Santo Mining Corp. (OTC Pink: SANP), dba PODWERKS, is engaged within the co-working space for cannabis entrepreneurs. Shares of the cannabis company are down 33.33%, through early trading on Monday, July 3, 2017. Over the past month, Santo Mining Corp. saw average daily volume of 86.6 million shares. However, volume of 164.78 million shares or dollar volume of $32,956, has already exchanged hands on the day.
Shares of Santo Mining Corp. are declining today, after the company announced it has entered into talks with China’s top industrial hemp company, Yunnan Industrial Hemp, Inc., in order to discuss a possible joint venture. PODWERKS seeks to develop a joint venture to sell industrial hemp products to the United States. Here is the full press release detailing of the possible joint venture talks:
Santo Mining Corp. (PODWERKS) Press Release:
KUNMING, CHINA July 3, 2017 — Santo Mining Corp. dba PODWERKS (the “Company”), (OTCBB:SANP) a pioneering and first-of-its-kind cannabis coworking space and ecosystem for cannabis entrepreneurs in the U.S., has entered into talks with Chinas only government authorized and leading industrial hemp company, Yunnan Industrial Hemp Inc.; to discuss exclusive joint venture projects for the United States.
Currently on a 10-day trade mission to Chinas southwestern Yunnan Province at the invitation of Yunnan Industrial Hemp, Podwerks co-founders Frank Yglesias and Matt Arnett have been meeting with high level executives and touring the facilities to get a first hand look at the array of hemp and cannabidiol (CDB) products being produced in China.
The long-awaited trip and meeting between PODWERKS and the Yunnan Industrial Hemp, underscores the importance of American firms partnering up with foreign-based companies at the forefront of research and technological development of hemp/cannabis byproducts. We look at a country like China where no one would expect a big hemp industry, but the fact of the matter is China is quickly outpacing the U.S. in hemp related R&D and patents. says Podwerks Co-Founder and CEO, Frank Yglesias. This trip to Yunnan has really been an amazing opportunity to sit down with the Chinese and discuss a framework on how we can together provide more affordable CBD healing and hemp products to patients and consumers in America. added Yglesias.
The popularity of CBD products has been on the rise in western countries thanks to the many miracle healing testimonials highlighting its medical benefits against various illnesses such as chronic pain and the more serious ones like epilepsy, a neurological disorder. As more and more states in the U.S. pass legislation to legalize medical marijuana, CBD sales are expected to skyrocket, and by 2020 reach an estimated $2.1 billion in sales.
Were are honored to have a leading American company visit us in China to discuss ways of cooperation in bringing our unique CBD patented products to western markets. Here in China, we hear so much how CBD is making positive contributions to peoples daily lives, particularly in America. We believe together with PODWERKS we can help bring new CBD products at an affordable price to the average citizen. We look forward to a long-term work commitment with PODWERKS, summed Mr. Andy Suo, General Manager of Yunnan Industrial Hemp, Inc.
Forming a strategic alliance between Yunnan Industrial Hemp and PODWERKS will provide both companies a competitive edge in the global hemp and CBD marketplace. PODWERKS will benefit greatly from the only organic hemp farm in China, an area of more than two kilometers of planted certified organic hemp with a capacity to produce more than a ton of CBD oil, while Yunnan Industrial Hemp will gain access to new international markets.
Today is a good day in U.S.- China Hemp relations, added Matt Arnett, Podwerks Co-Founder and Chief Community Officer, also taking part in the trade mission. We have some big things planned in the coming months back home and here in China with Yunnan Industrial Hemp. We realize we cant do it alone, so we look forward to getting other businesses and auxiliary partners in our PODWERKS ecosystem involved, emphasized Arnett.
PODWERKS, a recent entrant to the cannabis space, has already been featured in leading cannabis, technology and coworking trade publications such as Leafly, Tech.Co and All Work; for its unique community driven workspace and continued efforts in positioning young entrepreneurs and start-ups at the forefront of cannabis innovation.
About Yunnan Industrial Hemp Inc. (www.cnhemp.com)
Yunnan Industrial Hemp Inc. (founded in 2001), a wholly-owned subsidiary of Yunnan Hanpu Health Products Co., Ltd., is currently Chinas only government authorized institution that can plant, process and deal in industrial hemp products in a large scale and is Chinas first enterprise exclusively engaged in the development of industrial hemp. They specialize in the development, research, breeding, planting, industrialized production and marketing of industrial hemp.
About Santo Mining Corp. (PODWERKS)
PODWERKS is a co-working space for cannabis entrepreneurs in the United States, providing the necessary framework to grow, market, and sell all cannabis related products. Our aim is to create a sustainable and community driven workspace by providing an affordable, scalable and a safe business environment for our tenants. All Podwerks spaces will feature three types of pods:
1-Growing pods o Nursery, Production and Drying
2-Office Space pods o Desk space, Wi-Fi, printers, copy machines, meeting rooms
3-Retail Space pods o Coffee Shop, Hardware Supply Shop, Co-op Shop
PODWERKS spaces will be located in urban designated zones permitting the commercial cultivation, and sales of cannabis related products. Each site will have an average of ten modified steel shipping container pods with an onsite manager overseeing day-to-day operations. Working with local and state agencies, Podwerks container pods will comply with all building code requirements to ensure the safety of our tenants. Community is an essential part to Podwerks mission of Grow for Life. PODWERKS tenants can benefit from a series of social and professional events designed to foster collaboration and create a strong and expansive community. Some of these events will include speaker series, investor panels and local governments outreach, among others.
PODWERKS is a division of Santo Mining Corp., a publically traded company in the Over-the-Counter (OTC) market. It currently trades under the ticker symbol SANP.
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company’s future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues or results of operations.