MIAMI, January 4, 2017 /PRNewswire/ --
ML Capital Group (MLCG), a diversified holding company, is expanding its presence in the luxury and specialty travel markets with the pending acquisition of Spanish Peaks Scrumpdelicacies, a venture-backed producer of cannabis-infused edibles based in Colorado. MLGC will leverage this acquisition to launch a new, specialty tourism sector focused exclusively on cannabis-related travel experiences.
MLGC has an established presence in the luxury travel market, highlighted by Platinum Tours of Maui, it's flagship investment offering unrivalled tour experiences on Maui. Spanish Peaks Scrumpdelicacies has established backing, and is poised to thrive in the burgeoning legal cannabis market, which Forbes predicts will reach nearly $7 billion in sales by the end of 2016, and which Bloomberg predicts will reach $50 billion in the next ten years.
In addition, Spanish Peaks Scrumpdelicacies is already in a "go-to-market" phase, after entering into an agreement with Puration, Inc. (PURA) to develop a line of cannabis infused beverages. This established and growing presence, in conjunction with MLGC's success in the specialty and luxury travel sector, illustrate the potential of two innovators working together to leverage a fundamental shift in American policy, and an exploding market.
Safe Harbor: This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 27E of the Securities Act of 1934. Statements contained in this release that are not historical facts may be deemed to be forward-looking statements. Investors are cautioned that forward-looking statements are inherently uncertain. Actual performance and results may differ materially from that projected or suggested herein due to certain risks and uncertainties including, without limitation, ability to obtain financing and regulatory and shareholder approval for anticipated actions.
Explore Inc. Investor Relations
SOURCE ML Capital Group