Wellington FL, June 19, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Preferred Commerce Inc. (“PCI” or the “Company”) (OTC Pink: OCBM ) today announced that it has decided to pursue opportunities in the CBD and Medicinal Cannabis Industry (“Canna Industry”) as grower, producer, and provider of wholesale and retail CBD and Cannabis products where legal in the US and abroad.
After nearly a year of planning, the Company has opted to shift focus to commerce in the Cannabis Industry: to provide resources for quality growing operations, wholesale and retail product distribution, land acquisition and distillery of cannabis-related products. PCI and its founding team bring to the table over 300 years of horticulture and agriculture expertise in preparation, growing, education, product development, and retail sales of primarily top tier concepts and products for consumers worldwide.
Michael Ferraro, co-founder and CEO of PCI, stated: “I believe this industry is coming into its prime, and more than ever needs companies with management ready to emerge from the typical wild west mentality and build with a streamlined vision big enough to make an impact with the exponential growth still ahead.”
The Company is currently:
- working with a considerable number of agricultural groups with plans to have crops underway soon
- in negotiation with premium quality product suppliers that have strong leverage potential
- evaluating potential agent and joint venture opportunities where partnerships can profit existing relationships
- preparing to acquire or file for licensing to grow both CBD Hemp and Medicinal Marijuana in as many states as possible
Ferraro concluded: “Small growers and suppliers with innovative ideas have better upside potential and strong leveraging ability with the support of larger organizations. Our vision is to organically build and acquire small operations with top quality products, services or agricultural potential and equip them with the capital structure required to bring forth profitable results. With the right structure in place, coupled with potential mutually advantageous relationships, we believe we are in an excellent position for exponential results.”
Preferred Commerce has long been a solution provider to the horticulture and agriculture industries, as well as to consumers, educating home gardeners and businesses on how to plan, grow and maintain thriving gardens and plants. With a scientific approach to its operations, the company plans to develop a variety of strains that meet the spectrum needs of its clientele.
The company has created training and educational products that have fueled billions of dollars in sales for Fortune 500 companies, while its family-friendly how-to-grow products have educated nearly 1 million children on how to successfully grow their own healthy food at home. The evolution of medicinal uses of cannabis and CBD products is a natural advancement for the company. Management believes that with its in-depth growing familiarity, encompassing nearly a century-worth of strong relationships in the Horticulture and Agriculture markets, that the Company is well positioned to become a powerful contender in CBD and medicinal marijuana space.
PCI has become notable in part through the development of numerous products and partnerships, such as the educational platform designed for Lowe’s Home Improvement garden center employees, Learn2Grow.com (online media for gardening enthusiasts), Growums (gardening products and education for children), online education for The National Garden Clubs, along with the buying, selling, shipping and receiving of retail product for more than 10,000 retail stores.
According to Grandview Research, the global legal marijuana market size is expected to reach USD 66.3 billion by the end of 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 23.9% during the forecast period. Increasing legalization and use of marijuana in medical as well as recreational applications are expected to promote the growth.
A Brightfield report on CBD reveals that the sector “is growing faster than cannabis in the U.S., and will soon be a $22 billion industry. It’s been flying under the radar but is set to explode having profound impacts on CPG and Pharma.”
About PCI: Preferred Commerce, Inc. is an international grower, buyer, seller and producer of hemp for cannabidiol (CBD) isolate and oils. The company has procured land and licensing to grow medical marijuana and established the necessary joint-ventures licenses and land to grow and produce a considerable abundance of hemp and medical marijuana in efforts to fulfill the company’s vision of becoming a leading global hemp supplier for medicinal marijuana, nano emulsified water soluble CBD, and a spectrum of CBD derived products.
Safe Harbor Act: PCI relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through management, makes forward-looking public statements concerning its anticipated future operations, performance results and other developments. Such forward-looking statements are estimates reflecting the company's best judgment based upon current information and involve risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.)
For More Information: Contact - Mike@preferredcommerce.com