Gold River Productions, Inc. (OTC Pink: GRPS) has acquired a significant stake in a Facilities & Land Industrial Hemp Cultivation – and processing facility as part of a Palisade, Colorado operation in Mesa County, Colorado.
There is a registration requirement with the Colorado Department of Agriculture to cultivate Industrial Hemp and produce products. The Palisade operation is registered under Mesa County within the Colorado Department of Agriculture to cultivate Industrial Hemp and produce CBD oil and other hemp products. This registration is indicated under the “Registrants by County” tab under the "Mesa County" section: https://www.colorado.gov/pacific/agplants/industrial-hemp
Industrial Hemp is regulated by the Colorado Department of Agriculture. Statutory authority for the Industrial Hemp Program is provided in Colorado Revised Statutes, Title 35, Article 61. As defined in Colorado Revised Statute, Article 61, section 35-61-101(7) Industrial Hemp means a plant of the genus Cannabis and any part of theplant, whether growing or not, containing a delta-9 tetrahydrocannabinol (THC) concentration of no more than three-tenths of one percent (0.3% THC) on a dry weight basis. So therefore, Industrial Hemp does not fall under the licensing requirements of marijuana for production or sale.
XYZ Hemp Inc., formerly Gold River Productions will participate in both outdoor and indoor harvests to be realized from the greenhouses that are currently in operation and additional, under construction. The Company, in coordination with RushNet Inc.(OTC Pink: RSHN), plans to put into production additional indoor and outdoor acreage in 2018 and 2019. Pictures of the outdoor and indoor cultivation projects will be available on the company’s website.
The Company has not issued any new shares into the market over the past few years. The share structure for the past few years has remained the same and will be updated on OTC Markets and will continue to be eligible for verification by shareholders via our new transfer agent,Mountain Share Transfer, LLC. The company is not subject to any convertible debentures, Section 3(a)(10) exempt securities, or any forms of dilutive securities outstanding.
The company is nearly complete with its preparation of paperwork to update its account with OTC Markets, including two years of unaudited financials under the generally accepted accounting principles (GAAP) standards.
There are plans in place to produce CBD oil and other hemp products. Please stay tuned for further announcements as we endeavor to create value for our shareholders.
Safe Harbor Statement: This release includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such statements include any that may predict, forecast, indicate, or imply future results, performance or achievements, and may contain the words "estimate", "project", "intend", "forecast", "anticipate", "plan", "planning", "expect", "believe", "likely", "should", "could", "would", "may" or similar words or expressions. Such statements are not guarantees of future performance and are subject to risks and uncertainties that could cause the company's actual results and financial position to differ materially from those in such statements, which involve risks and uncertainties, including those relating to the Company's ability to grow. Actual results may differ materially from those predicted and any reported should not be considered an indication of future performance. Potential risks and uncertainties include the Company's operating history and resources, economic, competitive, and equity market conditions.
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