LAS VEGAS, Feb. 10, 2020 (GLOBE NEWSWIRE) -- Barrel Energy Inc., (OTC Markets: BRLL) (the “Company” or “Barrel”) is pleased to present our corporate update and new strategic plan for 2020.
Barrel has adopted and begun execution on a new strategy to create a publicly traded merchant banking model with the objective of providing superior capital appreciation through investments in high growth industries that will benefit from the addition of capital provided on rational and reasonable terms, the streamlining of business operations applied by industry experts and the broadening of marketing and development opportunities through our array of business relationships.
The Company is pleased to announce the following completed initiatives:
- In May 2019, Barrel entered into a Lease with Crocker Acana, LLC for 602 acres of land in Tehama County, California with the intent to cultivate hemp on the property. It is expected that Tehama County will approve Hemp farming for 2020. Our plan includes securing the capital investment and developing the strategic partnerships necessary to convert the Tehama property into an integrated Hemp industry hub for cultivation, processing, product and production research and marketing and branding.
- The Company has currently targeted acquisitions in three key areas of the rapidly expanding multi-billion dollar Hemp and CBD industry-- propagation, extraction and manufacturing. The targeted companies possess licensed operating farms and farming partners in California, Colorado, Oklahoma, South Carolina and Tennessee.
- The Company has executed a LOI to acquire ZB Holdings, Inc, (www.zoombang.com) and is engaged with the principals of ZB Holdings to complete the transaction. ZB Holdings is the manufacturer of the incredible Zoombang protective apparel line. Zoombang boasts a unique polymer technology providing state-of-the-art sports, military, law enforcement and industrial safety protection. Zoombang’s high-quality gear is currently being used by professional athletes within the NFL, NBA, NHL, CFL, the X Games, AMA Motocross and Major League Soccer and together with Barrel are mapping out new applications, markets and channel partners for the products.
Chairman Harp Sangha said, “Simply stated, our strategic plan is to acquire interests in early stage, high growth businesses, and provide them financing, strategic and tactical guidance, and access to new markets and channels to assist them in realizing their optimal potential. We see this as the best way to rapidly expand our Company and produce the highest return for our Shareholders.”
In addition to the previously-mentioned ventures, the Company is currently in discussions with several groups in the technology and a large scale gold asset currently in production.
About Barrel: Barrel Energy Inc. (OTC Markets: BRLL) is a diversified holding company whose strategy is to acquire interests in a range of profitable ventures in the Energy, Agriculture and Consumer products manufacturing and marketing.
www.barrelenergyinc.com
| Contacts: | |
| Louis Silver | |
| Director Of Corporate Communications and Investor Relations | |
| lsilver35@verizon.net | 610-710-1303 |
| Harp Sangha-Chairman | |
| harp@barrelenergyinc.com | +1-702-595-2247 |
Company Disclaimers: As a "penny stock" Company, within the meaning of federal and state securities law, Barrel Energy Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, Barrel Energy, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.