Spotlight Growth
No Result
View All Result
Wednesday, February 8, 2023
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener
No Result
View All Result
No Result
View All Result
Home Cannabis

VIASPACE, Inc. (OTC Pink: VSPC) Soars 88% After Announcing Acquisition of Elite Therapeutics

by admin
February 11, 2019
in Cannabis, Consumer Goods
0
VIASPACE OTC Pink VSPC Announces Acquisition of Elite Therapeutics OTCQB ELTP News

VIASPACE OTC Pink VSPC Announces Acquisition of Elite Therapeutics OTCQB ELTP News

VIASPACE, Inc. (OTC Pink: VSPC) is engaged in growing of renewable Giant King® Grass as a low-carbon fuel for clean electricity generation and to be used as environmentally-friendly energy pellets for feedstock. Shares soared 87.50% on Monday, February 11, 2019. Over the past month, the company has seen an average daily volume of 969,389 shares. However, on Monday, 13,231,906 shares traded hands, equating to $9,920 in dollar volume.

Shares soared on Monday after VIASPACE announced it has entered into an agreement with Elite Therapeutics, Inc. Under the agreement, VIASPACE will acquire Elite Therapeutics. Previously, the two companies signed a non-binding LOI, but in May 2015, “the proposed acquisition was tabled to allow each company to focus on their respective core businesses.”  Dr. Kevin Schewe, Chairman and Acting CEO of VIASPACE, commented, “We are projecting that the acquisition of Elite Therapeutics will add more than $300,000 of revenue to VIASPACE in 2019 with plans to grow the luxury CBD cosmetic product line moving forward and create economies of scale through our partnership with Viaspace California, Inc.” Here is the full press release detailing VIASPACE’s acquisition of Elite Therapeutics:

VIASPACE, Inc. Press Release:

SANTA CRUZ, Calif., Feb. 11, 2019 /PRNewswire/ — VIASPACE, Inc. (OTC: VSPC) today announced that it now plans to complete the acquisition of luxury cosmetics company Elite Therapeutics (www.elitetherapeutics.com). VIASPACE had previously signed a nonbinding Letter of Intent (LOI) to acquire Elite Therapeutics. In May of 2015, the proposed acquisition was tabled to allow each company to focus on their respective core businesses. There are recent developments that now make this acquisition more compelling.

Elite Therapeutics was founded in 2007 as Bad Love Cosmetics Company, LLC and began doing business as Elite Therapeutics with high quality, results-driven, medical grade cosmetics in late 2010. Elite Therapeutics has a full line of luxury products for personal use and high-end hotel amenities. This past year, the company has developed a new, ultralux, hemp-derived “CBD Recovery Crème”. This product was launched on February 04, 2019 and can now be found on the Elite Therapeutics website. It uses a highly purified, hemp-derived, CBD isolate which is THC-free and is of the same high quality as the entire, physician-designed Elite Therapeutics product line.

On May 24, 2018, VIASPACE announced that VIASPACE and VIASPACE executives had established a special purpose company named “Viaspace California, Inc.” which is now proceeding with its plans to grow hemp in Southern California this year with business objectives to process the hemp for Cannabidiol (CBD) and other commercial uses, and selling or licensing name-brand hemp seeds. Elite Therapeutics would be a primary consumer of the Viaspace California, Inc., hemp-derived CBD.

VIASPACE Board Chairman and Acting CEO, Dr. Kevin Schewe, commented: “In December 2018, the U.S. farm bill took Hemp from a Schedule 1 controlled substance to an agricultural commodity. We are working to position VIASPACE to generate revenues from three lines of business including: top-line cosmetics and luxury CBD-containing cosmetics; hemp-related revenue including CBD oil and the sale of hemp seeds along with continued commercialization of Giant King Grass (GKG) for animal feed and renewable biomass/bioenergy. We are projecting that the acquisition of Elite Therapeutics will add more than $300,000 of revenue to VIASPACE in 2019 with plans to grow the luxury CBD cosmetic product line moving forward and create economies of scale through our partnership with Viaspace California, Inc. We remain committed to position VIASPACE to generate revenues and build shareholder value overall. We expect to finalize a VIASPACE all-stock acquisition of Elite Therapeutics within the next 30 days.”

About VIASPACE Inc.
VIASPACE grows renewable Giant King® Grass as a low-carbon fuel for clean electricity generation; for environmentally friendly energy pellets; and as a feedstock for bio-methane production and for green cellulosic biofuels, biochemicals and biomaterials. Giant King® Grass is a proprietary, high yield, dedicated biomass energy crop. Giant King® Grass when it is cut frequently at 4 to 5 feet tall is also excellent animal feed. The USDA granted approval for planting Giant King® Grass throughout the US and cooperates in exporting by performing the required inspections and issuing the phytosanitary certificate needed for import into foreign countries. Giant King® Grass is being grown in the US including Hawaii, and many foreign countries.  For more information, please go to www.VIASPACE.com or contact Dr. Jan Vandersande, Director of Communications, at 800-517-8050 or IR@VIASPACE.com.

