The business of complying with OTC along with the recent rule changes made the task of becoming Current more involved than originally anticipated. But thanks to a dedicated team of professionals, ILUS been restored to the Pink Current tier.
We are continuing our due diligence on several acquisitions. Here again, a process that unfortunately takes longer than most as cannabis operations require more due diligence and time. Each state has it's own unique legal and logistical requirements as well as the need for a complete understanding of the operation itself. Rest assured, the folks on our team are highly skilled and thorough.
Red Creek is very excited to have the interest and opportunity to secure funding to build our 100,000 sq. grow center in Southern Colorado. This is a project we're very excited about and look forward to providing a high quality product to Colorado's dispensaries, with many of whom relationships have already been established. Negotiations have begun to secure the real estate necessary to build out the grow center.
In closing we're exited over the news of the passage of HB19-1090, the Company can now move forward in completing its due diligence on its pending acquisitions and apply for operational licenses. This has provided opportunities we are perusing vigorously.
As always, we here at Red Creek appreciate your patience and support.
The Company has complied with all of the required financials, disclosure statements, opinion letters. Etc. in order to be considered for upgrading to the appropriate tier.
This is a great achievement for Red Creek. As this was a stock purchase transaction coupled with new rule changes that became effective on March 15th 2019, we ran into unexpected speed bumps and roadblocks resulting in painfully slow progress. Thanks to our wonderful advisors, professionals and our team, we have completed the process of providing all requested documentation and remain confident in our mission.
The next steps for the Company will be to change its name to Red Creek Diversified Holdings Corporation. Red Creek will be focused as a Diversified Consolidated company aligned with Global Strategic Partners and will structure the Company to benefit immediate and long-term stock appreciation.
Red Creek Diversified Holdings Corporations vision includes acquisitions of companies that have a proof and are capable of creating on-going revenues. Some of the selected opportunities spaces will be mainstream or emerging industries that Red Creek will introduce to the stake holders such as Cannabis Properties, Real Estate Underling Assets, Lease Backs on Equipment, Construction Products.
The Company’s intent is to rapidly transition into these industries as Red Creek’s immediate and long-term strategic plans.
Red Creek’s core values are to have a team of participants that always attempt to perform at the highest levels. The Company will align with an already existing team in place of various consultants and entrepreneurs that have combined decades of experience.
In closing, we’d like to extend our gratitude to our stockholders for their patience and continued support through this longer than expected process.
We continue to have our primary objective to be restoring ILUS to Pink Current. As I mentioned previously, the process entails providing mountains of forms and paperwork to the various entities that are involved in achieving that goal.
Our due diligence continues on a number of real estate projects, grow centers, and dispensary opportunities that are emerging in the market and look forward to providing more detailed and definitive information soon.
We appreciate your patience and look forward to providing our shareholders with not only healthy returns, but also the most accurate, current and available information. Stay tuned....more to follow this week.
On Jan 8,2019 Red Creek Reserve acquired controlling interest in ILUS. The management group of Red Creek Reserve, LLC was formed in July of 2016 specifically to address the emerging Cannabis Industry. Led by Larson Elmore and other investors, control of ILUS the company, has been completed. Information regarding our company’s direction can be found on our company website redcreekreserve.com.
The scope and purpose of the business is to serve as a public real estate development holding company. The completion of the transaction described above has set the stage for acquisitions and controlling interests or procurement in various potential entities which own and/or control certain assets in the Cannabis Industry.
Management believes the time has come for investors to be better served with a holding company that can consolidate cash producing companies in the thriving Cannabis Industry. Our industry has clearly evolved from a fragmented cottage industry to one where businesses will be better served by being part of a larger publicly traded entiey; and we believe doing so will build significant stock holder appreciation.
Furthermore, Colorado has legislation pending that opens the door for out-of-state investors and publicly traded companies to wade into Colorado’s Cannabis Industry. It is believed that the bill will run into little to no resistance in its path to being law. We fully intend to capitalize on that opportunity and are positioning ourselves to do so.
In other matters, it is the intent of management to submit a name change request to the Nevada Secretary of State’s office (NVSOS) culminating in a name change from Cache Elite to Red Creek Reserve Diversified Holdings Corporation. This will better describe our business model and provide clarity for marketing purposes. An associated ticker symbol change will also be submitted to the NVSOS in the near future.
Red Creek began working on acquisitions even before pursuing control of ILUS. However, we are under a Non-Disclosure Agreements, pursuant to those negotiations, and are unable to provide any further detail at this time regarding them. We will make those details available as the acquisitions move along to completion.
The Management team at Red Creek appreciates your patience and support and we look forward to sharing a very bright future with you.