Captiva Verde Land Corp Announces Corporate Update
Vancouver, British Columbia--(Newsfile Corp. - October 24, 2018) - Captiva Verde Land Corp (CSE: PWR) (the "Company") is pleased to announce several significant corporate updates.
Real Estate Subdivision in California
Our 1,012 lot $350 Million California subdivision, has very recently been designated by the US Federal Government as a Qualified Opportunity Zone. The US Treasury has released its first round of opportunity-zone regulations on Friday. Tapping $6.1 trillion in potential capital gains, opportunity zones are to reshape capital markets and reinvigorate dozens of major American cities. Tax benefits for structured capital infusions will encourage U.S. taxpayers to capitalize on real-estate projects, infrastructure and businesses in America's heartland. This includes the offer of tax-free profits for investments held for a set period of time.
Today's program aims to drive hundreds of billions of private dollars into more than 8,700 designated zones covering nearly 12% of the U.S. and 35 million people. Treasury Secretary Mnuchin's conservative estimate is that this can translate to an average of more than $7,300 in investment for each household in these communities. Captiva is more than delighted by this program and will move forward with select investment funds on this new and focused tax-deferred and tax-advantaged capital structure, providing very low cost project capital, increasing the Captiva asset value, and avoiding any dilution to shareholders. Captiva owns 50% of this project.
Legal Hemp product sales program with Major North American Retailers
Captiva is acquiring from Greenbriar Capital Corp ("Greenbriar"), an immediate undivided 33.3% interest in and to a substantial production and marketing partnership agreement with the top Hemp branding and marketing firm in North America as well as the top "Big Box" Product Developer of membership based retail sales. Our Product Development Partner has sold many Billions of Dollars of products to the big box membership retailers over the past three (3) decades. Under this Agreement, Captiva and its partners have developed several established branded marketing lines of various highly regarded legal hemp products for major distribution. Details of the products are confidential but will be released in due course. Captiva is actively working to increase its 33.3% interest in the immediate future. Greenbriar was required to sell its interest as the Toronto Venture Exchange continues to prohibit Hemp related products in a business plan. Captiva is listed as a Life Sciences company on the Canadian Securities Exchange where such activities are permitted. The terms of the deal whereby Captiva has acquired Greenbriar's interest will be announced shortly, as negotiations are underway for additional interest.
Discussions to acquire land and permits for Hemp production, processing and sales
Captiva is in discussions to acquire land and permits for the legal cultivation, processing and distribution of Hemp products within a very significant Latin American country. Captiva believes it will be successful in this acquisition. Information regarding the country at hand will be released shortly. Captiva believes most of the legal Hemp related activities will eventually need to move to Latin America, so as to be price competitive, and that Canadian and US production and government tax rates is simply too expensive for long term affordability.
Captiva Verde Land Corp is a sustainable real estate company that invests in assets that contain green residential communities, disruptive manufacturing facilities, organic food production and Cannabis operations. Captiva is listed as a Life Sciences company on the Canadian Securities Exchange under the symbol PWR.
On Behalf of the Board of Directors
Chief Executive Officer and Director
Cell: (949) 903-5906
Cautionary Statement Regarding "Forward-Looking" Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as "anticipates", "plans", "expects", "intends", "is expected", "potential", "suggests" or variations of such words or phrases, or statements that certain actions, events or results "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.