Business
DVLP Acquires New 25,000 Sq. Ft. CBD Facility, Anticipates 500% Production Jump
DVLP Acquires New 25,000 Sq. Ft. CBD Facility, Anticipates 500% Production Jump.
About this update from Golden Developing Solutions, Inc.
[{"type":"text","content":"\nDENVER, May 20, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Golden Developing Solutions, Inc. (OTCMKTS: DVLP) (“DVLP” or the “Company”), an emerging leader in the Cannabis, Hemp, and CBD marketplace, is excited to announce Lease of a new 25,000 square-foot production facility located in Denver, CO. The facility will act as the primary production base for the Company’s wholly-owned subsidiary, Infusionz, LLC (“CBD Infusionz”), a premium manufacturer of high-quality CBD products. The 54-month initial-term lease for the facility has been finalized, and the move-in process has already begun.\n \"This new location represents a powerful catalyst for accelerated growth potential,\" noted Stavros Triant, CEO of DVLP. \"Our CBD Infusionz segment is bursting at the seams right now. Demand already vastly out-strips supply capacity. This new facility directly addresses that issue, and should provide the necessary room for the explosive growth that we anticipated when we made that acquisition in March.” Management anticipates the move-in, customization, and permitting processes will take roughly 4-6 weeks to complete. Full-scale production will ramp up immediately thereafter. The Company anticipates an immediate 500% increase in total production with no additional increase in headcount once the new facility is up and running. Further automation over time will significantly increase that level. \"At present, we are seeing demand that exceeds production capacity by roughly 8 Times,” commented Nate Weinberg, Founder and President of CBD Infusionz. \"We can’t wait to move into the new facility to ramp up production and cash in on our strong brand positioning. This will also allow us to finally step on the gas pedal and further expand our market footprint because we will have confidence in the idea that we can meet further demand growth.” The new facility comes fully-equipped for advanced operations precisely matching the Company’s needs, including dual dock-high loading doors, an oversized drive-in loading access, 3000 AMPS of electrical power, 18 tons of HVAC capacity, installed fire sprinkler and advanced security systems, and existing site licensing as a Marijuana Infused Products Provider (MIPP). Mr. Triant continued, “We have committed ourselves to scaling produ...