Business
StereoVision Forms GreenVision Systems LLC, an Equally Owned Puerto Rico Company, for the Acquisition of Licenses for the Legal Cultivation, Manufacturing, and Transportation of Cannabis Products in Puerto Rico
StereoVision Forms GreenVision Systems LLC, an Equally Owned Puerto Rico Company, for the Acquisition of Licenses for the Legal Cultivation, Manufacturing, and Transportation of Cannabis Products in Puerto Rico.
About this update from Stereo Vision Entertainment, Inc.
[{"type":"text","content":"\n \n \n StereoVision Forms GreenVision Systems LLC, an Equally Owned Puerto Rico Company, for the Acquisition of Licenses for the Legal Cultivation, Manufacturing, and Transportation of Cannabis Products in Puerto Rico\n \n \nStereoVision Forms GreenVision Systems LLC, an Equally Owned Puerto Rico Company, for the Acquisition of Licenses for the Legal Cultivation, Manufacturing, and Transportation of Cannabis Products in Puerto Rico\n \n LAS VEGAS, NV--(Marketwired - Aug 2, 2016) - StereoVision Entertainment Inc., a Nevada publicly traded company (OTC PINK: SVSN), announced today the formation of the equally owned Puerto Rico company GreenVision Systems LLC. GreenVision's purpose is to acquire licensing for the legal cultivation, manufacturing, and transportation of Cannabis products in Puerto Rico.\n Puerto Rico's Governor Alejandro Garcia Padilla has certified a mechanism of \"emergency\" to allow the immediate implementation of the new Medical Cannabis Program. \"The emergency was decreed on July 8, 2016 and is being certified and done because, to the extent that there are no rules, access to medical treatment to patients who use Cannabis as part of their treatment is delayed,\" he said. The certification signed by Governor Padilla also highlights the usefulness of the program as a tool for economic development. \"The new Medical Cannabis regulations encourage local investments, attracts foreign investments, and creates jobs in research, manufacturing and dispensing. It also boosts the agricultural sector, medical tourism, and is attracting a good amount of taxes,\" says the document.\n \"For 10 years we've been developing our presence in Puerto Rico,\" said StereoVision's CEO Jack Honour. \"Because of our extensive network of contacts in Puerto Rico and the generous filmmakers' incentives, several of StereoVision's films were designed specifically to be produced there. As per Puerto Rico's rules relative to Cannabis licenses, with our 51% Puerto Rican resident partner and our 49% share, upon licensing approval we intend to maximize our potential by bringing in a seasoned operating partner with a history of success in the Cannabis industry. We will then look into acquiring further licensing. An additional value in Puerto Rico is banking coops are already in business allowing Cannabis businesses to have operating accounts and...