DGDM's Hemp Processing Plant For Hemp-Based Alternative Meat Opportunity Set to Capitalize on Investor-Friendly "Opportunity Zone"
Flower Mound, Texas and Ronan, Montana--(Newsfile Corp. - October 12, 2020) - Digital Development Partners, Inc. (OTC PINK: DGDM) ("DGDM" or the "Company"), doing business as Black Bird Potentials Inc., the exclusive distributor of MiteXstream biopesticide and manufacturer of Grizzly Creek Naturals CBD products (GrizzlyCreekNaturals.com), today announced that the first Black Bird American Hemp™ processing plant will be located in an investor-friendly "Opportunity Zone" in Montana. The Company is evaluating competing Montana properties within Opportunity Zones on which to locate its hemp processing facility that will focus on producing high-quality hemp protein products for sale into the rapidly expanding alternative meat, or meatless food, industry. A final determination is expected by the end of October 2020.
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Opportunity Zones: An Economic Engine. "By building our plant within an Opportunity Zone, we are confident that we will be able to fund plant construction through direct investments of private equity, due to the extremely beneficial tax benefits that would be available to certain investors, or by other available means, including through the use of industrial bonds or traditional financing sources," said Fabian Deneault, President of DGDM. "This strategy will permit us to minimize dilution to our current shareholders," Mr. Deneault added.
According to the Council of Economic Advisors report on the impact of tax incentives on Opportunity Zone investment entitled The Impact of Opportunity Zones: An Initial Assessment, through 2019, the tax incentives had brought $52 billion in new investment in Opportunity Zones. Information regarding Opportunity Zones is available from the Company via e-mail request to: email@example.com.
Minimizing Shareholder Dilution. To avoid significant and unnecessary shareholder dilution, DGDM's management has determined that the first hemp processing facility of Black Bird American Hemp will be financed through private sources, which are expected to include one or more of the following: private equity, bank loans and industrial revenue bonds.
DGDM: Doing Good, Doing More. DGDM is always looking for ways to live up to its mission statement, Doing Good, Doing More.
Through its subsidiary Black Bird Potentials, DGDM manufactures and sells CBD products, including CBD Oils, gummies and pet treats, and CBD-infused personal care products, as well as hand sanitizer gel and spray products. In addition, Black Bird is a licensed grower of industrial hemp under the Montana Hemp Pilot Program. Black Bird is the exclusive distributor in the U. S. and Canada for MiteXstream, a plant-based biopesticide effective in the eradication of spider mites, a pest that destroys crops, especially cannabis, hops, coffee and house plants, as well as molds and mildew. EPA approval of MiteXstream is expected in late 2020.
Notice Regarding Forward-Looking Statements
This news release contains forward-looking information including statements that include the words "believes," "expects," "anticipate," or similar expressions. Such forward looking-statements involve known and unknown risks, uncertainties, and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof. Information concerning these and other factors can be found in the company's filings with the SEC, including its Forms 10-K, 10-Q, and 8-K, which can be obtained on the SEC's website at http://www.sec.gov.
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