Agrro Manufacturing's El Rollo Update

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(TheNewswire)



TheNewswire - March 5th, 2020 - Camarico Investment Group Ltd. (CSE:CIG) (CNSX:CIG.CN)  ("Company") would like to provide the following update on behalf of Aggro Manufacturing Ltd and the El Rollo project. After months of testing Aggro has found the El Rollo machine to be proficient in function and deficient in economic impact in present market conditions.

The El Rollo machine was observed to be commercially feasible in operational function and cultivation performance with an observed potential performance enhancements in automation, functional design and serviceability.

The initial issue observed was the large demand for clones required to stock the machine and the direct costs of production, handing and physical loading of the materials into the El Rollo machine. These issues could be overcome with design changes to the racking system and integration within a conventional cultivation operation to act as a vegetative source of initial clone cuttings.

The second observation of the El Rollo machine is the limitations in strain utilization due to the physical growing restraints of the machine and its function. Further testing will be required to provide test data regarding the performance and traits of specific strains and potential mutations.

The final observation made by the company is the high capital cost of individual units and the new licensing restraints presented by Health Canada. Considering the current economic condition of the cannabis market and limited capitalization across the cannabis industry the El Rollo presently does not provide a direct cost benefit to start up or early stage producers carrying investment until licensing.

The El Rollo machine will be discontinued until market conditions present an optimal entry to market or the company is in a stronger financial position to utilize within its own development interests.

Contact Information

Mr. Anthony Chan

Email: [email protected]

Camarico Investment Group Ltd.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this press release.

Forward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company. Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information contained in this news release.

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