USEI Cannabis Initiatives Corp has purchased its first MRX 20L Super-critical CO2 Botanical Extraction Unit to be used for the express purpose of participating in the California cannabis industry. Last month, USEI announced that it has purchased its first MRX 20L CO2 Extraction Unit to be utilized in California's Legal Cannabis Industry. Last week, USEI took a team of five to Camby, Oregon for training, a mandatory step required to be ready to participate in this newly legal marketplace.
As of January 2018, California has become the largest legal cannabis market in the world, with an estimated market of approximately $6.8 billion dollars. This unit is the first of many that will be procured in 2018 to help provide California's industry with this vital extracted resource. This oil is the most significant product produced in this legal industry, and the most profitable sector of this industry.
According to Anthony Miller, CEO, "Last week our team went to Oregon for training to become familiar with our equipment; once we are ready to take delivery we will have on-site training under real world conditions. We bought and paid ‘in full' ($190k) for our first MRX 20 Liter Supercritical CO2 Xtractor and our goal is to acquire 2 more units in 2018 These devices require 9-18 pounds of cannabis daily (500 pounds per month). The MRX technology is arguably the best available non-volatile cannabis extraction device on the planet, extracting the highest yield per pound and the best quality cannabis oil; we believe that it provides us with an added advantage over other available technologies.
"At the moment of this release… there are only a handful of companies that have received licenses for operating in this legal market; and in the next 4-6 months California will be issuing licenses to participants in three phases. The state of California has gone to great lengths to level the playing field so that new entrants have the same opportunity as long time players. We will be seeking to procure a "Micro Business License" that contains up to 4 distinct licenses and one of them will be manufacturing. We are actively working to acquire a location(s) and strategic partnerships to capitalize on our opportunities.
"Our business plan includes cannabis extractions using all available techniques, so collectively, we intend to produce a wide range of products. We also have a plan designed to fund our future growth and allow us to procure a significant amount of post-production equipment to grow this business. We believe that our business plan will produce significant revenue for USEI in 2018, adding significant value to our shareholders. On another note: In the past few years we issued dividends to shareholders of record; and many of you have had difficulties getting the 144 legend removed from these securities. If we are to accomplish what we plan for 2018, those (free) shares, issued to you, will have significant value. Our attorney Thomas C. Cook has agreed to write opinions on those issued shares for $300.00 per transaction (no blanket opinion can be offered) and he further offers to expedite those requests as they are submitted.
"We are actively working on obtaining provisional licenses to begin our operation next month, once our site is prepared and our unit arrives. Again, I want to thank those investors who have diligently hung in there while we had been working behind the scenes to make this venture come to life, and we hope that our good work will become beneficial to you all. Thanks again," commented Miller.