Enviro-Serv, Inc. Enters Expanded Joint Venture Partnership for Second Straight Year With Michigan Outdoor Medical Marijuana Grow

Rhea-AI Summary

Enviro-Serv announces its continued partnership with Canna Capital Development for a second consecutive year to fund an outdoor marijuana grow in Central Michigan. The company has tripled its investment capital for the 2021 season, expecting high yields and increased returns exceeding last year's 75%. A guaranteed option for a 2022 grow has also been secured. Harvesting is anticipated in October. CEO Chris Trina emphasizes strong market demand and plans for future growth, while highlighting the company's focus on increasing shareholder value.

Positive

• Tripled investment capital for 2021 outdoor marijuana grow.
• Expected returns to exceed last year's 75% net return.
• Guaranteed option for a second year of growing in 2022.
• Strong market demand anticipated in Michigan.

Negative

• None.

Tampa, FL, June 30, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- Enviro-Serv, Inc. is extremely excited to announce for the second year engaging our joint venture partner in Central Michigan for an outdoor marijuana grow.

Enviro-Serv chairman and CEO Chris Trina stated, “We are extremely pleased to announce for the second year in a row in conjunction with Wisconsin based investment firm Canna Capital Development group in funding our outdoor medical marijuana grow in Central Michigan. We have tripled our investment capital for this growing season and feel strongly about very high yields and great results in this fast-growing industry. At the end of 2020 EVSV yielded a net return of 75% in our partnership with Canna Capital and we believe this return on investment will be exceeded this year. Additionally, we are very excited that in our investment funding agreement for this 2021 grow we have secured a guaranteed option for EVSV to partake in another 2022 grow making this a two-year collaboration should we choose. For security reasons, details of the grow location will not be provided. The cultivators who have partnered with us have over 11 years of medical marijuana experience in multiple states.”

Mr. Trina went on to say, “We have high expectations in this collaboration and expect the demand to stay extremely strong in the state of Michigan. We continue to explore in-house opportunities in Michigan and anxiously await our home state of Wisconsin to pass necessary laws to legalize. Although we are not revealing details of the exact terms of this partnership, further developmental news will be provided as milestones are achieved; however, we fully expect these revenues to hit this fiscal year.”

Mr. Trina concluded, “The Michigan grow has already been fully planted and harvesting is expected in October with processing to commence immediately thereafter. This is a watershed moment yet again for our company as it marks our further interest in the rapidly growing US cannabis industry especially as it pertains to the state of Michigan. We continue to grow and explore opportunities that will meet the needs of MMJ and Hemp users and enhance our shareholder value while benefiting patients’ lives. As Q2 ends today we are hitting on all cylinders in our core pest control division and look forward to continued imminent news releases pertinent to fundamental operations in our efforts to further increase shareholder value,” Trina added.

Disclaimer/Safe Harbor

This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statement reflects the company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include the expectation that any of the companies mentioned herein will achieve significant sales, the failure to meet schedule or performance requirements of the companies’ contracts, the company's liquidity position, the company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward looking events referred to in this press release might not occur.

Contact: Christoph Trina

Chairman and CEO -EVSV

813- 708- 9910

FAQ

What is Enviro-Serv's investment for the 2021 outdoor marijuana grow?

Enviro-Serv has tripled its investment capital for the 2021 outdoor marijuana grow in Central Michigan.

When is the expected harvesting date for the marijuana grow?

Harvesting is expected to begin in October 2021.

What return did Enviro-Serv achieve last year on its marijuana grow?

Last year, Enviro-Serv achieved a net return of 75% on its marijuana grow investment.

What future plans does Enviro-Serv have regarding marijuana cultivation?

Enviro-Serv has secured a guaranteed option for a second growing season in 2022.

How does Enviro-Serv plan to increase shareholder value?

Enviro-Serv aims to enhance shareholder value through strategic collaborations and expanding its cannabis operations.