Gold River Productions, Inc. (GRPS) and RushNet, Inc. (RSHN) Announce Sale of New Earth Development Corporation for Stock in Stevia Nutra Corp (STNT)
Palm Coast, Florida - (NewMediaWire) - March 5, 2020 - Gold River Productions, Inc. (OTC
Pink: GRPS) and RushNet, Inc. (OTC Pink: RSHN) jointly announce the sale of New
Earth Development Corporation (New Earth), on February 28, 2020.
The combined sale price is
$34,975,000, payable in shares of Stevia Nutra Corp. (OTC Pink: STNT) common
stock, 2,250,000 shares to Gold River and 250,000 shares to RushNet (this split
being in accordance with the terms of the joint venture agreement between Gold
River and RushNet). Based on the $13.99 price per share of Stevia Nutra common
stock as of the February 28, 2020 contract date, for this quarter, our
accountants confirmed that Gold River will report $31,477,500 in Revenues for
financial statement purposes. Similarly, RushNet’s revenues will include its
$3,497,500 from this transaction. Given the negligible amount of expenses that
each company incurs, the net income is expected to significantly exceed 90% of
the Revenues. As a further result of this transaction, each company will
report an asset of a like amount – $31,477,500 and $3,497,500, respectively.
Richard Goulding, MD, Chairman
of the Board, reports that “the agreement includes a cooperation provision
enabling Gold River and RushNet to continue their respective pursuits of this
burgeoning market, entitling each to a discounted price of goods and services
from New Earth Development Corporation, including from its subsidiary HempArmor
Inc.TM” Dr. Goulding continued, “We feel that Stevia Nutra is
uniquely positioned to pioneer the production of graphene products generally
and the hemp growing process which can provide the raw ingredients for
graphene. Furthermore, the company is positioning itself, via its recent
acquisition, HempArmor, to manufacture highly protective apparel for the
protection of persons, including through the use of 3D printing technology.”
Dr. Goulding cautions, however
that “while substantial income will be reported from this transaction, what we
ultimately realize on this transaction will be a function of how successful
Stevia Nutra, New Earth and HempArmor are in their various pursuits in this
market.”
Other recently consummated
acquisitions will also be announced shortly.
Safe Harbor Statement: This
release includes “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. Such statements include any that may predict, forecast,
indicate, or imply future results, performance or achievements, and may contain
the words “estimate”, “project”, “intend”, “forecast”, “anticipate”, “plan”,
“planning”, “expect”, “believe”, “likely”, “should”, “could”, “would”, “may” or
similar words or expressions. Such statements are not a guarantee of future
performance and are subject to risks and uncertainties that could cause the
company’s actual results and financial position to differ materially from those
in such statements, which involve risks and uncertainties, including those
relating to the Company’s ability to grow. Actual results may differ materially
from those predicted and any reported should not be considered an indication of
future performance. Potential risks and uncertainties include the Company’s
operating history and resources, economic, competitive, and equity market
conditions.
About RushNet, Inc.:
RushNet, Inc. is an edibles and
beverages-based company developing a number of stand-alone products, most
including enhanced with CBD. These products are designed to take advantage of
all natural and non-GMO grown foods, pristine mineral water enhancement, and
full-spectrum, broad-spectrum CBD and other rare cannabinoids.
About Gold River Production
Services, Inc.:
Gold River Productions is a top of the line
medical CBD company. With innovative products targeting specific disease states
using supplements, Gold River Productions, along with RushNet, is poised to
take CBD to the next level. With two of its top officials being not only
medical doctors, but well-versed in the field of cannabis, a team of scientists
and technical experts have joined forces to utilize all that CBD and Hemp have
to offer.
About the joint venture
between Gold River Productions Inc. and RushNet, Inc.: This joint venture is a unique combination of discipline
and qualified professionals to address unique and underserved needs, mostly
involving all areas of cannabis production (including hemp) from cultivation
and manufacturing to distribution and retail, with an emphasis on unique
products and high-quality CBD. RushNet is more focused on product
development, particularly edibles and beverages while Gold River Productions
addresses the more scientific elements of these pursuits, using formulations
found only in the formation of high-quality nutraceuticals. Together, they are
able to facilitate the vertical integration envisioned. Each is acquiring and
joint venturing with companies in all aspects of the cannabis field as they
jointly pursue a fully integrated cannabis and hemp business model.
CONTACT: RushNet, Inc.
support@rushnetinc.com
@RSHNOTC
www.RushNetInc.com
RushNets@socialstartnow.com
CONTACT: Gold River
Productions, Inc.
www.GRPSinc.com