SIML Continues to Pay Off Convertible Notes While Finalizing Delivery of $24M in CBD Orders
Grass Valley, CA - (NewMediaWire) - September 17, 2019 - Simlatus Corporation (OTC PINK: SIML) (“Simlatus” or the “Company”) announces today that between March and August of this year it has prepaid 5 notes for a total principal, interest and penalties of over $2M.
Pursuant the 8K filing of September 16, 2019, the company is finalizing the delivery of 14 CBD Extraction Systems in value of $24M. Further negotiations are taking place with various groups for additional systems. These are very expensive systems that require a large space to accommodate all of the features inclusive of the Cold-Water CBD Extraction equipment combined with the Alcohol CBD Extraction systems. Certification for C1D1, and State regulations are a part of the process prior to acceptance of any deposits and cash from the clients.
Richard Hylen, CEO, stated, “Whenever possible, we have been prepaying convertible notes and retiring any reserves and shares back to treasury. We still have the responsibility to reserve shares on future notes.”
Safe Harbor for Forward-Looking Statements: This news release contains forward-looking statements which are not statements of historical fact. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”, “estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to changes in general economic and financial market conditions. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Richard Hylen, CEO
Tel: (530) 205-3437