San Francisco, CA, June 25, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Simlatus Corporation (OTC PINK: SIML) ("Simlatus" or the "Company"), announces today that its Chairman Richard Hylen is updating shareholders regarding the company's subsidiary, Proscere Bioscience, and the overall financial future of the company including obtaining initial orders totaling $20Mil for its CBD coldwater extraction system.
Chairman Richard Hylen stated, "Our subsidiary, Proscere Bioscience, has recently completed its testing and will move forward with completing the manufacturing of our CBD coldwater extraction systems and initial $20M in orders. We have one of the world's largest distributors of CBD based products wanting to move forward in purchasing of systems. This allows their global operation to produce more efficiently, with less waste and save money. This targets our $200M revenue stream for 2020 through 2023. Other revenue streams for the company include our small operations in audio/video technology for CBS, FOX, Warner Brothers and government contracting that has been a staple for the past 20 years. Our Satel division is cash positive and growing in the San Francisco metropolitan area as we contract with AT&T products for our customers. Satel has also been a staple for the past 15 years, and is gaining ground in expansion outside of San Francisco and into the Bay-Area.
"Our larger revenue stream from Proscere Bioscience will enhance our portfolio as we gain ground in the growing cannabis industry and use our global resources."
About the company: The Company operates multiple revenue streams in the CBD, Major Broadcast and Satellite TV/Internet Provider Industries. Proscere Bioscience manufactures the first commercial industry standard cold-water CBD extraction system for medical grade cannabis utilization, along with their aeroponic commercial grade technology control containers for government food-safety programs, commercial and medical grade CBD. Satel Group is the premier high-rise DirecTV providers in the San Francisco metropolitan area, and is now expanding both DirecTV and Internet services across the SF Bay Area. Simlatus manufactures its own proprietary systems for the major broadcast studios, such as Warner Bros., Fox News, CBS and DirecTV. Its video technology is the major system used for underwater oil exploration in the world.
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management's expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Richard Hylen, CEO
Tel: (530) 205-3437
Source: SIMLATUS CORPORATION