Lake Victoria Mining Company Announces Change in Control and Corporate Repurposing

LOS ANGELES, CA, Jan. 22, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE – Grapefruit Boulevard Investments, Inc. (“GBI”), a California corporation formed in 2017, based in Westwood, Los Angeles, CA, acquired a controlling interest in Lake Victoria Mining Company (OTC PINK: LVCA) on December 3, 2018. As a result, LVCA has terminated its Tanzania mining enterprise. GBI is a California licensed and fully compliant cannabis manufacturer and distributor with facilities located in the Coachillin’ Industrial Cultivation and Ancillary Canna-Business Park in the City of Desert Hot Springs, California. GBI obtained its California licenses to manufacture and distribute Cannabis products in January of 2018 and commenced distribution of such products in June of 2018. The Company is in the process of building out its facilities to allow it to become a seed to sale vertically integrated fully compliant Cannabis and CBD product company.

GBI’s President, Bradley J. Yourist, a member of the State Bar of California, now the CEO and a director of LVCA, stated, “We are pleased to have taken a controlling interest in LVCA and look forward to utilizing it as the publicly traded corporate vehicle through which we will grow our enterprise and concomitantly enhance shareholder value.  We are currently in the process of evaluating potential investments by non-affiliate investors seeking exposure to the legally compliant cannabis industry and will announce a final financing and capitalization plan for LVCA as soon one is chosen by LVCA’s management and its advisors.”           

Safe Harbor Statement

LVCA cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in the LVCA business, including, without limitation: the Federal government could limit the company’s ability to distribute its products; the company may not be able to secure the funds necessary to support its product development plans; and the company may not ever achieve the market success to sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger cannabis companies, technological obsolescence, unexpected costs and delays, potential product liability claims, and many other factors. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and LVCA undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof.  This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.