Safe Harbor Statement
Information in this news release includes forward-looking statements. These forward-looking statements relate to future events or future performance and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from those expressed or implied by these forward-looking statements. Such factors include, without limitation, risks outlined in our periodic filings with the U.S. Securities and Exchange Commission, including Annual Report on Form 10-K for the year ended December 31, 2017, and other factors over which VIASPACE has little or no control.

Article By: Andrew Rego

Tags: acquisitionbeauty productsbiopharmaceuticalscannabisCBDCBD beauty productsCBD stockscommon stockconsumer goodsconsumerscosmeticsemerging growthhemphemp cosmeticshemp oilinvestinginvestmentmarijuana stocksmedicalmedical cannabismedical marijuanaMergermicrocap stocksMJMJ newsnewsotc marketspot stockspublic companysalessmall cap companiessmall cap stockssmall capsSpotlight GrowthSpotlight Growth Stocksstock marketstockstrading
  • Trending
  • Comments
  • Latest
Asure Software NASDAQ ASUR Human Capital Management HCM Industry Spotlight Growth

Asure Software (NASDAQ: ASUR) is Expanding to Meet the Rising Demand for Human Capital Management Software

September 27, 2022
OLB Group NASDAQ OLB Cuentas NASDAQ CUEN Partnership Fintech Spotlight Growth

OLB Group (NASDAQ: OLB) and Cuentas (NASDAQ: CUEN) Team Up to Bring Fintech Solutions to Over 32,000 Bodegas Across the United States

October 6, 2022
Siyata Mobile NASDAQ SYTA SYTAW SD7 VK7 Purchase Orders Spotlight Growth

New Purchase Orders for SD7 Rugged Device, VK7, and Other Accessories Boost Siyata Mobile’s Outlook (NASDAQ: SYTA)

December 14, 2021
Telcoin TEL Crypto Spotlight Growth

Telcoin (TEL) Quietly Leads a Crypto Remittance Revolution

June 15, 2021
Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

Cybersecurity Stocks Coming Into Focus Amid High-Profile Attacks

0
Safe-T SFET NASDAQ UN Presentation

Safe-T (NASDAQ: SFET) Has Been Selected to Present at the United Nations’ Office of Information and Communications Technology Event

0
Safe-T Group SFET Q4 FY 2020 Financial Results

Safe-T Group (NASDAQ: SFET) Reports Fourth Quarter and Full Year 2020 Financial Results

0
Safe-T Group NASDAQ SFET FY 2020 Prelim

Safe-T Group Ltd. (NASDAQ: SFET) Estimates Record-High Annual Revenues of Approximately $4.9 Million Representing ~50% Growth YoY 2020

0
Innovative Eyewear NASDAQ LUCY Lucyd Lyte 2 Smart Glasses Spotlight Growth

Innovative Eyewear (NASDAQ: LUCY) Debuts Lucyd Lyte 2.0 Audio Eyewear Product

February 7, 2023
American Resources Corporation NASDAQ AREC Reduced Debt By 9 Million Spotlight Growth

American Resources Corporation (NASDAQ: AREC) Reduces Debt by Over $9 Million

February 7, 2023
Its All Greek to Me What Are Option Greeks Spotlight Growth

It’s All Greek to Me: What Are Option Greeks and How Do They Impact Traders?

February 6, 2023
Unleashing the Power of 5G The Future of Mobile Technology Spotlight Growth

Unleashing the Power of 5G: The Future of Mobile Technology

February 6, 2023

Recent News

Innovative Eyewear NASDAQ LUCY Lucyd Lyte 2 Smart Glasses Spotlight Growth

Innovative Eyewear (NASDAQ: LUCY) Debuts Lucyd Lyte 2.0 Audio Eyewear Product

February 7, 2023
American Resources Corporation NASDAQ AREC Reduced Debt By 9 Million Spotlight Growth

American Resources Corporation (NASDAQ: AREC) Reduces Debt by Over $9 Million

February 7, 2023

Categories

  • Bio/Med/Pharma
  • Cannabis
  • Commodities
  • Consumer Goods
  • Crowdfunding
  • Crypto Cheat Sheets
  • Cryptocurrency
  • Earnings
  • Education
  • Entertainment
  • Financials
  • Market News
  • Opinion
  • Politics
  • Real Estate
  • Split Watch
  • Sponsored
  • Store
  • Technology
  • Uncategorized
  • Venture Capital/Private Equity (VC/PE)

Site Navigation

  • Disclosures
  • Terms Of Service
  • Privacy Policy
  • Contact Us

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

No Result
View All Result
  • Home
  • News
    • Bio/Med/Pharma
    • Cannabis
    • Commodities
    • Consumer Goods
    • Crowdfunding
    • Cryptocurrency
    • Crypto Cheat Sheets
    • Earnings
    • Entertainment
    • Financials
    • Market News
    • Opinion
    • Politics
    • Technology
    • Venture Capital/Private Equity (VC/PE)
  • Video
  • Stock and Crypto Screener

Copyright © 2017-2022 Spotlight Growth. All Right Reserved. Designed by Cool Cat Interactive.

Newsletter Signup

Subscribe to our weekly newsletter below and never miss the latest small/micro-cap analysis and investment news from Spotlight Growth.

Enter your email address

Thanks, I’m not interested