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ATLANTA, Aug. 01, 2018 (GLOBE NEWSWIRE) -- US Highland/CRUZANI (OTC:UHLN), a Business development company that builds and acquires franchise concepts, as well as other related businesses throughout the United States and International markets, has completed legalities to receive possession of key food manufacturing assets and intellectual property from Toronto’s Supreme Sweets bakery, as transacted in Q2 2018. A new US Highland/CRUZANI subsidiary, Oventa Foods www.OventaFoods.com, has already been created and put into place for implementation of new business operations that the transaction provides to UHLN. The completion of the asset acquisition is a powerful and positive development for US Highland/CRUZANI shareholders for two reasons: (1) The transaction provides UHLN with an immediate and substantial increase of net assets of approximately $8mm, that are accretive to the balance sheet. These will be reported formally in the Q2 2018 filings; and (2) The transaction also provides a physical manufacturing basis for UHLN to generate and report new sales revenue to shareholders going forward, by means of trend-setting artisan food production, with experienced management.
The portfolio of proprietary snack foods now owned by US Highland/CRUZANI’s Oventa Foods is enormous and diverse. With its substantial food processing equipment, and taking into account the size and nature of its plant, Oventa Foods aspires to move the needle on annual sales from its starting figure of approximately $1 Million per year to the $25 Million per year mark as soon as possible. This is the Phase I goal of its new business plan. US Highland/CRUZANI now has sufficient existing production capacity to achieve this goal. Its products serve a $100 Billion per year market in a food sector that is growing and seeking innovative variations of traditional products. This innovation is the expertise of Oventa’s award-winning management team, following the acceptance of the presidency of Oventa Foods by Mario Parravano, founder of Supreme. Mr. Parravano has a continuing stake in Oventa and has accepted the mandate to grow shareholder value for US Highland/CRUZANI stakeholders.
Mr. Parravano commented, “We have a company to build together. I can draw on past successes and industry experience at the plant level to lift US Highland/CRUZANI shareholder value. We have the combination of cool products, top-quality customers and a vast market sector to make a lot of money together. It will be fun because we satisfy people with delicious food products at the same time. It comes down to that. I’m very practical. I know that this is what we have to achieve. I am really looking forward to showing the team what my colleagues and I can do for US Highland/CRUZANI shareholders, now that we are partners.”
Oventa Foods will be located in the former operating premises of Supreme Sweets. The new company has a broader food industry mandate, compared with Supreme. This is why growth is expected. The new strategic plan leverages the intellectual property of proprietary formulations to expand offerings of sweet and savoury baked goods to more commercial clients than before and also to provide expertise and assistance for US Highland/CRUZANI’s contemplated food industryacquisitions. Premises renovations, plant layout adjustments and new certifications are planned for Oventa Foods’ Toronto location to prepare for its growth mandate. Supreme’s existing customer account base and the goodwill acquired from Supreme are included in the asset transfer, together with physical assets.
Adjustments to Oventa’s product offerings to emphasize high-speed products and/or high-value products can both double the $25 Million dollar value of its existing capacity.
Everett Dickson, US Highland/CRUZANI CEO comments, “We have a lot to be proud of. UHLN has not only attained the Current Information designation at OTC Markets, but is also fully reporting to SEC standards with audited financial statements. This sets US Highland/CRUZANI far above the usual standard of companies in our tier. Our next filings will show substantial new assets that considerably increase the book value of UHLN, immediately, so there is a large net accretive asset benefit to UHLN in this transaction. Furthermore, UHLN is now in a position to start reporting sales revenue commencing with filings for the Q3 operating period. These sales are of great consumable products to high-quality North American commercial accounts – plus we have experienced management. It’s rare that this combination of quality factors come together so efficiently. These developments are predictive of success. They demonstrate that we are ambitious for UHLN to achieve impressive progress – and it’s now happening. We are vastly undervalued presently, and this will become apparent in our filings.”
In March 2018, US Highland also announced that it had acquired 100% of a health-conscious, restaurant concept. The brand is headquartered in Atlanta, Georgia and is currently planning to expand across the Southeast. The chain will offer consumers a healthy, diverse menu made with fresh organic ingredients every day. The brand offers a diverse menu from flatbread sandwiches, bowls, wraps, salads, and fresh proteins such as chicken, turkey, steak and falafel. All entrees are also available in pre-packaged “meal plans,” for take-out.
About US Highland, Inc. (CRUZANI)
US Highland, Inc., is a franchise development company that builds and acquires popular franchise concepts, and other related businesses, throughout the United States as well as International markets, with an emphasis on food and wellness. Our management team selects up-and-coming concepts with substantial growth potential. We bring fresh innovative brands to consumers that have great potential. All of our brands are unique in nature by focusing on niche markets with untapped potential for development.
Safe Harbor Statement
This communication contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of US Highland, Inc., and members of its management, as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions.
The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
For more information please contact:
Everett M. Dickson, CEO
3500 Lennox Road
Atlanta, GA 30309