SANTA ANA, Calif., March 20, 2013 /PRNewswire/ -- Latteno Food Corp. (OTCPink: LATF) recently announced the signing of LOIs to acquire California-based licensing dispensaries and other food-related businesses. Today, LATF is pleased to inform our investors that acquisition candidates have been selected and several announcements will be made shortly. In addition to our medical marijuana edibles business, the company is also branching into the high demand/fast growth market of importing fresh seafood from exclusive distributors in Southeast Asia. Our plan this year calls for a forecasted revenue of at least $2,500,000 and $10,000,000 by year end 2015 which we'll be able to achieve by executing a two-prong strategy.
Part one of the growth strategy will be to offer our products throughout the United States. National expansion is underway as our planned-to-acquire businesses have already established to gain new US based customers as well as maintaining current ones. Achieving this will increase the brand and company's image to attract marquee clients and corporate sponsorships.
Part two of the growth strategy is to pursue international expansion to offer our products around the world. Establishing foreign presence in Southeast Asia and Canada along with potential exclusive distributorship with suppliers in Portugal and Asia, Latteno will vastly increase its global blueprint within the next 3-6 months.
The initial phase of marketing and distributing Latteno Food products has started but the company is forecasting the aggressive growth strategy will lead to substantial revenue generation in the short-term and has the potential to become a household name over the next five years.
There are three primary drivers of shareholders value in the growth strategy:
1. Revenue Growth: With 1-2 planned acquisitions in the next 30-60 days, we'll be on our way to achieve our targeted revenue of $2,500,000 by the end of this year.
2. Cash Flow Growth: Maintain profit margins to ensure cash balance is strong in preparation for future partnership and acquisition deals.
3. Positive Return on Investment: Work-in-progress to ensure shareholders will achieve the highest return on investment at all times.
The legalization of medical marijuana in several states has paved the way for a budding edible medical marijuana industry and the Company is expanding into this exploding new marketplace of medical marijuana and cannabis edibles.
Medical marijuana edibles have been popular ever since the 60s, when people would prepare it in the oven in brownie and cake mixes to stimulate the THC. Modern medicinal marijuana distributors and retailers have mastered preparing many different edible products. Now patients have several ways in which they can take their medication, in contrast to only being able to smoke or vaporize it.
"We are pleased to make great progress in upcoming acquisitions and growth in the edible marijuana and seafood importing markets," stated Thu Le, Chief Executive Officer. "Additionally, the due diligence on our planned acquisitions in the Edible Medical Marijuana market are done and we'll have an immediate announcement on this and other initiatives. Investors stay tuned as we'll reward them generously for their support and vote of confidence in our future as we're executing our growth strategies."
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.
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.