NAPLES, Fla., April 8, 2021 /PRNewswire/ — Econic Crop Solutions Inc, a Division of ZA Group Inc. (OTC: ZAAG) is pleased to report a quickly growing demand amongst several First Nations communities across Western Canada for our flagship product. An explosion in pre-orders have required us to carefully ramp up operations to meet distribution needs throughout the entire community’s dispensaries. Additionally, correspondence is pouring in requesting that the company launch and manage several new dispensaries throughout the province. In the process of fulfilling recent demand, the company also proudly reports steady progress across the board, including its manufacturing facility, where new grow pods are continually being completed and deployed.
Econic currently has a back log of approximately 330 pods. Projected revenues for each pod per grow cycle is nearly $100,000, with the ability of up to four grow cycles per year. Upon the fulfillment of pre-orders, estimated revenues are approximately $132,000,000 per year. According to Grandview Research, “The global legal marijuana market size is expected to reach USD 84.0 billion by 2028…….North America accounted for the largest revenue share of 91.1% in 2020.”
When asked to comment on the increased product demand, Wade Eno, CEO of Econic stated, “We were well aware at the conception of this venture what a unique and immensely lucrative opportunity we were presented with. To put some perspective on the potential, there are more than 630 First Nations communities across Canada and many embrace these products as their traditional healing medicines. What sets our company apart is our ability to transport, and this unprecedented strategy will change the face of Cannabis Worldwide.”
John Morgan, President of ZA Group, stated, “As we see an exponential growing regulatory trend both in Canada and the United States, with increasing support and need for Cannabis and Hemp products, Econic is perfectly positioned to become a recognized leader and major disruptor. The company specializes in all aspects of the industry, from grow technology, development, and manufacturing, to production and extraction, and of course, dispensaries and operation. We feel strongly this subsidiary will add substantial shareholder value. Thank you to all our loyal shareholders, we are excited to embark on this adventure with you.”
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Forward Looking Statements:
This press release contains forward-looking statements. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. The Company has based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Some or all of the results anticipated by these forward-looking statements may not be achieved. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE ZA Group Inc.