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SOURCE Verde Media Group Inc.
LOS ANGELES, Feb. 20, 2014 /PRNewswire/ -- Verde Media Group Inc. (OTC: VMGI), an innovative media company, is pleased to announce that the legal marijuana market in Colorado as tracked by taxable receipts is exceeding current predictions validating the companies' business plans.
As reported by Kristen Wyatt of the Associated Press Colorado's legal marijuana market is far exceeding tax expectations, according to a budget proposal released Wednesday by Gov. John Hickenlooper that gives the first official estimate of how much the state expects to make from pot taxes.
The governor predicted sales and excise taxes next fiscal year would produce some $98 million, well above a $70 million annual estimate given to voters when they approved the pot taxes last year. The governor also includes taxes from medical pot, which are subject only to the statewide 2.9 percent sales tax.
William Veve, President of Verde Media Group, Inc. stated, "These numbers validate our decision to quickly expand our business in Denver. The growth rate of this industry will continue to exceed expectations and the innovative companies that properly service this industry will prosper. We are in current negotiations with our first large transaction in the industry and very excited with the structure and revenues that it will generate for Verde."
For the full article please visit - (http://www.denverpost.com/marijuana/ci_25180402/colorado-governor-reveals-pot-tax-spending-plan)
About Verde Media Group Inc.
Verde Media Group Inc. is a publicly traded company listed on the OTC Markets trading under the stock symbol: VMGI. It operates a managed media financing company with production, distribution, and development functions for film and television. The company also incorporates an Agency division managing multi-media, public relations and marketing functions for corporate clientele. For more information, visit www.verdemediagroup.com, or connect with the company on Facebook.
The results described herein cannot be guaranteed. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Statements in this news release other than statements of historical fact are "forward-looking statements" that are based on current expectations and assumptions.
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