FMYR announces change of directions by acquiring cannabis operations
Family Room Entertainment Corp. (OTCMKTS:FMYR)
LAKE FOREST, CALIFORNIA, USA, January 19, 2021 /EINPresswire.com/ — Family Room Entertainment Corp. (the “Company’) makes it official and announces that it has changed directions. Executive management has focused the past two years acquiring strategic company assets and personnel to best enter a new market. Family Room Entertainment Corp. is proud to unveil our plans to redirect Family Room into the cannabis and hemp markets. The Company is also working on more new developments for 2021.
Medical and Recreational Cannabis and Hemp are dominating new market spaces in the United States. The 2019 US Farm Bill legalizing Hemp trade in the United States, and trends leading toward national legalization of Cannabis, expose a void of supply chains in blooming cannabis and hemp markets. The legal cannabis and hemp industries have shown the greatest potential for growth in current US markets.
The Company in the Summer of 2018, appointed Mark Cheung as its CEO. Mark was tasked by the board to secure assets and experts in the California cannabis industry to add to the Family Room umbrella.
Effective October 1, 2018, the Company acquired a major California Central Valley industry retailer, Sweet Leaf Hydroponics, through the Company’s acquisition of Safestarr Inc.
Sweet Leaf Hydroponics has been supplying cannabis and hemp industry supplies, “picks and shovels”, installation and consultation services to cannabis cultivators, hemp cultivators, and extractors in the Central Valley of Northern California for the past 10 years. Such a retail hydroponics location grants the Company direct access to the cannabis industry supply chain (“picks and shovels”) and longstanding legacy cultivators.
“We are very excited to officially announce the launch of operations in the cannabis and hemp sector,” said Mark Cheung, the Company’s CEO. “We believe that positioning the Company in the very relevant cannabis sector will immediately enhance growth potentials and provide value to our company.”
About Family Room Entertainment Corp.
With its headquarter office located in Lake Forest, California, and founded in 1969 originally as Cobb Resources, Family Room Entertainment Corp. (the “Company”) has focused its business operations in the cannabis sector with its acquisition of Safestarr Inc., a California corporation, which operates under the trade name of Sweet Leaf Hydroponics. Through the acquired operations, the Company markets and sells equipment for cultivators, extraction products, topsoil, and other various “picks and shovels” equipment necessary for cannabis and hemp operations. The Safestarr subsidiary has an active social media presence at its own website (http://www.slhydro.com/) and on Facebook (https://www.facebook.com/SweetLeafHydro/) and Instagram (@sweet_leaf_hydro).
Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's affiliates that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.
Family Room Entertainment Corp.
Family Room Entertainment Corp.
Source: EIN Presswire