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LAS VEGAS, Aug. 07, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- International Endeavors Corporation (OTC: IDVV) announces, as according to Forbes, that during July 2018, for the first time, the Canadian government made almost all of the Canadian Agricultural Partnership’s funding programs available to the cannabis industry. This Partnership is a five-year program with CA$3 billion in the investment funds. It was launched in April 2018 to strengthen the agricultural sector that now includes cannabis cultivation. In Canada, the federal, provincial, and territorial governments, all work together through the Canadian Agricultural Partnership.
Andrew Read from International Endeavors Corp. says, “This is an exciting development that is likely to create explosive growth in the agricultural infrastructure for the cannabis industry in Canada. International Endeavors Corp. immediately recognized the tremendous opportunity offered for the cannabis industry by these Canadian agricultural programs, which will help support the ongoing international expansion of our company.”
International Endeavors Corp. (OTC stock symbol: IDVV) is now applying for very favorable matching funds from the Canadian Agricultural Partnership under the Agri-Innovate Program. These Canadian government contributions are long-term and interest-free.
International Endeavors Corp manufactures the Off-Grid Grow Lab (OGGL) and wants to deploy Canadian OGGLs all over Canada in response to the strong emerging growth of national marijuana production. The OGGL design is standardized and operates in sustainable ways without the need for power-grid connections. The OGGL is perfect for Canada because it can be located almost anywhere that gets sunshine; even in places with challenging temperature extremes and harsh climates.
Director of Marketing for International Endeavors Corp., William Vinson, says “Through our Canadian subsidiary, we are advancing rapidly to support the Canadian cannabis market in light of the upcoming Oct. 18, 2018, formal legalization of adult-use recreational marijuana. The recent authorization by the Canadian government of significant funding on excellent terms for the cannabis industry is the perfect fit for financing the major production plans for the OGGL.”
The Canadian OGGL is a grow lab for marijuana that is specifically designed to be manufactured in Canada. The market disruption strategy, envisioned by International Endeavors Corp., is to get nationwide approval for the OGGLs. A master approval process will be executed by the company simultaneously at all the Canadian-government levels including compliance under all federal regulations, provincial requirements, and territorial laws. With nationwide approval, the OGGLs can then be used for cannabis cultivation anywhere in Canada, making it significantly easier to enter into the marijuana cultivation business produce product quickly, and generate substantial profits when meeting the expected high demand for cannabis.
Under the Agri-Innovate program, the Canadian government contributes 50% of the funding for a project. The maximum project size is CA$20 million with the Canadian government contributing half of this amount. The project must be completed by 2023. There is no interest on the Canadian government funds. Payback starts one year after the project completion, with equal annual payments over the following five years.
The Canadian Agricultural Partnership focuses on these priority areas, which the Canadian OGGL project will accomplish in a spectacular way:
The availability of funds through the Agri-Innovate program creates the opportunity for International Endeavors Corp. to achieve widespread national distribution of the OGGLs with the backing of Canadian-government financing. After the Canadian design of the OGGL is approved, it can be sold all over the country without the need for further complicated approvals to marijuana cultivators. As a standardized unit that is cost-efficient, the OGGL incorporates advanced engineering that addresses all the Canadian priorities. This will dramatically shorten the time for cultivation/sale license approval when compared to the time needed to approve construction of the various other types of growing facilities, which are not standardized.
About the OGGL: The OGGL is the first purpose-built, self-contained, off-grid growing laboratory. Built in a custom-designed shipping container, the OGGL has integrated solar modules and lithium-phosphate batteries coupled with a generator backup to supply uninterrupted power to the grow room.
OGGLs that meet national Canadian standards, as well as provincial regulations, will be more easily deployed than any alternative cultivation solutions. They can be delivered quickly and put into operation the next day after arrival without the need for individual OGGL approvals. The OGGL provides a structurally-sound solution for cannabis cultivation. It has a controlled environment that produces a consistent quality product to meet exacting standards.
About International Endeavors Corporation (OTC stock symbol: IDVV)
International Endeavors Corporation is now operating out of its headquarters in Las Vegas, NV serving the United States. The company continues to expand its planning, financing, production, and marketing efforts for the OGGL in Canada. The company focuses on building patented technology that supports the rapid deployment of agricultural infrastructure and the equipment needed for the medical marijuana and legal cannabis industry.
Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. International Endeavors Corporation (IDVV) is under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events, or otherwise.
William Vinson, Marketing Director
Nate Engel, CEO