VANCOUVER, British Columbia, September 27, 2016 /PRNewswire/ --
Arcturus Growthstar Technologies Inc. (the "Company" or "Arcturus") (CSE: AGS) (OTC Pink: AGSTF) is pleased to announce that it has signed a Letter of Intent to acquire a large portfolio of revenue generating App's and source code. This acquisition brings on a seasoned team of app developers, which instantly expands the Company's tech portfolio and positions Arcturus for rapid rollout of a suite of 420 centric apps. With this all-stock deal, said stock being subject to escrow, Arcturus gains a foothold in the extremely valuable and fast growing mobile application market and obtains access to a seasoned team of experienced developers having published over 500 apps.
"Agriculture and technology are two powerful trends, which are merging at a rapid pace, and mobile technology, specifically apps that are efficiency based, will be in the center of it all," says Mr. William Gildea, Arcturus Growthstar Technologies Inc.'s CEO and Chairman. "This acquisition positions Arcturus to take full advantage of this trend now and in the future by leveraging the experience of this seasoned mobile app team, which just in the past three years has released over 500 iOS/Android apps, including Farming All In One and a soon to be released 420 All In One Application with many more 420 apps in the pipeline."
Mobile apps will continue to be at the heart of the data transformation in agriculture.
"Having published over 500 apps on both iOS and Android platforms we also integrated the Facebook, Chartboost, Applovin and Google's AdMob mobile advertising networks which serve up over 10 million ad impressions per year across our portfolio," comments Mikael Hovhannisyan, the app portfolio manager. "We are excited to be a part of the growing Arcturus team and look forward to leveraging our mobile development and monetization experience into the rapidly expanding 420 Ag app space.
According to CropLife, "The agricultural industry is being transformed by the use of data. It is everywhere, and over the next several years, innovative new uses of information across agriculture - from yield optimization and fertilizer management, to food safety and connected vehicles - will be adopted." See full article at: http://www.croplife.com/editorial/matt-hopkins/6-mobile-app-trends-worth-watching-in-agriculture/
"Cloud technology, Big Data, and the Internet of Things all support the day-to-day operations on the farm," says John Sweeny, the farm manager. "We are on the verge of some very significant changes in the merging of mobile app technology and the farm."
For further information, contact William Gildea, Director, at +1-617-834-9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
The Company's business model includes developing and acquiring technologies that will position it as a leader in the evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many other benefits including seed to sale security, scalability, consistency due to year-round production, cost control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.
ARCTURUS GROWTHSTAR TECHNOLOGIES INC.
Suite 1518, 1030 West Georgia Street
Vancouver, British Columbia
SOURCE Arcturus Growthstar Technologies Inc.