijuana dispensary and transporting. The specific purpose of this corporation is to collectively facilitate medical marijuana cultivation and transactions by and between qualified patient members of this corporation and/or primary caregiver members who have the oral or written approval or recommendation of a licensed physician, as permitted and authorized by the Compassionate Use Act of 1996 (Health and Safety Code section 11362.5) and the Medical Marijuana Program Act (Health and Safety Code sections 11362.7 – 11362.83).
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27a of the Securities Act of 1933, as amended and section 21e of the Securities and Exchange Act of 1934, as amended. Those statements include the intent, belief or current expectations of the company and its management team. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. Accomplishing the strategy described herein is significantly dependent upon numerous factors, many that are not in management's control. Some of these factors include the ability of the company to raise sufficient capital, attract qualified management, attract new customers and effectively compete against similar companies.
Contact: Investor Relations (714) 426-2955
SOURCE Latteno Food Corp.