Wanderport Corporation Outlines Company’s Cannabis
Initiatives
SANTA MONICA, Calif., Nov. 2, 2014 -- WanderPort Corp. (OTC
Markets: WDRP) is pleased to outline its initiatives on
capitalizing the emerging medicinal and recreational cannabis
market.
In the third quarter, former management decided, after thorough
assessment, that it was not in the best interest of the company to
continue with its water heater products and appointed new
management to take control and to chart a new direction. As
the result, new management made a decision to discontinue the
production of the water heaters and pursue the rapidly developing
multi-billion dollar cannabis industry.
There are currently 23 states and the District of Columbia that
have legalized marijuana for medicinal applications. Among
these, Colorado and Washington have legalized it for recreational
use. Alaska, Oregon and Washington D.C. will join in
legalizing cannabis for recreational use and Florida for its
medicinal use if it is approved by the voters in the midterm
election on November 2. Based on popular polls, it is likely
that these initiatives will pass.
According to ArcView Group, the legal U.S. cannabis industry was
$1.5 billion in 2013 and is forecast to reach $2.6 billion by the
end of 2014 and $10.2 billion by 2018. In the two states that
approved marijuana for recreational use, Colorado’s and
Washington’s 2014 market is projected to be $800 million and $300
million, respectively.
There are various components that make up the industry which
could range from ancillary products and services to the actual
cultivation and production of the products themselves. For
the near term, Wanderport will seek to become a licensee or acquire
stakes in businesses that focus on edibles and wellness
products. For the long term, the Company wants to develop a
bio-technology competency and offer related products and
services.
The Company plans to take a stair step approach to growth in
order to minimize dilution. It will initially focus on
numerous smaller transactions with manageable risks to gradually
create value. As the industry and business become more
mature, the Company will take larger risks with larger transactions
for accelerated growth.
“We are currently in talks and conducting due diligence with a
few potential acquisition candidates. We are very conscious
about dilution and shareholders’ value so we are taking the
necessary time to properly align ourselves with the right partners
in our effort to grow and to help legitimize the industry”, stated
Eric Brown, Chief Executive Officer. “The opportunities in
this industry are boundless and if we execute correctly, I am
confident that we can become one of the prominent industry leaders
not too far in the future” added Brown.
About Wanderport Corp.
Wanderport Corporation specializes in licensing, distribution
and obtaining proprietary rights to various unique technology while
continuing to be an acquisition minded company targeting various
licenses, technologies and/or companies in key emerging growth
industries. For more information, please visit http://www.wanderportcorp.com.
Forward-Looking Statements:
Statements made herein, other than historical data, constitute
forward-looking statements that involve risks and uncertainties
that could cause actual results to differ materially from those
stated or implied by such forward-looking statements. The potential
risks and uncertainties include, among others, potential volatility
in the company's stock price, increased competition, customer
acceptance of new products and services to be offered by the
company, and uncertainty of future revenue and profitability and
fluctuations in its quarterly operating
efforts. Forward-looking statements are projections of events,
revenues, income, future economics, research, development,
reformulation, product performance or management's plans and
objectives for future operations. In some cases you can
identify forward-looking statements by the use of terminology such
as "may", "should", "anticipates", "believes", "expects",
"intends", "forecasts", "plans", "future", "strategy", or words of
similar meaning. While these forward-looking statements and
any assumptions upon which they are based are made in good faith
and reflect current judgment regarding the direction of the
business operations of Wanderport Corporation, actual results will
almost always vary, sometimes materially, from any estimates,
predictions, projections, assumptions or other future performance
suggested in this press release. These statements are
predictions and involve known and unknown risks, uncertainties and
other factors, including the risk that Wanderport Corporation
cannot execute its business plan for lack of capital or other
resources, distribution, licensing/acquisition opportunities or
internal partnering issues or restructuring/resignation which may
modify existing licensing agreement, arrangements and/or
contractual obligations, as well as the risks described in the
periodic disclosure documents filed on OTCMarkets.com by Wanderport
Corporation. Any of these risks could cause Wanderport
Corporation or its industry's actual results, levels of activity,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements in this
press release. Except as required by applicable law, including
the securities laws of the United States, Wanderport Corporation
does not intend to update any of the forward-looking statements to
conform these statements to actual results.
Contact:
Wanderport Corporation
www.wanderportcorp.com
Investor Relations:
info@wanderportcorp.com
(310) 526-8720