(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">DENVER, May20, 2019(GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) ('DVLP' or the 'Company'), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is excited to announce Lease of a new 25,000 square-foot production facility located in Denver, CO. The facility will act as the primary production base for the Company's wholly-owned subsidiary, Infusionz, LLC ('CBD Infusionz'), a premium manufacturer of high-quality CBD products. The 54-month initial-term lease for the facility has been finalized, and the move-in process has already begun.
"This new location represents a powerful catalyst for accelerated growth potential," noted Stavros Triant, CEO of DVLP. "Our CBD Infusionz segment is bursting at the seams right now. Demand already vastly out-strips supply capacity. This new facility directly addresses that issue, and should provide the necessary room for the explosive growth that we anticipated when we made that acquisition in March.'
Management anticipates the move-in, customization, and permitting processes will take roughly 4-6 weeks to complete. Full-scale production will ramp up immediately thereafter. The Company anticipates an immediate 500% increase in total production with no additional increase in headcount once the new facility is up and running. Further automation over time will significantly increase that level.
"At present, we are seeing demand that exceeds production capacity by roughly 8 Times,' commented Nate Weinberg, Founder and President of CBD Infusionz. "We can't wait to move into the new facility to ramp up production and cash in on our strong brand positioning. This will also allow us to finally step on the gas pedal and further expand our market footprint because we will have confidence in the idea that we can meet further demand growth.'
The new facility comes fully-equipped for advanced operations precisely matching the Company's needs, including dual dock-high loading doors, an oversized drive-in loading access, 3000 AMPS of electrical power, 18 tons of HVAC capacity, installed fire sprinkler and advanced security systems, and existing site licensing as a Marijuana Infused Products Provider (MIPP).
Mr. Triant continued, 'We have committed ourselves to scaling production and adding new products by the end of 2019. Our analysis suggests that we are in the enviable position of having our most common customer complaints focused on not enough product availability at the end market interface – in other words, we are doing things right, but we need to be able to do more of it. This new facility is a critical step to overcoming that obstacle and driving significant further gains in shareholder value.'
About Golden Developing Solutions, Inc.
Golden Developing Solutions (DVLP) is developing an online retail business for cannabidiol (CBD), hemp oil and health/wellness-related products. The Company is also developing a high-capacity, high-quality CBD extraction and production facility. In addition, through the website of its joint venture partner, Pura Vida Vitamins (www.PuraVidaVitamins.com), as well as through wholesale and distribution channels, the Company offers a broad range of high-quality, price-competitive products, including traditional vitamins, supplements, and CBD-based tinctures, vapes and soft gels, among other products. Merchandise also includes hemp and CBD-related products and additional products focusing on health and lifestyle.
Golden Developing Solutions is a development-stage company providing business services and/or products supporting the cannabis industry, in which company intends to make acquisitions in the near future. Currently, 29 states and the District of Columbia have passed laws permitting their citizens to use cannabis for medical and/or recreational purposes. Cannabis has shown encouraging signs as a treatment for various medical conditions and has become increasingly more acceptable to the public and society.
Forward-Looking Statements
This press release contains forward-looking statements. All statements other than statements of historical facts included in this press release are forward-looking statements. In some cases, forward-looking statements can be identified by words such as "believe," "expect," "anticipate," "plan," "potential," "continue" or similar expressions. Such forward-looking statements include risks and uncertainties, and there are important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Investors are encouraged to review the Company's filings with the Securities and Exchange Commission. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. The Company assumes 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. The contents of any website referenced herein are not incorporated into this press release.
Corporate Contact:
Stavros Triant
623-826-5206
Press & Media Inquiries:
EHC Branding Agency
(626) MJ-BRAND
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