Golden Developing Solutions will be officially moving into its new 25,000 square-foot production facility in Denver, CO, on June 10, 2019.
Management notes that new equipment associated with outfitting the facility is being funded by a new financing agreement that is already in place. Equipment will arrive in the next forty-five days. The Company anticipates a five-fold increase in total production levels in the first three months following delivery and installation.
As noted in the Company’s release dated May 20, 2019, the new facility will house primary production for the Company’s wholly-owned subsidiary, Infusionz.
“We are excited to get into the new facility, get organized, and ramp up operations,” commented DVLP CEO Stavros Triant.
The Company was excited to receive news of recent bills signed into law by Colorado Governor Jared Polis on May 29, following passage by state legislators in session. House Bill 1090 has particularly strong implications for investments in the Colorado Hemp, Cannabis, and CBD sector, as outlined in a recent piece in the Denver Business Journal. Specifically, the bill allows publicly traded companies to have cannabis licenses and enables more investments in the state’s cannabis industry by venture capitalists and other private equity firms by removing the limit of 15 out-of-state owners per cannabis company.
Mr. Triant continued, “When we acquired CBD Infusionz, the problem they were facing was too much demand and an inability to handle the pace of expansion. That’s the best problem to have in business when you have access to capital and an experienced management team. Colorado is extremely friendly to that mission. The next three months should be the start of a very fun ride.”
For more information:
Golden Developing Solutions
900 Ranch Road 620 South. Suite C101-143. Austin, TX 78734