ST. PETERSBURG, Fla., March 6, 2018 (Newswire.com) – Today, Leone Asset Management (PINK SHEETS: LEON) announces their subsidiary Farmica Africa has commenced its initial plans to begin lemongrass production in Sierra Leone.
James Price, CEO of Leone Asset Management, stated, “We are extremely excited to announce we are preparing to break ground and commence operations within Farmica Africa and our lemongrass production. The company had acquired a 12,OOO-acre lemongrass seed bank and formed a joint venture with Songo Lemon Grass Group back in 2013 to cultivate and produce lemongrass oil and other bi-products. Due to the previous Ebola crisis in 2014, the project was put on hold.”
Price added, “The lemongrass market is estimated at $75 billion dollars annually and has several beneficial health uses. Lemongrass is a plant and the leaves and oil are used to make medicine. Lemongrass is used for treating digestive tract spasms, stomachaches, high blood pressure, convulsions, pain, fever, cough the common cold and many other issues. By inhalation, the essential oil of lemongrass is used as aromatherapy for muscle pain. In food and beverages, lemongrass is used as flavoring.
“We believe this project will introduce a tremendous asset to the company and will contribute substantial cash flow to the company which will greatly enhance shareholder value.”
About Leone Asset Management
Leone Asset Management Inc. is a multi-national conglomerate with subsidiary companies that operate in health and wellness, supplement manufacturing and distribution and agriculture management. For additional information, visit www.leoneasset.com.
About Farmica Africa
Farmica Africa is a Leone Asset Management wholly owned subsidiary that operates a lemongrass agricultural project in Sierra Leone. www.farmicaafrica.com
Forward-Looking Statements Disclosure:
This press release may contain “forward-looking statements” within the meaning of the federal securities laws. In this context, forward-looking statements may address the Company’s expected future business and financial performance, and often contain words such as “anticipates,” “believes,” “estimates,” “expects,” “intends,” ” plans,” “seeks,” “will,” and other terms with similar meaning. These forward-looking statements by their nature address matters that are, to different degrees, uncertain. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can provide no assurances that these assumptions will prove to be correct, All forward-looking statements in this press release are expressly qualified by such cautionary statements, risk, and uncertainties, and by reference to the underlying assumptions.
Leone Asset Management Inc.