Players Network Files for Two Additional Medical Marijuana Licenses in North Las Vegas
Players Network’s Green Leaf Farms Holdings, Inc. Seeks Cultivation and Production Licenses for its Nevada Medical Marijuana Business Assets
LAS VEGAS, NV, (September 11, 2014) — Players Network (OTC-QB Bulletin Board: PNTV), a Digital Television, Technology and New Media company that develops, owns, and operates Branded Lifestyle Channel Destinations announces two additional applications for marijuana cultivation and production licenses in North Las Vegas, Nevada. PNTV previously announced on July 25, 2014 that they formed Green Leaf Farms Holdings, Inc. (“GLFH”) a private company to own legalized medical marijuana assets. As part of the business strategy, they applied for a dispensary license in the City of Las Vegas, and two North Las Vegas applications.
Players Network owns 80% of GLFH with the remaining 20% held by key experts, advisors and investors consisting of operators, growing experts, medical and health professionals and attorneys. The three licenses required a minimum liquid capital of $250,000 per license or $750,000. The first $1.0 million of capital for GLFH was successfully raised at a $10 million current valuation, providing PNTV with an $8.0 million interest in GLFH for their 80% ownership.
The Company intends to eventually combine the WeedTV media assets with the approved GLFH dispensary, cultivation and production business in a new entity, resulting in the convergence of a one of a kind destination with a digital media network whereby WeedTV will be the marketing engine for the physical brick and motor businesses.
Mark Bradley, CEO of Players Network stated, “We assembled an extremely experienced industry team to lead these business operations and assist with completing the applications. Given the quality of our team and operational plan I feel our chances of receiving one or more licenses is very good. The revenues associated with similar established businesses in Colorado and Washington are staggering. With the high number of tourist that come to Las Vegas with medical cards and Nevada’s reciprocity allowing use of medical cards from other states, Nevada’s revenues may exceed all expectations. The Company remains focused on media and developing and operating unique Channel Destinations, but is currently taking advantage of diversifying its holdings to our business synergistic to WeedTV and that would also allow for the opportunity to create program content and offer an enormous opportunity to add value to PNTV shareholders.”
Applicants have been informed that the State of Nevada will be making its decision on licensing based on a merit system in mid-November, 2014. Local jurisdictions will make their final determinations after the State issues their findings.
For Investor inquiries Contact(s): Parker Mitchell 702-575-9157 or:[email protected]
About Players Network:
Players Network is a Television and Digital New Media Company that uses its proprietary Enterprise Web Platform to develop numerous Branded Digital Lifestyle Networks for itself and its partners in a wide range of lifestyle categories. Players Network’s current original channels, “Players Network”, “Vegas on Demand”, “Real Vegas TV”, focus on Las Vegas and Gaming Lifestyles and WeedTV. They are distributed over PNTV’s owned and operated VOD Channels on TV in over 23,000,000 homes over Comcast, its Broadband Network and Mobile Platforms, on Hulu, Google, YouTube, Blinkx and Yahoo Video, on DVD, and through worldwide television syndication. For more information please visit www.playersnetwork.com
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this Release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to: the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to continue to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.