ACCESS Newswire
23 Feb 2021, 18:07 GMT+10
NEW YORK, NY / ACCESSWIRE / February 23, 2021 / Foundation Farms, Corp., ('Foundation Farms') a subsidiary of GME Innotainment, Inc. ('GMEV') GME Innotainment Inc. (OTC PINK:GMEV) and ZA Group Inc. (OTC PINK:ZAAG) are pleased to announce that their respective subsidiaries, Foundation Farms (GMEV subsidiary) and Econic (ZAAG subsidiary) have verbally agreed to collaborate in the manufacturing and deployment of their respective indoor farming technologies.
Econic, owner of a 15,000 square foot manufacturing facility builds, owns and operates containerized grow pods for the production of cannabis medical products. Foundation Farms business is to build, own, and operate indoor vertical farms for the production of leafy greens and associated food products. The collaborative arrangement will provide opportunities for mutual capital cost savings in both equipment procurement and assembly labor. Key components of the respective technologies such as LED lighting systems, pumps and controls and tanks are common to both companies. Secondly, both companies intend to share their respective market opportunities.
The first two steps in this working arrangement have already been taken. Foundation Farms is leasing a portion of the Econic facility to house the company's first vertical farm in Red Deer, Alberta. Secondly, Econic announced last week that one of its First Nations customers for future cannabis grow pods has signed a Letter of Agreement to lease a leafy greens vertical farm. As part of that announcement, Econic reported that it is forwarding this business opportunity to Foundation Farms.
In a joint statement, Ed Kroeker, CEO of Foundation Farms and Wade Eno, CEO of Econic excitedly shared that, 'Our collaborative sharing arrangement, while simple in structure, will serve to multiply our growth potentials.'
Yves R. Michel, GMEV CEO commented that 'It is a great opportunity for two companies with diverse, but complimentary, business goals to share critical resources in a manner that catapults both partners into the upper tier of business success, within their respective sectors,' and John Morgan, President of ZAAG added, 'We have two companies with green technologies that understand how the world of nature harnesses symbiosis to achieve success and who share the same vision for corporate success through collaborative arrangements.'
Yves R. Michel
Chief Executive Officer and Director
208 East 51st St., Suite 170
New York, NY 10022
Source: GME Innotainment, Inc. ('GMEV')
www.srcorpgroup.com
Released February 23, 2021
OTCPink: GMEV
This press release may include certain statements that are forward-looking in nature and that involve a number of uncertainties and risks. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements in this press release are based on GME Innotainment, Inc., current expectations and projections regarding future events, which are based on currently available information. The forward-looking statements in this press release may also include statements relating to GME Innotainment, Inc.'s anticipated new developments, business prospects, financial performance, strategies and similar matters. GME Innotainment, Inc. disclaims any obligation to update any of its forward-looking statements, except as may be required by law.
SOURCE: GME Innotainment, Inc.
Get a daily dose of Miami Mirror news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Miami Mirror.
More InformationPALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
SANTA CLARA, California: Nvidia came within a whisker of making financial history on July 3, briefly surpassing Apple's all-time market...
SACRAMENTO, California: California's multibillion-dollar farms are facing a growing crisis—not from drought or pests, but from a sudden...
WASHINGTON, D.C.: The Trump administration has made public a visa decision that would usually be kept private. It did this to send...
MADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...