- Deal expected to generate significant long-term revenues for both SKYF and EXMT
IRVINE, CA, May 25, 2016 /PRNewswire/ - Anything Technologies Media, Inc. (OTC: EXMT) announced today that it has signed a licensing agreement with Sky440 Inc., (OTC: SKYF) to distribute state of the art custom grow containers in Northern California. The transaction, the first for Sky440 since it entered into a joint venture agreement with Houston, Texas based Grow-Tech to manufacture and distribute the highly engineered modules on March 29, 2016, is expected to generate significant long-term revenues for both companies.
Under the license agreement, ATM will be the exclusive distributor for the grow containers where the end user is specifically licensed to grow legalized medical marijuana. The territory boundaries are the southern city limits of Gilroy, California to the south, the California-Oregon state line to the north, the California-Nevada state line to the east, and the Pacific Ocean to the west. The financial terms of the transaction are expected to be released once additional territory negotiations in Texas and New York are concluded over the next few weeks. Under the current revenue sharing model established by the joint venture between Sky and Grow-Tech, every ten containers in service should yield between $1.5 and $2 million dollars annually in adjusted gross revenue.
"This is a major step for EXMT and Sky440 and our joint venture with Grow-Tech," stated Richard Wilson CEO for ATM. "This licensing deal is the first of many to come as we bring this exceptional product to market. We are excited to have ATM join Sky440 the Grow-Tech family. This product has tremendous domestic and international market potential, especially in urban areas and in those places where weather and other environmental factors make normal growing of horticultural and agricultural products difficult, if not impossible. In addition, the results are a significantly higher yield in a shorter time than all conventional production methods."
These specially designed and constructed insulated shipping containers are expected to provide a highly engineered modular and mobile vertical production environment that will be re-engineered to provide the optimum controlled environment for growing horticultural and agricultural products in any environment. Designed for growing crops all year without regard to weather, pollution and free from pests and diseases while being completely off the grid, these 40 foot containers and the new 53 foot containers plan to use proprietary systems that incorporate the latest technology available.
Sky440, Inc. (OTC: SKYF), based in Irvine, California, is a publicly traded development stage company with two divisions: Product Development and Medical Marijuana Development. Additional information about Sky440 can be found at www.otcmarkets.com, on the Sky440 website at www.sky440.com, and on Twitter at www.twitter.com/sky440inc.
About Anything Media Technologies, Inc.
Anything Technologies Media Inc., www.anythingtechnologiesmedia.com is a Multi-Media Digital applications, production and marketing Company. ATM is the parent company of subsidiary Corporations both public and private, and is also focused on partnerships and acquisitions in new technologies, robotics, and manufacturing sectors and Medical Marijuana Development. The company and partners each have their own professional management team with extensive backgrounds in finance, manufacturing, marketing and distribution.
NOTES ABOUT FORWARD-LOOKING STATEMENTS
Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties, including those described in the Company's reports and filings at http://www.OTCMarkets.com.
Certain statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as estimates, anticipates, plans, expects, intends, believes, should and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the Company and speak only as of the date made.
SOURCE Anything Technologies Media Inc.