DORAL, Florida, June 03, 2020 (GLOBE NEWSWIRE) -- Earth Science Tech Inc. (OTCQB: ETST) (“ETST” or the “Company”), an innovative biotech company focused on the cannabidiol (CBD), nutraceutical and pharmaceutical fields, medical devices, and research and development, today announces the Company’s Receiver has closed the claims period and has entered the reorganization (“Reorg”) phase after successfully canceling 18,000,000 Common and 5,200,000 Preferred shares.
Closing the claims period is one of the final stages within receivership leading to the Reorg phase where the Company is strategically partnered with synergistic companies to increase ETST’s assets and diversify revenue. The Company plans to update its shareholders on the remaining receivership period as it slates dismissal with the Company in a stronger and better position prior to receivership.
ETST’s CEO, President, Director, and Chairman Nickolas S. Tabraue stated, “We look to be nearing the end of Receivership and have had many positive achievements through the Receiver; canceling a substantial portion of company shares, properly dealing with the ongoing legal matter in the shareholders best interest, and now assisting in properly structuring partnerships and potential acquisitions to diversify ETST from CBD to increase overall company value and revenue. We look to be out of receivership in the best position that the Company has been operating and progress strong.”
About Earth Science Tech Inc. (ETST)
Earth Science Tech, Inc. (“ETST”) offers the highest purity and quality high-grade full spectrum cannabinoid oil on the market. Based on its studies through the University of Central Oklahoma, DV Biologics, and key organizations, ETST formulates, markets and distributes the CBD formula used for its studies to the public, offering the most effective quality of CBD on the market. To learn more, please visit: www.EarthScienceTech.com
Earth Science Foundation Inc.
Earth Science Foundation (“ESF”) is a favored entity of Earth Science Tech Inc. ESF is in the process of becoming a non-profit organization to accept grants and donations to conduct further studies and help donate Earth Science Tech's effective CBD products to those in need. To learn more please visit: www.ETSTFoundtion.org
SAFE HARBOR ACT: Forward-Looking Statements are included within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive positions, growth opportunities, plans and objectives of management for future operations, listing on the CSE, including words such as "anticipate," "if," "believe," "plan," "estimate," "expect," "intend," "may," "could," "should," "will," and other similar expressions are forward-looking statements and involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. We are under no obligation to (and expressly disclaim any such obligation to) update or alter our forward-looking statements, whether as a result of new information, future events or otherwise.
Nickolas S. Tabraue
CEO, President, Director & Chairman