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International Endeavors Corp. (IDVV) Reports Canadian Interest is Greater than Expected
TEMECULA, Calif., July 19, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- International Endeavors Corporation (OTC stock symbol: IDVV) manufacturer the Off-Grid Grow Laboratory (OGGL) for licensed marijuana growers, reports on the market conditions in Canada.
Currently, Health Canada says there are 113 licenses for marijuana cultivation operations in the entire country. 61 of the licenses are in the province of Ontario, 24 are in the province of British Columbia, and 28 more are scattered across the other provinces. International Endeavors Corporation is consulting with firms that have a license and firms that provide support services to many of these licensees, in order to set up the distribution network for the OGGL in Canada.
Over 500 new marijuana cultivation license applications are under review for approval by the Canadian government. This number continues to rise in anticipation of the increased demand for legal marijuana and cannabis products, when sales of these products for adult-use (recreational purposes) becomes legal on Oct. 17, 2018.
The new license applications are mostly coming from four provinces, which include Ontario (167 applications), British Columbia (153 applications), Alberta (58 applications) and Quebec (50 applications). These provinces are where International Endeavors Corp. focuses its efforts.
The Canadian government expressed its intention to make the license-approval process as efficient as possible. Government officials want to have enough legal cultivation occurring in order to produce sufficient quantities of cannabis products to meet the anticipated demand starting in October. The annual market for marijuana and related products enjoyed by the 36 million people in Canada is estimated to have a value of over CA$6 billion+ per year.
Marketing Director of International Endeavors Corporation, William Vinson, said, “The established producers, who are already licensed, are ramping up production significantly. In some cases, they are doubling and tripling their output. These large growers benefit by deploying dozens of OGGLs simultaneously. On top of that, every new licensee that is approved becomes another potential customer for the OGGL because using our solar-powered off-grid grow lab is one of the fastest ways to start cultivating.”
Andrew Read, inventor of the OGGL says, “We designed the OGGL to handle the harsh weather conditions in Canada. On the eastern side of Canada, the winter can start as early as November and run until March or April. The OGGL sustains a controlled internal temperature in spite of any external climate changes. That is a big plus for growers.”
Marketing Director, William Vinson, said, “We always thought the potential of the Canadian market for marijuana growers was very strong. Now, the interest in the OGGL has increased because there is going be up to a five-fold increase in licensed growers in Canada than before.”
About the OGGL: The OGGL is the first purpose-built, self-contained, off-grid growing laboratory. Built in a low-cost shipping container, the OGGL has integrated solar modules and lithium-phosphate batteries coupled with a generator backup to supply uninterrupted power to the grow room. The OGGL is configurable for the three stages of the growing process, which are: vegetative, flowering, and cloning.
About International Endeavors Corporation (OTC stock symbol: IDVV)
International Endeavors Corporation focuses on building intellectual property and making equipment sales in the medical marijuana and legal cannabis industry through the creation of off-grid grow labs, biomedical devices, clean-energy solutions, and patented devices. The company is also engaged in locating and acquiring established companies, brands, and technologies. The company’s real estate portfolio includes commercial property, agricultural land, and buildings.
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
William Vinson, Marketing Director
Nate Engel, CEO
Source: International Endeavors Corporation