Eco Innovation’s Next Generation Cannabis Extraction Technology On Track For Full Commercial Launch As US House Considers Federal Cannabis Legalization

VAN NUYS, Calif., March 30, 2022 /PRNewswire/ — Eco Innovation Group, Inc. (OTC: ECOX) (“ECOX” or the “Company”), an innovative company developing new green energy solutions, is pleased to inform current and potential shareholders of The Company’s Supercritical Glycerin Extraction Technology (“GET”), an advanced cannabis extraction system, is progressing through the United States Patent and Trademark Office (USPTO) while a key bill considering the federal legalization of cannabis is heading for a vote in United States House of Representatives this week.

As announced by the Company in its press release dated March 17, 2022Eco Innovation Group recently received notice of acceptance from the USPTO for its patent covering methods for extracting plant materials obtained using the GET system, which was licensed exclusively to ECOX by Glytech, LLC ( “Glytech”).

“The GET system is an upgrade of the technological horizon for the production of superior quality herbal extracts with a demonstrable reduction in costs, as well as time and energy, during the extraction process, which which has huge implications for the cannabis products industry,” said Julia Otey-Raudes, CEO of Eco Innovation Group. “As we move toward comprehensive intellectual property protection to accompany our exclusive licensing rights for this next-generation extraction technology, we believe the legislative momentum is a tailwind for the cannabis industry, and we applaud legislators who are helping to advance and provide more equity and better access.”

The Marijuana Opportunity, Reinvestment and Expungement Act (the “MORE Act”) is a bill sponsored by the Chairman of the House Judiciary Committee. Jerrold Nadler (D-NY) who’s ready for a vote to erase United States House of Representatives this week. The bill essentially aims to remove cannabis from the list of federally controlled substances, which could open the door to true federal legalization of cannabis in United States. However, the bill would not require states to legalize cannabis, but would leave states with discretion to regulate.

At the same time, the Secure and Fair Enforcement (SAFE) Banking Act (HR 1996), sponsored by Rep. Ed Perlmutter (D-CO), is now under consideration in the Senate with a version that was reintroduced on March 23, 2021and is sponsored by Sens. Jeff Merkel (D-OR) and Steve Daines (R-MT), with 180 current cosponsors. The SAFE Banking Act would create protections for financial institutions that provide financial services to state-legal cannabis businesses, providing small, minority-owned cannabis businesses access to banks and regulated financial services.

Management views these measures as important steps in leveling the playing field for consumers and businesses as the GET system moves toward a commercial launch, which is currently scheduled for Q4 2022 or early 2023.

The GET system’s herbal extraction method promises to reduce waste from vaping cannabis and provide better standardization of extracts in products. Unlike current technology on the market, this technology uses a CO2-free solvent and cofactors to extract selected bioactive compounds from plant materials. The result is an extracted fluid superior in viscosity to the output of current CO2-based extraction methods, while streamlining time, energy and capital costs.

The GET system was covered by chemical engineering journal Last year.

Otey-Raudes added: “This technology – our proprietary technology – promises to increase yields with greater resource efficiency while creating more consistent and standardizable concentrations of target compounds. This consistency is an important factor. This means that customers can obtain products with the same power every time, which is not the case with current methods used today, including supercritical CO2. We anticipate that this technology will generate reduced overhead for manufacturers while creating better overall returns and greater customer satisfaction. In a maturing industry with growing reach, this is paramount.”

About Eco Innovation Group

Eco Innovation Group was founded by inventors and business professionals to help develop and catalyze the most innovative and impactful products and services, and to deliver those innovations to the world, improving the quality of life in our communities and the world around us, while delivering value. to our shareholders.

At ECOX, we are dedicated to developing and marketing high-performance products. But we will never lose sight of the fact that we exist first and foremost to help people and improve life on the planet we all share. We take our social responsibility contract seriously in all of our efforts. It’s not just what we do. It’s who we are. For more information, visit www.ecoig.com.

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FORWARD-LOOKING STATEMENTS: This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may also be included in other publicly available documents issued by the Company. and in oral statements made by our officers and representatives from time to time. These forward-looking statements are intended to provide management’s current expectations or plans regarding our future operating and financial performance, based on assumptions currently believed to be valid. They can be identified by the use of words such as “anticipate”, “intend”, “plan”, “aim”, “seek”, “believe”, “project”, “estimate”, “seek”. expect”, “strategy”, “future”, “probable”, “could”, “should”, “should”, “could”, “should” and other words of similar meaning in the context of a discussion of future operational or financial performance. Examples of forward-looking statements include, but are not limited to, statements relating to future sales, earnings, cash flow, results of operations, uses of cash and other measures of financial performance.

Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and other factors that may cause the actual results and financial condition of the Company to differ materially from those expressed or implied by forward-looking statements. These risks, uncertainties and other factors include, but are not limited to, economic conditions, changes in laws or regulations, demand for the company’s products and services, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward-looking statements. Any forward-looking information provided in this press release should be considered in light of these factors. We assume no obligation to update any forward-looking statements contained in this report.

Corporate Contact:
Eco Innovation Group, Inc.
[email protected]
www.ecoig.com

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