SOUTHFIELD, MI -- (Marketwired) -- 10/23/14 -- Halberd Corporation (PINKSHEETS: HALB) announces a definitive agreement with Gear International of Washington, Inc. The contract is part of a financing transaction for fixed payments from two different licensed medicinal marijuana farming operations. The properties involved are located in Michigan and Canada. These farms are currently operating and with Halberd's financing will be able to expand to be able to produce at a higher rate. The financing will be done in part through the issuance of shares of Halberd Corporation and other participants. The combined annual payments for both properties will be in excess of 3 million dollars annually. Revenue streams from this operation will commence in approximately 6-8 months. The 3 million dollars annually will continue indefinitely. This will give Halberd Corporation the cash flow to expand all of their operations even further. In addition, Halberd Corporation will receive shares from the four other participating companies at a market value in excess of 1 million dollars.
John Maddox, CEO of Halberd Corporation states, "This agreement shows the ability of Halberd to continue its growth as a diverse holding company. We continue to look for opportunities that will give our shareholders tremendous value. This transaction illustrates the abilities of our management team to look at the present and future and to create opportunities for Halberd Corporation's success."
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words or phrases "would be," "would allow," "intends to," "will likely result," "are expected to," "will continue," "anticipate," "expect," "estimate," "project," "indicate," "could," "potentially," "should," "believe," "considers," or similar expressions are intend to identify "forward- looking statements." Actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These include the company's historic lack of profitability, end user customer acceptance and actual demand, which may differ significantly from expectations, the need for the company to manage its growth, the need to raise funds for operations and other risks within the regulation of the industry. Statements made herein are as of the date of the press release and should not be relied upon as of any subsequent date. The Company's past performance is not necessarily indicative of its future performance. The Company does not undertake, and the Company specifically disclaims any obligations, to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
John C Maddox