Kolaboration Ventures Corporation
May 17, 2022
This merger will help position Kolaboration Ventures Corporation to become a vertically integrated California cannabis powerhouse. The combination of state-wide distribution for its brands with its owned-and-operated retail shelves, which serve up fresh and affordable cannabis and cannabis products to over 2,000 customers daily, will set the table for future growth and milestones.
PRESS RELEASE MAY 17, 2022 06:00 PDT
RIO VISTA, Calif., May 17, 2022 (Newswire.com) - Kolaboration Ventures Corporation (KVC) is a leading vertically integrated cannabis operator in California. KVC prides itself on its ability to cultivate and distribute high-quality cannabis from seed to sale. The addition of Pacific Reserve Nursery's cultivation, packaging, wholesale operations, and state-of-the-art light-assist facility further expands KVC's depth and breadth of products from shelf-ready flowers to manufactured biomass that power a family of brands for its own retail shelves and statewide distribution in over 300 dispensaries.
Merging with Pacific Reserve Nursery gives KVC the opportunity to scale production while upholding its core value of delivering affordable, fresh, high-quality cannabis. The newly added 124,500-square-foot flower canopy and the 110,000-square-foot nursery have increased throughput overnight. KVC's plan is to complete construction at Pacific Reserve operations to add an additional 425,000 square feet of flower canopy at the end of 2022 to meet statewide distribution needs and maintain Farm Direct options for local shops.
"Pacific Reserve is incredibly excited to have joined forces with Kolaboration Ventures. With our integrated teams and vast assets, we will be able to achieve quicker growth while still holding true to our values, quality of product, and cannabis roots." — Brook Eagle, President, Pacific Reserve Nursery
Pacific Reserve's expertise in the cultivation of AAA-grade quality cannabis in mixed-light and indoor environments keeps KVC's high-grade products affordable for consumers.
"By bringing the years of Pacific Reserve's expertise into the Kolaboration Ventures team, we now have the ability to further develop our product line and keep our AAA-grade Farm Direct quality, enabling us to deliver the freshest product possible at affordable prices for our consumers," said Andrew Wesley, co-founder, Kolaboration Ventures Corporation.
"This merger enables KVC to deliver a broad and compelling offering to our wholesale customers. With our brands on their shelves, they will be differentiated in their markets with a great selection of fresh products at compelling prices," said Martin Wesley, co-founder, Kolaboration Ventures Corporation.
About Kolaboration Ventures Corporation KVC is one of the largest vertically integrated cannabis operators in the largest cannabis market in the country: California. KVC strives to become the most important company in the California cannabis landscape by combining its strategic cultivation footprint with its leading retail, manufacturing, and distribution platform. Employing a consumer-packaged-goods ("CPG") approach to cannabis, KVC's house of brands and products is designed to meet the needs of all consumer segments and includes some of the most recognized and trusted California brands, including Pacific Reserve, Farms Brand, Rio Vista Farms, and Ole'4 Fingers.
CAUTIONARY DISCLOSURE ABOUT 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. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the statements, including, but not limited to, the following: the ability of KVC to provide for its obligations, to provide working capital needs from operating revenues, to obtain additional financing needed for any future acquisitions, to meet competitive challenges and technological changes, to meet business and financial goals including projections and forecasts, and other risks. KVC undertakes no duty to update any forward-looking statement(s) and/or to confirm the statement(s) to actual results or changes in its expectations.
Source: Kolaboration Ventures Corporation