SAN DIEGO--(BUSINESS WIRE)--Mentor Capital, Inc. (OTCQB: MNTR) returned from Puerto Rico where it investigated first-hand the impact of the territory’s new medical marijuana legalization decree with industry and political participants and with its investee Green Vision Systems Corp. “Puerto Rico, with a population of 3.6 million, projects to have a $300 million total cannabis market by the end of 2019,” analyzes Mentor Capital CEO Chet Billingsley. “That cannabis market, which may also evolve to include recreational use, should then bring $45 million in taxes and $36 million in profits to the island. Overall, 15,000 marijuana related jobs will be created reducing the overall unemployment rate there from 15% to 13.5%.” Mentor estimates that because there are only a very limited number of major licenses to be granted, potentially first to market Green Vision Systems Corp. should target capturing 20% of this evolving regulated cannabis market for the legal cultivation, manufacturing and transportation of medical cannabis products in Puerto Rico, plus associated hemp farming.
Looking forward, Mentor CEO Chet Billingsley comments, “We work to increase the value of our 500,000 share investment in Green Vision Systems by our consulting efforts and the opportunity for future investment in the Puerto Rico cannabis market through Green Vision. After extensive meetings with the executive team, plus on the ground analysis in Puerto Rico, Mentor has concluded that the company can further increase the investment value received by its 4,000 shareholders by making a special pro rata dividend of Green Vision shares, upon notice by Green Vision of the effectiveness of a registration statement with the SEC, of the Green Vision shares Mentor receives.” Mentor Capital indicates that it will declare an ex-dividend date as the specific schedule for the effectiveness of a registration statement becomes certain.
About Mentor Capital: The Company seeks to come alongside and assist private medical marijuana and cannabis companies and their founders in meeting their liquidity and financial objectives, to add protection for investors and to help incubate private cannabis companies. Additional important information for investors is presented at: www.MentorCapital.com.
This press release is neither an offer to sell, nor a solicitation of offers to purchase, securities.
Forward-Looking Statements: This press release contains forward-looking statements within the meaning of the federal securities laws, including statements concerning financial projections, financing activities, corporate combinations, product development activities and sales and licensing activities. Such forward-looking statements are not guarantees of future results or performance, are sometimes identified by words of condition such as “should,” “could,” “expects,” “may,” “intends,” “seeks,” “looks,” “moves,” or “plans” and are subject to a number of risks and uncertainties, known and unknown, that could cause actual results to differ materially from those intended or anticipated. Such risks include, without limitation: nonperformance of investments, partner and portfolio difficulties, potential delays in marketing and sales, problems securing the necessary financing to continue operations, problems involving continued illegality of cannabis products, potential of competitive products, services, and technologies, difficulties experienced in product development, in recruiting knowledgeable personnel and in protecting intellectual property. Further information concerning these and other risks is included in the Company’s 10K and 10Q filings which, along with other very important information about the Company, can be found at the SEC website and here: http://mentorcapital.com/disclosures/. The Company undertakes no obligation to update or revise such forward-looking statements to reflect new information, events or circumstances occurring after the date of this press release.