Vancouver, British Columbia, Aug. 7, 2019 /CNW/ – Vapen MJ Ventures (OTCQX:VAPNF; CSE: VAPN) (“Vapen MJ”) a fully integrated agricultural technology, services and property management company in the regulated cannabis industry, today announced a new partnership to create a vertically integrated supply chain for Hawaiian hemp production and formulation with Archipelago™ Ventures, the strategic joint venture with Legacy Ventures and Arcadia Biosciences.
Legacy brings growth capital and strategic advisory in Hawaiian and Asian markets, as well as access to Legacy’s equity partner, Vapen CBD, a wholly owned subsidiary of Vapen MJ Ventures. As proven leader in extraction, product formulation and sales of cannabis oils and distillate products, Vapen CBD will be responsible for the construction and operation of Archipelago’s Hawaiian hemp extraction facilities. These facilities will give farmers an opportunity to convert their operations into high-grade CBD hemp production, creating new sources of jobs and revenue on the islands. First sales of superior hemp extract are expected in late 2019, in line with regulatory guidelines.
Archipelago creates one vertically integrated supply chain, from seed to sale, to deliver superior hemp-derived CBD products. The joint venture combines Arcadia’s extensive genetic expertise and resources with Legacy’s proven experience in extraction and distribution. This partnership leverages Hawaii’s unique geographic and climate advantages for growing hemp year-round and provides access to key international markets.
“Vapen MJ’s strategy is to participate in beneficial profit-sharing arrangements like Archipelago where we can add strategic value and bring key operational expertise that supports the venture’s success,” commented Thai Nguyen, Founder and Chief Executive Officer of Vapen MJ Ventures. “Our long-term growth strategy is to build value through our proprietary channels as well as through partner channels that drive revenue growth, improve operational scale and increase shareholder value.”
About Vapen MJ Ventures
Vapen MJ, through its wholly owned subsidiaries, currently operates in the US as an agricultural technology, services and property management company utilizing a full vertical integration business model to oversee and execute all aspects of cultivation, extraction, manufacturing (THC and CBD cartridges, concentrates, edibles), retail dispensary, and wholesale distribution of high margin Cannabis THC and Hemp CBD products under the Vapen Brand. Vapen MJ expansion plans include partnering with cannabis license holders and hemp farms in multiple states within the US.
About Legacy Ventures
Legacy Ventures Hawaii was formed by a small group of investors with deep ties to the Hawaiian Islands who are interested in pursuing opportunities in CBD hemp and helping farmers through its investments in science and technology. Through the recent addition of Vapen CBD as an equity partner, Legacy is developing world-class cGMP extraction facilities for the islands to deliver high-grade hemp extract for use in premium CBD products. Vapen CBD is a division of Vapen™ MJ Ventures, which is a publicly traded cannabis operator based in Phoenix and listed on the OTCQX: VAPNF, the Canadian Securities Exchange – CSE and the Frankfurt Stock Exchange.
For further information please contact:
Bob Brilon, President and CFO