WILMINGTON, Del., April 20, 2015 (GLOBE NEWSWIRE) -- Redux Holdings, Inc. (OTC:RDXH) is pleased to announce a $250,000 Private investment contract. With this investment the company immediately will be purchasing 20 systems worth of Materials amounting to roughly $58,000. This will give Redux Holdings, Inc. the ability to grow 19,200 plants in an 8,000 sq. ft. area. Given that the company wants to focus on basil as its first crop, the company will have the ability to yield 3,000 pounds a week of basil with 20 operational systems working in tandem. This equates to $30,000 on a week by week basis off of produce sales. The expected annual revenue from 20 systems working in tandem outdoors is $720,000 for a growing period of 6 months every year conservatively.
Furthermore the company is pleased to say that it will be buying a 3,000 sq. ft. green house from "Gothic Arch Greenhouses, Inc." https://www.gothicarchgreenhouses.com/. This will cost the company an additional $80,000 roughly and will allow the company to grow at least 6 systems worth of produce all year round. The maximum revenue per a 12 month period off of 6 systems would be $432,000 in doors on company owned land. The company will be purchasing an additional 10 systems worth of materials so that the green house can be filled with systems. The company will be left with an additional 4 systems that will be used to help fill the 2nd green house the company will be purchasing in 2015.
In conclusion, off of these 26 working systems the company expects to generate $1,152,000 in annual revenue while only utilizing a mere 11,000 sq. ft. or 25.25% of an acre of company owned land. The company wants to remind shareholders that 1 acre is 43,560 sq. ft.
Redux Holdings, Inc. is pleased to announce that following this purchase the company will be filing the S-1 with the SEC for up list.
Forward-Looking Statements
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications, which may arise, could prevent the prompt implementation of any strategically significant plan(s) outlined above. The Company undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.