Stevia Nutra Corp (STNT)

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Gold River Productions, Inc. (GRPS) and RushNet, Inc. (RSHN) Announce Sale of New Earth Development Corporation for Stock in Stevia Nutra Corp (STNT)


Globe Newswire
March 5, 2020

Palm Coast, FL, March 05, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Gold River Productions, Inc. (OTC:GRPS) and RushNet, Inc. (OTC:RSHN) jointly announce the sale of New Earth Development Corporation (New Earth), on February 28, 2020.

The combined sale price is $34,975,000, payable in shares of Stevia Nutra Corp. (OTC:STNT) common stock, 2,250,000 shares to Gold River and 250,000 shares to RushNet (this split being in accordance with the terms of the joint venture agreement between Gold River and RushNet). Based on the $13.99 price per share of Stevia Nutra common stock as of the February 28, 2020 contract date, for this quarter, our accountants confirmed that Gold River will report $31,477,500 in Revenues for financial statement purposes. Similarly, RushNet's revenues will include its $3,497,500 from this transaction. Given the negligible amount of expenses that each company incurs, the net income is expected to significantly exceed 90% of the Revenues. As a further result of this transaction, each company will report an asset of a like amount – $31,477,500 and $3,497,500, respectively.

Richard Goulding, MD, Chairman of the Board, reports that "the agreement includes a cooperation provision enabling Gold River and RushNet to continue their respective pursuits of this burgeoning market, entitling each to a discounted price of goods and services from New Earth Development Corporation, including from its subsidiary HempArmor Inc.TM" Dr. Goulding continued, "We feel that Stevia Nutra is uniquely positioned to pioneer the production of graphene products generally and the hemp growing process which can provide the raw ingredients for graphene. Furthermore, the company is positioning itself, via its recent acquisition, HempArmor, to manufacture highly protective apparel for the protection of persons, including through the use of 3D printing technology."

Dr. Goulding cautions, however that "while substantial income will be reported from this transaction, what we ultimately realize on this transaction will be a function of how successful Stevia Nutra, New Earth and HempArmor are in their various pursuits in this market."