Las Vegas, Dec. 06, 2018 (GLOBE NEWSWIRE) -- LAS VEGAS, December 6, 2018 -- Rimrock Gold Corp. (OTC Pink: RMRK) (the “Company”), is pleased to announce that its wholly-owned subsidiary Acqua Cannabis Corp (“Acqua”) has entered into an Asset Purchase Agreement to acquire all of the assets of Hemp Tradition, LLC(“Hemp”). The Company has agreed to issue Forty-Million shares from the Company’s treasury to the shareholders of Hemp. In addition, the Company has agreed to assume Hemp’s liabilities related solely to the licensing fees required to facilitate the distribution of CBD products in the State of Florida estimated to be approximately $135,000.
The Company’s immediate plan is to begin the branding, packaging and distribution of selected CBD products as wholesale items, and with an e-commerce platform. Furthermore, the packaging, marketing and administrative offices are currently being moved into a 5,000 sq ft. warehouse and office in Miami, Florida. Dr. Hugo Romeu is currently assembling a team to manage, operate, package and distribute Hemp Tradition products.
“This is a very exciting transaction as it will catapult the Company immediately into the production phase allowing the Company to begin generating revenue from the sale of Hemp Tradition’s products, stated Dr. Romeu, COO of Acqua. “The first step is to re-brand and package as an Acqua Cannabis subsidiary and in the coming weeks there will be further news on the location and team members.”
Certain statements in this document that are not historical facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as “anticipate, “believe,” “expect,” “future,” “may,” “will,” “would,” “should,” “plan,” “projected,” “intend,” and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Rimrock Gold Corp. to be materially different from those expressed or implied by such forward-looking statements. The Company’s future operating results are dependent upon many factors, including but not limited to: (i) the Company’s ability to obtain sufficient capital or a strategic business arrangement to fund its current operational or expansion plans; (ii) the Company’s ability to build and maintain the management and human resources and infrastructure necessary to support the anticipated growth of its business; and (iii) competitive factors and developments beyond the Company’s control.
For more information, please contact:
Rimrock Gold Corp.
Jordan Starkman, President
1-800-854-7970