Business
LVGI Subsidiary, Summit Harbor Holdings, Finalizes Due Diligence and Acquires Major Majority Ownership of Vertical Farm Mechanics
LVGI Subsidiary, Summit Harbor Holdings, Finalizes Due Diligence and Acquires Major Majority Ownership of Vertical Farm Mechanics.
About this update from Limitless Venture Group Inc.
[{"type":"text","content":"\nTulsa, OK, April 24, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Limitless Ventures Group, Inc. (OTC PINK: LVGI), through its wholly-owned subsidiary, Summit Harbor Holdings, Inc. (SHHI), has finalized all requirements for the acquisition of major majority ownership in Vertical Farm Mechanics.\n Vertical Farm Mechanics is an innovator of new agricultural technologies and is revolutionizing the future of farming through vertical growing and lighting systems. These patent-pending products are currently available for purchase at https://verticalfarmmechanics.com.  Summit Harbor Holdings will be enhancing the go-to-market strategy for national distribution and implementing a significant operational expansion to meet product demand.  “The acquisition of Vertical Farm Mechanics marks the closing of the second of our three initial memorandums of understanding and we are working diligently with New Horizon Farms’ attorneys to finalize the third agreement,” stated Limitless Venture Group CEO Joseph Francella.   “Adding Vertical Farm Mechanics to Summit Harbor Holdings’ group of integrated companies allows SHHI and LVGI the opportunity to make a considerable social impact in addition to providing superior shareholder value,” Francella continued.  “With the Vertical Farm Mechanics system, you can grow anything you can imagine – from fruits and vegetables to industrial hemp – in both indoor and outdoor environments which allows for year-round harvests,” said Summit Harbor Holdings Vice President and COO, Matthew Habuda. “Summit Harbor Holdings recognizes the value that Vertical Farm Mechanics can bring to urban food deserts and areas of food shortage around the world,” Habuda continued. “SHHI is developing a program that will allow for a donation of Vertical Farm products, based on the number of units sold, to nonprofits and international programs addressing hunger issues.” To further its social mission, Vertical Farm Mechanics intends to employ people with disabilities and individuals participating in second-chance programs to provide manufacturing and assembly services. Summit Harbor Holdings also has secured a memorandum of understanding with Ceramic Cement Corporation (C3) for a joint venture discovery to develop new...