Rogue Station Companies, Inc. (OTC Pink: RGST) seeks to become integrated cannabis company after announcing new management team. Shares of the cannabis company skyrocketed 456%, during trading on Tuesday, October 29, 2019. Over the past month, Rogue Station Companies has seen average daily volume of 5,814 shares. However, volume of 71,237 shares or dollar volume of $9,901, exchanged hands during trading on Tuesday.
Shares of Rogue Station Companies soared on Tuesday, after the company announced the appointment of a new management team, after the appointment of John Conroy as the new CEO and Chairman of the Board. Effective October 1, 2019, the company terminated the acquisition of an Oregon-based cannabis company. In addition, an Investment Banking and Consulting Agreement with South Beach Live was terminated and 15 million shares of common stock returned and deposited into company’s treasury. Rogue Station Companies entered into a Letter of Intent (LOI) to acquire 100% of Brahman, LLC (dba Terpp Extractors), a Fort Collins, Colorado-based cannabis processing equipment manufacturer. The LOI was entered into on October 16, 2019. Here is the full press release detailing of the new shareholder updates:
Rogue Station Companies, Inc. Press Release:
BATON ROUGE, La., Oct. 29, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Rogue Station Companies, Inc. (OTC: RGST) announced the acquisition of the Oregon based cannabis company was effectively terminated on October 1, 2019. Subsequently, the Company has appointed John Conroy as CEO and Chairman of the Board and the Company has relocated its’ base of operations to Baton Rouge, Louisiana. Mr. Conroy commented, “This wasn’t the move I anticipated at the end of last year but one which has become necessary as we continue to explore opportunities in the cannabis space. Mr. Keeler will remain as COO because of his expertise in cannabis operations and will continue to serve on the Board.
Subsequently, the Investment Banking and Consulting Agreement with South Beach Live has been terminated and the 15 million shares of common stock have been deposited back into the company’s treasury.
On October 16, 2019 the Company entered into a Letter of Intent to acquire 100% of Brahman LLC, d/b/a Terpp Extractors, a Fort Collins, Colorado-based manufacturer of cannabis processing equipment.
Terpp Extractors has been a leading manufacturer of Closed Loop Systems used in processing cannabis concentrates by hydrocarbon extraction since 2015. The company has an impeccable reputation of supplying extremely high quality, safe extraction equipment to a global market at an affordable price, with a focus on safe operation, over-engineered quality and a high yield design. By the end of 2016, Terpp Extractors was awarded the 25th spot on the CBE Top 100 List of ancillary businesses making equipment that can be used in the concentrate essential oils industry.
Mr Conroy stated, “When you analyze the various revenue trends within the cannabis industry, the one segment out pacing them all is extraction/processing and this trend is expected to continue. Extraction and processing is the process of taking cannabis or hemp and extracting the highly concentrated cannabis or CBD oils. An article published in Grizzle.com (https://grizzle.com/cannabis-extraction-industry-guide/) further illustrates this expanding segment and its critical role in the cannabis industry. The acquisition of Terpp Extractors, Inc puts us directly on the supply side of that market space. As the demand for extraction equipment increases, Terpp Extractors will be positioned to meet that demand. It is a great opportunity for Rogue Station Companies, Inc. and one that will enable us to continue and expand the founder’s vision of Terpp Extractors.”
Chief Operating Officer Robert Keeler, stated, “Extraction and related services is among the fastest growing segment of the cannabis business in the US. Terpp Extractors has developed premier products that are well respected in the extraction community. Our team brings operational expertise and marketing skills to their great products.”
Lori Hainkel, Brahman’s Managing Member, added, “Many of our customers and competitors struggle with scaling in the current state-by-state cannabis regulatory regime. Our products work everywhere and we expect to build deep relationships in each place where consumers seek the quality concentrates we make possible. We appreciate the opportunity to capitalize on our contacts and reputation to expand into larger scale extraction equipment and installations.”
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as “anticipate,” “believe,” “plan,” “estimate,” “expect,” “intend,” and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company’s reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company’s estimates as of the date of the press release, and subsequent events and developments may cause the Company’s estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company’s estimates of its future financial performance as of any date subsequent to the date of this press release.