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LiveWire Ergogenics Reports Q3 2021 Financial Results Announces Acquisition of Estrella Ranch Partners
LiveWire Ergogenics Reports Q3 2021 Financial Results Announces Acquisition of Estrella Ranch Partners.
About this update from Livewire Ergogenics, Inc.
[{"type":"text","content":"\n Anaheim, CA, Nov. 15, 2021 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organic sun-grown cannabis products for medical and recreational adult-use in California; today files its financial report for Q3, 2021 and announces the acquisition of a majority equity position in Estrella Ranch Partners, LLC. Bill Hodson, CEO of Livewire Ergogenics, Inc., states, \"With the end of the third quarter of 2021 behind us, we are now solidly positioned in the starting blocks ready to take off with expanding operations into 2022. We have spent most of the last two years maneuvering through an increasingly complex cannabis legal environment and concluding the cultivation compliance and permitting process. We have finalized all required buildouts on Estrella Ranch in its first phase and continue building out the entire 130,000+ sqft of a legal, environmentally compliant, and fully operational cannabis cultivation available under the current land use permit on Estrella Ranch. We will apply for additional permits to expand the current cultivation area once this phase has been successfully concluded. The propriety cultivation process led by our affiliate Estrella River Farms follows strict organic growing guidelines and has produced exceptional results. The Farm has delivered the first harvest to the distributor for processing and delivery to the market. While this achievement is not yet reflected in our Q3, 2021 financial performance, meeting those milestones creates a solid basis to improve our financial performance for Q4 of 2021, the entire year of 2022, and the years ahead.\" Hodson continues, \"Reaching this crucial milestone and having clarified some of the legal complexities, we are now in a position to proudly announce the acquisition of a majority equity position in Estrella Ranch Partners. We consider cannabis real estate property ownership one of the most crucial elements for success in the sector. This acquisition will allow us to consolidate financials and provide shareholders with a level of predictability of increasing revenue generation and, most importantly, profitability.\" The Company is in the process of further solidifying its affiliate and subsidiary relationsh...