Anaheim, CA, Dec. 22, 2021 (GLOBE NEWSWIRE) — LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically grown cannabis products for medical and recreational adult-use in California; today announced that the expansion of the cultivation area on Estrella Ranch by two additional acres is in the advanced stage. The expansion will increase the canopy area to over 130,000sf of cultivation for Estrella River Farms (“ERF”), with a majority of the additional acreage already reserved for cooperation with several popular third party California cannabis brands under private label.
Bill Hodson, CEO of Livewire Ergogenics, states, “Our affiliate company, Estrella River Farms (ERF), has delivered the second part of its inaugural harvest to the processing facility for final processing and subsequent pick up by its customer. As earlier reported, ERF has fully utilized the initially permitted cultivation area at Estrella Ranch and is now expanding the cultivation area by an additional two acres increasing the total acreage to three acres or approximately 130,000 square feet. With the industry realizing our facility’s exceptional opportunity to grow high-quality, sun-grown cannabis in California, we have commitments from two prominent California cannabis brands to cultivate on Estrella Ranch. Accordingly, we have reserved much of the additional acreage for these brands.”
“Our original plan was to expand one acre at a time, but demand for Estrella River Farms sun-grown product is high, so we decided to add two additional acres immediately. Our arrangement with private label customers will include developing and marketing the “Estrella Weedery” branded product as well. The house product will be marketed under the Estrella Ranch and Estrella River Farms brands and distributed throughout California utilizing existing channel relationships.”
“We are expanding faster than planned because of the increasing demand for our product, not in anticipation of changes in Federal regulations. One of many things we learned in 2021 is that we can’t count on our leaders in Washington, dispite the promises to help pave the way for legal operations in the cannabis industry. The California infrastructure and regulations are in place, and that is our focus. Based on our advantageous operational structure and our ability to share resources as needed between our two locations in Paso Robles and Humboldt, we run an economically prudent operation and continue to expand our operations aggressively according to our business plan and the current legal environment. We will continue the swift scale-up of the cultivation areas at Estrella Ranch until it reaches capacity and are continuing to consider additional acquisitions and strategic partnerships to expand our roster of affiliated and subsidiary companies according to our business model,” concludes Hodson.
About Estrella Ranch Estate Grown Weedery™
Estrella Ranch is a historic ranch property in Paso Robles, California, wine country center. Through its affiliate Estrella Ranch Partners, LLC., the Company has begun to transform this stunning property into the world’s first “Estate Grown Weedery,” developing it into a facility to cultivate high-end organic cannabis products. Estrella Ranch has a long-standing history, was once owned by the Hearst family, and is considered among the finest Ranches in California and the gem of the California Central Coast. Estrella Ranch is located near Paso Robles and Santa Barbara, halfway between Los Angeles and San Francisco, and is surrounded by hundreds of world-renown wine yards. The Estrella Ranch location is developed into the central hub for all Livewire operations.
About LiveWire Ergogenics Inc.
The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations to establish fully compliant and permitted facilities to produce cannabis-based products and establish relationships for the state-wide distribution of these products in California. This includes developing and licensing high-quality organic cannabinoid-based products and services and creating the high-quality “Estrella Grown Weedery™” brand via its affiliate companies Estrella Ranch Partners and Estrella River Farms. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to www.stockwatchindex.com/livewire-ergogenics.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or the Company’s future performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company’s Social Media postings, and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.