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.
My sincerest wish is that I had the power to expedite past, current and future regulatory issues. Delays with accountants, lawyers, NVSOS, OTC Markets and more have been frustrating. Despite the hurdles we are making progress. There has been a changing of the guard at the OTC and the “yield” sign removal is believed to be eminent.
The Management team at Red Creek appreciates your patience and support and we look forward to sharing a very bright future with you.