Majestic Holdings Enters Into Discussions For Joint Partnership Agreement To Grow Hemp And Process CBD
Tue, 16 Oct 2018 01:20 GMT | GlobeNewswire | Symbol: MJOG
PALATKA, FL, Oct. 15, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Majestic Holdings, Inc. (OTC: MJOG) (“Majestic" or the “Company"), is pleased to announce that it has begun discussions regarding a joint venture with a prominent hemp grower based in Rhode Island. As part of the agreement, Majestic will manage the grower and processor’s outdoor industrial hemp plants, as well as extraction, bottling, and packaging facilities. The company believes participating in an exclusive licensing and supply agreement in this region will greatly enhance overall operational capabilities and increase shareholder value.
The global industrial hemp market size is expected to reach $10.6 billion by 2025, according to a recent report by Grand View Research, Inc. The U.S. CBD market is primed for expansive growth for both hemp-derived CBD and marijuana-derived CBD. With recent developments and advancements in the hemp industry, farmers across the country are turning their attention to commercialization while seeking the road to profitability.
The company recently announced that it intends to change its name from “Majestic Oil & Gas, Inc.” to “Majestic Group Holdings, Inc.” to better reflect the company’s refocused business model, aggressive acquisition of major controlling interests within the healthcare and cannabis sectors.
Company president, Calvin Lewis, commented: “This partnership is a unique opportunity for Majestic and its shareholders. The execution of this agreement would give us a jumpstart toward fulfilling many more of our business goals within the CBD and industrial hemp sectors. We will release further updates regarding this agreement as it develops in the coming days.”
About Majestic Group Holdings, Inc.
Majestic Group Holdings, Inc., a diversified holding company that has several operating subsidiaries in various segments, inclusive of Healthcare, Cannabis, and Biotech. Companies acquired by Majestic are expanded significantly to better fulfill their maximum growth potential. Majestic has previously acquired multiple companies, creating tremendous synergy, and bringing additional revenue. With a strong structure, the company will deliver strong value for shareholders.
Safe Harbor Statement
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties, and assumptions that could cause actual results to differ from those in the forward-looking statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in the Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Majestic Group Holdings, Inc.
info@majesticgroupholdings.com
Phone: 844-544-4014
www.majesticgroupholdings.com
Twitter:@majesticMJOG
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