Enviro-Serv (OTC-EVSV) Strikes First Hemp Bio-Mass Acquisition Deal of 2021

Rhea-AI Summary

Enviro-Serv, Inc. (OTC: EVSV) has announced its inaugural acquisition of high-quality hemp bio-mass, securing 6,000 pounds of the sought-after 'Lifter' strain from a Wisconsin farmer. The transaction, valued at 42,500 restricted common stock shares, signifies Enviro-Serv's commitment to navigating the evolving hemp market and enhancing shareholder value. CEO Chris Trina highlighted the challenges in the hemp industry and expressed optimism about future monetization opportunities. The deal reflects the company's strategic intent to capitalize on its farming investments made over the past two years.

Positive

• Acquired 6,000 pounds of high-quality 'Lifter' strain hemp bio-mass.
• Transaction valued at 42,500 restricted common stock shares.
• Signifies commitment to navigating challenges in the hemp industry.
• Potential to increase shareholder value with future acquisitions.

Negative

• None.

TAMPA, FL, April 14, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire -- ENVIRO-SERV, INC. (OTC: EVSV) is excited to provide shareholders with several exciting updates announcing the first ever acquisition of high-quality hemp bio-mass from competing farmers looking for exit strategies to monetize their crop.

Chris Trina, Enviro-Serv, Inc. Chairman and CEO, revealed that, “As we’ve tweeted lately about some updates the hemp industry is ever evolving and has been challenging to say the least. We continue to monitor very closely with our processing partners and affiliates, crude oil and flower pricing as market pricing is ever changing. Many experts believe we are, at or near, the bottom of this unforeseen hemp oil pricing decline and we look forward in monetizing our hemp farming investments over the past two years here in 2021. At the same time, we expect to seize new and unique opportunities to increase shareholder value.”

Trina went on to comment, “We announced today our first hemp bio mass acquisition utilizing restricted EVSV common stock in lieu of cash in the procurement of 6000 pounds of high quality “Lifter” strain to be delivered no later than next week. The deal was struck last week and inked over the weekend with a hemp farming operation in nearby Brandon Wisconsin. The terms of the deal were EVSV issuing 42,500 rule 144 one-year restricted common stock shares for the 6000 pounds of Lifter to include full delivery to our designated site. We are continuing to negotiate very similar terms with other local hemp farmers for alternate ways to monetize their assets.”

Trina ended by exclaiming that, “Lifter was one of the most sought-after genetic strains in the hemp space. EVSV harvested the lifter strain in 2019 at our Beaver Dam location and made sales as high as $220 per pound when the market was stronger. We will continue to work diligently in finding these type of opportunities as we continue to work very hard for our shareholders in 2021 and beyond to maximize and increase shareholder value.”

Disclaimer/Safe Harbor:

This news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect 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 companies' liquidity position, the companies' 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 release might not occur.

CONTACT: 
CHRIS TRINA
CEO
Enviro-Serv, Inc. 
813-708-9910

FAQ

What is the significance of Enviro-Serv's acquisition of hemp bio-mass?

Enviro-Serv's acquisition of 6,000 pounds of hemp bio-mass marks its first step into the hemp market, aimed at enhancing shareholder value.

How much stock did Enviro-Serv issue for the hemp acquisition?

Enviro-Serv issued 42,500 restricted common stock shares for the acquisition of 6,000 pounds of 'Lifter' strain hemp bio-mass.

What challenges does Enviro-Serv face in the hemp industry?

Enviro-Serv faces challenges related to fluctuating crude oil and flower pricing in the hemp market.

When will the 'Lifter' strain hemp be delivered?

The delivery of the 6,000 pounds of 'Lifter' strain hemp is expected no later than next week.

What was the price range for 'Lifter' strain in the past?

The 'Lifter' strain was sold for as high as $220 per pound during stronger market conditions.