PHOENIX, Oct. 25 2016 /PRNewswire/ -- (OTC-PINK: LBTD) Lotus Biotechnology Development, Corp. is pleased to announce that the Company has entered into an agreement with CBD SOCO to bring state-of-the-art pharmaceutical marijuana to the thriving marketplace. Through the distribution of a new emerging treatment integrated with organic products, the Company strategizes to deliver proprietary CBD derived merchandise to North American companies.
The Company has signed a Letter of Intent to own and operate an advantageous young company in southern Colorado. MR. N. Spears and Jessie Salyer will be joining the team to help produce and process the Company's Organic materials in new strands of CBD that are slated for sales in 4 states with licensing in place. "We believe that through integration with our materials that we have the potential to create a highly advanced formula, possibly the best new strand of Medical Marijuna and CBD oil being brought to market," stated: Michael Palethorpe, the Company's Chief Executive Officer and President.
Due to the Company's rising success in the production of specialty organic mechandise, Lotus Bio-Technologies has determined that the timing on this acquisition has the potential to fuel exponential growth for the Company. Revenues for the last two quarters have revealed steady significant growth.
Based on the latest developments and the potential purchase of assets from CBD SOCO, Lotus Bio-Technologies has strategized to facilitate a new processing center in Eastern KY to produce and manufacture all CBD Oils. Mr. Palethorpe continued: "Mr. Spears, having many years of experience in Marijuana sector will bring a wealth of knowledge to our company. We are very optimistic about the lucrative nature of this transaction. We believe that the Company is now very well positioned, securing a good niche in such a quickly evolving industry."
The size of the market for legal marijuana in the United States is projected to grow to $7.1 billion in 2016, according to a report by New Frontier and ArcView Market Research. That represents 26% growth over the previous year, driven largely by adult recreational sales of marijuana, according to research cited on Forbes.com website.
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Last updated on: 26/10/2016
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