Year in Review & a Strong Hold on the Future

Live Opulent Inc. DBA Opulent Farms are proud to count you as a part of our community causing the growth and expansion of not only us, but this new and exciting industry.  We endeavor to keep all of our shareholders, friends and associates personally updated on developments within the Company. The expansion of our community and rapid growth we have been experiencing this year, means that sometimes this has not always been possible. This is a brief update below on what you have helped cause for us and our community. 

In order to streamline operations into a more manageable and simplified structure and prepare for our proposed listing on the Australian Securities Exchange (“ASX”) in 2020 we founded a new co. Botanic Wellness Limited, (“Botanic Wellness”) an Australian Limited. This new company/corporate entity has the required constitution and structure for the proposed listing on ASX. Following the establishment of Botanic Wellness, we entered into formal Share Sale and Purchase Agreements on 30 June 2019. Combining both Medical Marijuana Investment Fund Pty Ltd, an Australian entity and Live Opulent Inc, a US Company. Medical Marijuana Investment Fund Pty Ltd and Live Opulent Inc. have now been effectively converted into shares in Botanic Wellness.

We are moving forward with our IPO. The Board is currently considering a variety of factors to assess an appropriate IPO listing date and price, but at this stage, planning to raise AUD$4 million to AUD$6 million, giving it a deemed market capitalization on listing of between AUD$45-$47 million (including cash) and to commence the ASX listing process at the end of Q1 2020.

As of the end of 2019, The Company’s existing operations consist of:

1. A 9000 sq ft leased seed growing greenhouse facility outside Trinidad, Colorado

2. A 4000 sq ft leased seed growing greenhouse facility outside Wilcox, Arizona

3. A 96-acre joint venture property growing CBD hemp near Phoenix, Arizona which is expected to be harvested in the next 1-2 weeks

4. A 40-acre joint venture property (growing approx. 1.1 million CBD hemp plants) near Phoenix, Arizona. The harvest is expected to occur in mid to late January 2020.

5. A 300 acre (growing approx. 6.7 million CBD hemp plants) near Phoenix, Arizona. The harvest is expected to occur in mid to late January 2020.

6. A seed bank of approx. 2 imperial tons of hemp seeds for the growing of future crops. This should enable the planting of approximately 6,000 acres of CBD hemp crops.

7. A contracted farm in Southern NSW, Australia of 250 acres where licenses are being obtained to import industrial hemp seeds and to begin growing hemp in 2020 

It all started with the licenses. 

We spent considerable time and resources making the required applications and obtaining licenses to enable the Company to undertake its current and proposed future operations.

These include obtaining licenses and permits to facilitate the following:

1. To plant, cultivate, and harvest CBD hemp seeds and crops in Colorado and Arizona in the USA (Granted)

2. To import and grow industrial hemp in New South Wales and Victoria in Australia (Partially Granted Final Office of Drug Control “ODC” approval pending)

3. To import schedule 4, 8 and 9 CBD and THC products into Australia for prescribing under the Australian Medical Marijuana “Special Access Scheme” (Granted)

Additional legal work is currently being undertaken to secure all other licenses and permits that may be required by the Company in the future including obtaining an Australian medical cannabis cultivation, production and manufacturing license.

 2020 here we come!

Planned Future Operations

·      Live Opulent is planning to substantially expand its seed growing operations and the area being farmed in the USA and Australia to in excess of 2,500-3000 acres when it plants its second crops in 2020.

·      Live Opulent has also entered into a range of agreements with various companies to process its CBD hemp crops when harvested into crude, distillate and isolate that will enable it to maximize the return it receives for those crops on sale. The Company is in advanced discussions and has reached preliminary agreement with a number of buyers for its various products both within the USA and elsewhere.

·      We are currently outsourcing a majority of our crop processing requirements to third party processors but are working on creating our own in-house processing capabilities which will significantly improve our operational efficiencies and operating margins with future crops.

The year ahead looks particularly exciting as we continue to expand operations both in the USA and Australian and explore opportunities in Europe. We want to sincerely thank you for your continued support and positive feedback will keep you appraised of developments as and when they occur.

We wish you all a happy and healthy New Year and look forward to an extremely exciting year ahead.

About the Author: Donald (The Don) Gritten Jr., is a Chief Executive Officer CEO, Director, Veteran, tax professional, and business consultant. Passionate about personal development and business advancement, his background in financial services includes tax structure and defense, real estate, financial development, asset protection, Investor relations, and Global business development.

Donald "The Don" Gritten

opulentfarms.com

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