TULSA, OK / ACCESSWIRE / May 12, 2021 / Limitless Venture Group, Inc. (OTC PINK: LVGI), a publicly traded holding company that provides its shareholders access to investment opportunities in small and medium-sized businesses ideally positioned for rapid growth, announced today have resumed the search for acquisition opportunities for hemp and cannabis analysis laboratories after discussions with the laboratories in this space. After reviewing the latest research from Grandview Research, it is determined that the global cannabis testing services market size is valued at USD 1.1 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 15, 4% from 2020 to 2027..
In 2018, Farm Bill was introduced to legalize the cultivation of hemp in the United States and spawned a new booming industry. As a result, there is an incredible need for effective testing services in place to ensure the quality of cultivated cannabis. One of the main reasons for the need for quality testing laboratories is that when cannabis plants are cultivated, they are exposed to various contaminants, such as certain heavy metals from the soil, molds, pesticides and fungi. These contaminants can cause long-term respiratory problems as well as death when consumed in regular amounts.
Additionally, each state has its own quality controls for cannabinoids to ensure accurate labeling of recreational, medical, and CBD products. Additionally, activity testing helps keep consumers informed about the quality of the product as well as the CBD and THC content. In addition, the market for cannabis-based drug manufacturers is estimated to experience the fastest growing until 2027 due to large pharmaceutical companies such as Pfizer and Sanofi increasing their number of clinical trials on cannabis in due to the growing acceptance of medical marijuana.
Finally, at a press conference in early April 2021, Senate Majority Leader Chuck Schumer (D-NY) said he was working with Senate Finance Committee Chairman Ron Wyden (D-OR ) and Sen. Cory Booker (D-NJ) to draft a reform measure for a bill that will legalize marijuana federally and that he plans to bring this bill to his chamber prosecution “soon.” If federal cannabis legalization is passed, it could open up interstate commerce and generate huge demand for hemp and marijuana testing nationwide.
âWe are talking to different test labs to get a better understanding of the industry as well as how LVGI can be a beneficial partner for the right team. Many labs have entered this market quickly and one of the biggest complaints we’ve heard from growers and distillers is that many of these labs are slow to deliver results and the variations between samples are too wide to determine. accurately if the results are correct. As such, LVGI would like to work with a quality laboratory partner who has high integrity, has audible processes and standards, and who can deliver quality results within a reasonable timeframe. Additionally, we would like to work with a lab that has the capacity and desire to expand into multiple locations in the US and around the world. âStates Devon Diaz, PE, COO.
âWe are fully committed to our subsidiaries Rokin, KetoSports and Jasper. We are also closing our current opportunity in the TPA market and expanding into these markets as originally planned, âsays Joseph Francella, CEO,â however, when we find an opportunity with a great leadership team, a strong business model , significant revenues, profits and excellent growth opportunities in an expanding market, we must fully explore these opportunities for LVGI and our shareholders â.
About Limitless Venture Group, Inc.
Limitless Venture Group provides its shareholders with access to leading growth-oriented small and medium enterprises. Leveraging its permanent capital base, disciplined long-term approach and actionable expertise, LVGI holds majority stakes in its subsidiaries by partnering with management teams to create companies with the capacity to deliver value. significant for its shareholders.
For more information, please visit: www.lvginc.com.
The Company currently has three main subsidiaries: Jasper Benefit Solutions, LLC, Rokin, Inc. and KetoSports, Inc.
About Jasper Benefit Solutions, LLC
Jasper Benefit Solutions, LLC (JBS), founded in 2018 and headquartered just outside of Nashville, TN, is a general insurance insurer (MGU) specializing in risk management services for small and medium self-funded employers “groups”. MGUs, unlike general agents in the insurance industries, are certified to underwrite health and life insurance policies on behalf of their partner carriers. Jasper’s niche is the unique ability and authority of a well-known and nationally recognized insurer to underwrite groups as small as five (5) employees as well as to offer limited benefit insured products for individuals. groups with part-time employees who cannot participate in their health plans. www.jasperbenefitsolutions.com
About Rokin, Inc.
Rokin was founded in 2016 with a mission to provide our customers with the highest quality, technology-driven vaping products available while providing exceptional customer service. Rokin Vapes is rigorously tested by Rokin and several consumer focus groups to ensure products meet strict quality standards before production. Once a product is selected and production is complete, the product is certified to the latest FCC, CE standards (which are required for all vaping products), but Rokin goes above and beyond to certify our vaping products. according to the latest RoHS standard, which restricts the use of six hazardous materials commonly found in electronic products. www.rokinvapes.com
About KetoSports, Inc.
KetoSports products flush the body with ketones, increasing the levels of ketones in the blood within minutes. Because the body and brain use ketones as their preferred energy source and are primarily used for energy needs, KetoSports products are essential for anyone who wants to extend their energy stores for their sporting events or for those who simply wish to benefit from a stimulant without carbohydrates. –free mental energy and improved acuity.
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Disclaimer Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this press release that are not historical facts, including, without limitation, statements that relate to the expectations of the Company as regards the future impact on the results of the Company on new products in development can be considered as forward-looking statements. Words such as “expects”, “intention”, “plans”, “could”, “could”, “should”, “anticipate”, “likely”, “believes” and words of importance Similar also identify forward-looking statements. These statements are subject to risks and uncertainties. Forward-looking statements are based on current facts and analyzes and other information based on forecasts of future results, estimates of amounts not yet determined and management’s assumptions. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date of their publication. Except as required by applicable law, we assume no obligation to update any forward-looking statements to reflect any event or circumstance that may arise after the date of this release.
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