Anaheim, CA, June 09, 2022 (GLOBE NEWSWIRE) — LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically sun-grown cannabis products for medical and recreational adult-use in California is accelerating its efforts to develop Estrella Ranch in Paso Robles into California’s premier Cannabis destination.
“Cannabis vacations or Canna-cations are not just for Stoners anymore,” says Forbes magazine on May 27, 2002. We at Livewire agree with the Forbes article wholeheartedly. Therefore, we are carving a somewhat different path than most cannabis operators in California and continue to develop Estrella Ranch into more than just a successful cultivation operation. More than producing the best organic sun-grown cannabis in the Country, we go ‘beyond the weed’ and are also focused on building the ultimate cannabis destination for cannabis tourism in California to experience the world’s first Estate Grown Weedery™ at Estrella Ranch. When feasible, Estrella Ranch will invite visitors to learn about sun-grown cannabis and experience the living and breathing organic style operation firsthand in a beautiful and safe environment.
About Estrella Ranch Estate Grown Weedery ™
Estrella Ranch is a historic property in Paso Robles, the center of the world-renowned California wine country. Through its affiliate Estrella Ranch Partners, LLC., the Company has begun transforming this stunning property into the world’s first “Estate Grown Weedery,” developing it into a facility to cultivate high-end organic cannabis products. Estrella Ranch has a long-standing history, was once owned by the Prince of Morocco, and is considered among the finest Ranches in California and the gem of the California Central Coast. Estrella Ranch is located near Paso Robles and Santa Barbara, halfway between Los Angeles and San Francisco, and is surrounded by hundreds of world-renown wine yards. The Estrella Ranch location is the central hub for all Livewire operations.
The Cannabis Tourism Industry
While total cannabis sales in 2021 hit $72 Billion nationwide, the most sizable portion, 65%, is still illegal and the leading cause of why many legal operators are struggling. Legal operations have difficulty competing with illegitimate sales, especially in California, with taxes on legal sales as high as 40%. Out of the $25 Billion in legal cannabis sales in 2021, as much as $4.5 billion (about $14 per person in the US) was driven by tourists. According to Whitney Economics, these tourists pour another 12.6 billion into hotels, restaurants, other shops, and, most importantly, municipalities’ tax coffers.
More than two-thirds of Americans now support adult use, and as legalization spreads across the Country, pot use has become less stigmatized. According to a Harris Poll of May of this year, half of the millennials state that access to legal recreational cannabis plays a significant role in choosing their vacation destination. Nearly 18% of American leisure travelers are interested in traveling to destinations where cannabis is legal and can have a cannabis-related experience (MMGY Travel Intelligence). This number jumps to 62% for cannabis-consuming adults over twenty-one. According to the Cannabis Travel Association International, cannabis travelers are skewed toward millennials, with 59% with a college degree or 82% with a job and an average household income of $87,000.
Livewire recognized this trend several years ago. We have continued to implement a business plan that takes full advantage of this trend. This allows the Company to set itself apart from the competition and compete with more than just the largest number of pounds produced. Accordingly, the Company chose its perfectly suited location with its Estrella Ranch in Paso Robles, California, to develop into what we believe will be the premier cannabis destination in California. Not only are we developing the best sun-grown cannabis at this location, but we will also allow different social groups to visit and learn about and experience cannabis firsthand in a legal and safe environment, following our cultivation process from seed to flower. Don’t hesitate to contact Investor Relations if you want to schedule a tour.
The Estrella Ranch Concept
We consider the cannabis cultivated by Estrella River Farms a wellness product and a lifestyle grown under strict quality control guidelines, creating the possibility of an eventual alternative to several prescription medications. Some studies suggest that cannabis has been helpful for many ailments.
Estrella Ranch, majority-owned by Livewire, is now fully operational for its initial cultivation area. After two years of careful planning and development and intense environmental and legal inspections followed by complex compliance actions, it has become the poster child for the legal and environmentally responsible cultivation of high-quality organic and sun-grown cannabis products in California. Accordingly, the Livewire and Estrella team can now utilize the combined experience of its affiliates and subsidiary teams to build a unique network of valuable cannabis entities. As part of this network, we embark on the bigger plan to turn Estrella Ranch into THE cannabis destination in California, following the business model of the vineyards it is surrounded by and supported by our network of facilities throughout the Country.
Our goal is to acquire and manage additional and carefully selected facilities throughout the Country that are fully licensed, meet our exacting standards, can be easily integrated into our wellness network, and operated in the same spirit and passion that we demonstrate at Estrella Ranch and expect from all our operators. Our dedicated management team at Livewire and the cultivation teams at Estrella Farms and Makana Ola Farms are committed to producing the best cannabis in the State and generating maximum revenue for the Company.
About Makana Ola
The Makana Ola Farms is a 40-acre parcel with a 9,900 sqft cultivation area located in the heart of Humboldt County in Northern California with sufficient water and electricity facilities. Processing, including drying and curing, occurs within a 560-square-foot structure, with further trimming and packaging executed offsite at a licensed processing facility. Makana Ola is a guarded secret of proper marijuana horticulture quietly grown amongst the giant redwoods. Cannabis has been an integral part of the Humboldt culture for decades. Growing organic cannabis for a living is a local tradition practiced and handed down from generation to generation, with a clear focus on reducing environmental impact and generating the smallest carbon footprint possible
About LiveWire Ergogenics Inc. The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations to establish fully compliant and permitted facilities to produce cannabis-based products and establish relationships for the state-wide distribution of these products in California. This includes developing and licensing high-quality organic cannabinoid-based products and services and creating the “Estrella Grown Weedery™” brand via its affiliate companies Estrella Ranch Partners and Estrella River Farms. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to www.stockwatchindex.com/livewire-ergogenics.
Forward-Looking Statements This release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or the Company’s future performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company’s Social Media postings, and matters set in the Company’s SEC filings. These risks and uncertainties could cause the Company’s actual results to differ materially from those indicated in the forward-looking statements.
Source: Globenewswire