Business
LVGI Subsidiary, Summit Harbor Holdings, Finalizes Due Diligence and Closes Acquisition Agreement With Emergent Design-Build Solutions, LLC
LVGI Subsidiary, Summit Harbor Holdings, Finalizes Due Diligence and Closes Acquisition Agreement With Emergent Design-Build Solutions, LLC.
About this update from Limitless Venture Group Inc.
[{"type":"text","content":"\nTulsa, OK, March 28, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Limitless Ventures Group, Inc. (OTC PINK: LVGI), through its wholly-owned subsidiary, Summit Harbor Holdings, Inc. (SHHI), has closed the first of three current acquisition negotiations. SHHI has finalized all requirements for the acquisition of majority ownership in Emergent Design-Build Solutions, LLC, an architectural and construction firm specializing in the development of cannabis and hemp related projects. \n Emergent Design-Build Solutions owners Aaron Gaddy, director of construction management, Jason Gibson, director of design, and Dewayne Havens, director of operations, will continue to oversee day to day operations. “We know we have joined the right team with Summit Harbor Holdings and LVGI,” stated Dewayne Havens, Emergent Design-Build Solutions operation director.  “Together, we will achieve our goal of designing and building the highest quality facilities in the expanding cannabis and hemp markets in Oklahoma and the surrounding states.” The fiscal calendar year of Emergent Design-Build Solutions will mirror LVGI to simplify accounting and accelerate the audit process. The projected revenues for Q4 2018 are anticipated to exceed $1,200,000.  The 2019 revenue target is $4,800,000 and the 2020 revenue target is $6,720,000. “The alignment of our corporate visions and the determination of our leadership teams equip SHHI and Emergent Design-Build Solutions to provide a much needed service to the regional cannabis and hemp markets while meeting our 2019 fiscal targets,” said Summit Harbor Holdings President Devon Diaz. Due diligence and agreement discussions continue with both Vertical Farm Mechanics, an innovator of new agricultural technologies, and New Horizon Farms and Grand Lake AG, operations specializing in the farming and processing of hemp products. “We are excited to add another critical component to the services division of Summit Harbor Holdings,” said Limitless Venture Group CEO Joseph Francella. “This is the first of multiple industry-support operation acquisitions targeted for 2019.” LVGI also has completed the dissolution of the HempCore health brand and products in exchange for the cancellation of a $25,000 note with interest instead of converting th...