Business
StereoVisions Subsidiary CannaVision Completes 1,000 Acre Hemp Farm Lease Agreement with Puerto Rico's Calimano Benito Group
StereoVisions Subsidiary CannaVision Completes 1,000 Acre Hemp Farm Lease Agreement with Puerto Rico's Calimano Benito Group.
About this update from Stereo Vision Entertainment, Inc.
[{"type":"text","content":"\n\n Las Vegas, NV, March 06, 2018 (GLOBE NEWSWIRE) -- StereoVision Entertainment Inc (OTC:SVSN) a publicly traded Nevada company announced today that their majority owned medical cannabis and organic hemp subsidiary, CannaVision has completed a 1,000 acre hemp farm lease agreement in Puerto Rico with the Calimano Benito Group.\n StereoVision’s majority owned medical cannabis and organic hemp subsidiary, Cannavision has completed a ‘zero cost rent’ 1,000-acre lease with the Calimano Benito Group. Cannavision will provide the funds necessary to cultivate and harvest the hemp crop and distribute the products generated. CannaVision is to recover all its costs first and the profit is then to be split 50-50 with the Calimano Benito Group. StereoVision’s CEO Jack Honour stated, “We very much want to thank Andres Romero and Raul Matos and the Calimano Benito Group for shepherding this very favorable lease agreement through to fruition. As previously announced on 2/8/18 Andres has assured us we are definitely getting an industrial hemp cultivation permit in Puerto Rico” Puerto Rico’s former Governor and U.S. Congressman Carlos Romero-Barcelo was StereoVision’s Vice Chairman from 2008 to 2015, and his son Andres remains a trusted Board of Directors member and advisor. Senor Romero is General Manager of all StereoVision’s business activities in Puerto Rico. Currently, Puerto Rico imports 90% of its produce leaving their farming industry at a virtual standstill. Our plan is to syndicate farmers across Puerto Rico to grow organic hemp. At each farm, we plan to install hurricane-resistant solar fields, so each farm will be energy independent while generating enough electricity to sell back to the grid. The organic hemp product that is our priority is the health food supplement CBD. In a best-case scenario, as much as $140,000US per acre per harvest can be generated from the CBD in organic hemp. Because of the favorable climate in Puerto Rico, unlike Canada where hemp cultivation is legal, but they generally get only one crop a year, in Puerto Rico we can get two maybe even three crops a year which could generate as much as $420mil in CBD sales per year. There are a number of other products that can be derived from hemp including inexpensive eco-friendly building products like hempcrete, a...