LiveWire Ergogenics Reports 2020 Financial Performance

Anaheim, CA, March 30, 2021 (GLOBE NEWSWIRE) -- March 30, 2021 - LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring and managing special purpose real estate properties and the associated operation permits conducive to the production of high-quality, handcrafted and organically grown cannabis products for medical and recreational adult-use in California, announced today its financial results for 2020. The Company generated $580,315 in revenue for the year, an increase of 68% over 2019 and has reduced its net loss by 5%, compared to 2019.

Bill Hodson, CEO of LiveWire Ergogenics states, “2020 has been an exciting year for our company. Going through a complex and time-consuming permit application process, we are now in the final phase of this process and close to finalizing all required buildouts and improvements of our Estate Grown Weedery development at our Estrella Ranch in Paso Robles, California. This will bring the facility in compliance with all rules and regulations to operate as a cannabis cultivation facility. To date, LiveWire has successfully navigated the maze of paperwork and regulations with multiple Local and State agencies to be approved as a fully permitted cannabis cultivation operation on one of the most beautiful and historic ranches in the country. The result will be a family style farm, supported by a microclimate perfect for growing absolute exceptional organic and handcrafted-style cannabis.”

Mr. Hodson continues, “To be prepared for the immediate start of cultivation, we have entered an agreement with a well-established and experienced cultivator, QDG Agriculture, with an extensive track record of producing the highest quality organically grown cannabis in California. We believe that the milestones we have completed during 2020, put us in position to begin cultivation in our Weedery as soon as we have completed this last phase in the application process, the final approval of the license for our affiliate company Estrella River Farms by the CalCannabis Cultivation Licensing department, which we believe to be imminent. While preparing for the start of cultivation, we continue to generate a modest revenue stream to cover general expenses and maintain disciplined cash stewardship.”