SPO Networks, Inc. (SPOI) Acquires Its First Recreational Marijuana Dispensary In Trinidad Colorado
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Completes Its Vertical Marketing Chain - From Seed To Cultivation To Wholesale And Now Direct To Consumer Retail Operations
Company Is Entering The U.S. Legal Recreational Cannabis Market Which Is Expected To Reach $42 Billion By 2026
FARMINGTON, AR / ACCESSWIRE / July 14, 2021 / SPO Networks, Inc. (OTC PINK:SPOI) ("SPOI" or the "Company"), a publicly-traded company that is actively exploring potential acquisitions and opportunities in diversified industries, including an established revenue generating waste/recycling subsidiary plus a newly launched medical and recreational cannabis and genetic seed operations entity with the expectation of rapid expansion in the cannabis industry utilizing a proprietary vertical market from cultivation facilities, to wholesale and retail dispensaries, today announced that it has acquired its first recreational marijuana dispensary. The acquisition completes the Company's vertical cultivation & marketing chain of operations.
The Company already owned cultivation sites and has recently entered into a pre-order agreement to deliver of its proprietary strain of certified cannabis seeds to a chain of 10 third party dispensaries in Colorado. Now the Company will be going Direct To Consumer (DTC) via it first wholly owned retail dispensary, to sell its proprietary brands.
Tom Smith, the Company's CEO & Founder, said: "This is an exciting move forward to roll out our "hub and spoke" plan in Colorado. Having our genetic seed operation kicking off and our first dispensary under contract with two more dispensaries, one medical the other recreational in que along with two additional cultivation operations, we are executing our plan on schedule.
This acquisition is only our first of more to come as we plan to continue to increase our share of the U.S. legal recreational cannabis market which is expected to reach $42 billion by 2026. Industry reports show that the number of cannabis consumers is& expected to grow in the United States so that by 2025 the country is projected to have close to 50 million cannabis consumers& and we will take all steps to maximize our ability to reach those consumers."
He continued: "The acquisition of the dispensary in Trinidad, Colorado, requires us to submit the change of ownership applications to the Colorado Marijuana Enforcement Division for the Trinidad CO dispensary, which we have targeted to do by the end of July. We are looking forward to sharing the details of the purchase after the state confirms the change of ownership."
SPO Networks, Inc.
SPO Networks, Inc. is actively exploring potential acquisitions and opportunities in diversified industries, including solid waste, scrap metal recycling and demolition with special waste remediation. Additionally, SPO maintains the belief that patients and customers have a right to high quality, economical, and clinically-validated cannabis products. Towards this, SPO aims at medical and recreational cannabis and genetic seed operations with the expectation of rapid expansion in the cannabis industry. SPO is developing its cultivation facilities for extraction operations, wholesaling of cannabis and cannabis extracts in Colorado to licensed retailers and wholesalers. Eventually, the goal is to expand to retail product manufacturing and dispensary operations in several states, allowing SPO to offer a pricing strategy that will be attractive to consumers large and small.
For more information, please go to: https://www.spoinow.com.
This press release contains forward-looking statements as defined within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements relate to future events, including our ability to raise capital, or to our future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. You should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects our current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to our operations, results of operations, growth strategy and liquidity. We assume no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
For a discussion of these risks and uncertainties, please see our filings with the OTC Markets Group Inc. Our public filings with the OTC Markets Group Inc are available from commercial document retrieval services and at the website maintained by the OTC Markets at https://www.otcmarkets.com/stock/SPOI/disclosure.
SOURCE: SPO Networks, Inc.
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