LIMITLESS VENTURE GROUP, INC SIGNS LOI TO ACQUIRE MAJORITY INTEREST IN CALIFORNIA TESTING LAB

LIMITLESS VENTURE GROUP, INC SIGNS LOI TO ACQUIRE MAJORITY INTEREST IN CALIFORNIA TESTING LAB

TULSA, OK / April 11, 2023 / Limitless Venture Group, Inc. (OTC PINK:LVGI) ("LVGI" or the "Company"), a publicly traded holding company that provides its shareholders with access to investment opportunities in small and medium-sized businesses uniquely positioned for rapid growth announced today that it has signed an LOI to purchase 51% of the issued and outstanding common stock of a California Testing Lab. Complete details and the name of the testing lab will be released when the Acquisition Agreement is signed. 

“We are very excited for the consideration of becoming a majority partner of this full spectrum testing lab in California.  I have known the owners for many years and have built a great deal of respect for their business acumen, so I am thrilled to have an opportunity to work with them to help expand their business.  This testing lab opened in October of 2019 and began testing CBD and other non-THC related consumables while they waited for the issuance of their full spectrum testing license.  Because the state of California has such rigorous standards around issuing testing licenses, only recently has the lab been authorized to operate a full spectrum testing for both Cannabis and CBD.  Obtaining a full spectrum testing license is quite an endeavor and therefore is considered a valuable intellectual property asset.  We are currently working with the executives and board of directors, to conduct our due diligence and would like to be in a position to execute a final acquisition sometime around June, 2023.  Joseph Francella and I have studied the opportunity of owning a lab for many years now as the market opportunity and the numbers are absolutely outstanding, especially right now.” States Devon Diaz, COO.

Joseph Francella, CEO states “ this is a great opportunity for both LVGI and its shareholders. We have been researching this industry for several years now and believe the Testing Lab side of the industry to be the most recession and competition proof cannabis business. All states require that all cannabis and CBD be tested for proof and contaminates. All growers are required to have their products tested before they can even sell them legally. Additionally, there are much fewer testing labs than Dispensaries or Grows. Because of those reasons we believe we can scale this business to profitability within a relatively short period of time.” Mr. Francella added “ we have been working with several other companies as well and the future looks promising for LVGI and its shareholders.”

About Limitless Venture Group, Inc.

Limitless Venture Group provides its shareholders with access to leading small and medium-sized businesses focused on growth. Leveraging its permanent capital base, disciplined long-term approach, and actionable expertise, LVGI owns controlling interests in its subsidiaries as it partners with management teams to build businesses with the capacity to unlock significant value for its shareholders.

For more information, please visit: www.lvginc.com.

The Company currently has three primary subsidiaries: Rokin, Inc., Limitless Technology Group, LLC, and KetoSports, Inc.

About Limitless Technology Group, LLC.

Limitless Technology Group, LLC, (LTG) is a wholly owned subsidiary of Limitless Venture Group, Inc. and was formed as an Oklahoma limited liability company on July 19, 2022.  LTG is focused on developing new and innovative opportunities in the e-commerce, crypto and metaverse markets. 

About Rokin, Inc.

Rokin was founded in 2016 with a mission to provide our customers with the highest quality, technology-driven vaping products available while providing exceptional customer service. Rokin Vapes are rigorously tested by Rokin and multiple consumer focus groups to ensure the products meet strict quality standards before any production takes place. After a product is selected and production complete, the product is certified to the latest FCC, CE standards (which are required for all vaping products) but then Rokin goes above and beyond to certify our vaping products to the latest RoHS standard, which restricts the use of six hazardous materials commonly found in electronic products. www.rokinvapes.com

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Disclaimer Regarding Forward-Looking Statements

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this release that are not historical facts, including, without limitation, statements that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development, may be deemed to be forward-looking statements. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of the release. Except as may be required under applicable law, we assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

SOURCE: Limitless Venture Group