W Technologies, Inc. Joint Venture Partner, 420 Innovations LLC, Announces an Acquisition of a Medical Marijuana Retail Dispe...
February 25 2014 - 7:30AM
Marketwired
W Technologies, Inc. Joint Venture Partner, 420 Innovations LLC,
Announces an Acquisition of a Medical Marijuana Retail Dispensary
Operation
HUNTINGTON BEACH, CA--(Marketwired - Feb 25, 2014) - W
Technologies, Inc. (PINKSHEETS: WTCG) (www.wtechnologies.biz)
announced today that its newly-signed Joint Venture Partner, 420
Innovations LLC, has acquired a Medical Marijuana Retail Dispensary
operation with successful multi-year operations.
This acquisition, consisting of seven retail dispensaries and
two home delivery services, which have been legal in the State of
California since 2007, marks an enormous step for 420 Innovations
LLC into the Medical Marijuana sector.
420 Innovations LLC points to current research predicting that
14 more states could legalize marijuana for recreational adult use
in the next five years, creating a potential $10.2 billion cannabis
market by 2018. Researchers surveyed hundreds of medical cannabis
retailers, processors, dispensary owners and industry leaders over
the course of six months during last year and estimated that more
than $1.43 billion worth of legal marijuana was sold in 2013. The
report also predicts that figure to grow by 64 percent to $2.34
billion this year. This study only takes into account the sale of
cannabis itself, whether by wholesale to retailers or directly to
consumers. The market for ancillary products, such as security
equipment, growing tools, apps and equipment, has the potential to
drive growth still further.
About W Technologies, Inc.
W Technologies, Inc. (www.wtechnologies.biz), whose stock is
publicly traded under the symbol (PINKSHEETS: WTCG), is a
diversified holding company with the mission to develop, manage and
finance emerging companies. W Tech will be involved in the
development of new social media and digital advertising
technologies, on-line shopping, new environmentally-safe oil and
gas recovery technologies, new clean water technologies, financial
services involving residential and commercial real estate and other
emerging markets. The Company expects to bring a paradigm shift in
the use of these new technologies in the respective business
sectors and to develop new methods to finance its affiliated
companies. Through its subsidiaries and affiliates with their
experienced personnel, W Tech will seek to grow through
acquisitions, joint marketing arrangements and organic growth in
emerging markets.
About 420 Innovations LLC
420 Innovations LLC is in the business of designing, developing,
manufacturing and marketing hi-tech delivery devices and
accessories to the rapidly growing market of medical dispensary
businesses for marijuana and a variety of nutraceutical products.
The 420 Innovations products are designed to set new standards in
quality and excellence in supporting their customers' requirements.
The need for such paraphernalia products is expected to grow along
with the current rapid expansion of the legalization of
dispensaries for medical marijuana and other nutraceuticals. 420
Innovations LLC further intends to expand into the growth and
manufacturing of the consumable goods in and around the Marijuana
Marketplace including, but not limited to, the growing of Legal
Marijuana.
Precautionary and Forward-Looking Statements 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, and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may," "future," "plan" or "planned," "will" or "should,"
"expected," "anticipates," "draft," "eventually" or "projected."
You are cautioned that such statements are subject to a multitude
or risks and uncertainties that could cause future circumstances,
events, or results to differ materially from those projected in the
forward-looking statements, including the risks that actual results
may differ materially from those projected in the forward-looking
statements as a result of various factors, and other risks
identified in the Company's disclosures or filings with OTC
Markets, Inc. You are further cautioned that stocks of smaller
companies like W Technologies, Inc. are inherently volatile and
risky and that no investor should buy this stock unless they can
afford the loss of their entire investment.
Contact: W Technologies, Inc. Investor Relations
800-850-9601