World News: 12:00 GMT Wednesday 15th May 2019. [Integrated Cannabis Solutions, Inc. via Globe Newswire via SPi World News]
COCONUT CREEK, Fla., May 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Integrated Cannabis Solutions, Inc., (OTCPINK: IGPK) executed an agreement on April 15, 2019 to purchase a 200-acre farm in Monroe County, Wisconsin for $1,595,000 the Closing is scheduled for this summer.
The farm being purchased has a total of 200-acres of which 160 acres are tillable and will be used to plant hemp. The remaining 40 acres will be used to create a Grow facility for seedlings and a processing facility.
A total of 2 acres will be used to place a 30Ft by 96Ft Controlled Grow House and up to 30 (30Ft by 96Ft) Green Houses to hold the seedlings. In order to plant all 160 acres next year over 250,000 plants will be needed.
The Grow facility will be used to create another revenue stream for IGPK. The current market price for seedlings range from $3-$5 per plant, a small 15-acre farmer will pay $75,000-$125,000 for seedlings to plant on their farm. The Grow house will be able to produce almost 45,000 per Grow cycle.
The property has 4 bungalows and a pad to build a 5th unit that the current owners have been renting and as they built a profitable Getaway Destination location. The bungalows are rented as sleeping quarters only each unit has a different theme that includes a loft, kitchen and hot tub.
The current owners have been approached by Airbnb to handle all the reservations, Integrated will work with Airbnb to process all reservations including creating a Hemp Farm Getaway package. Hemp Farm Getaway packages like this are popular in other countries like Canada that offer logging and tours.
Integrated will have 4 separate revenue streams on the farm; hemp, processing, seedlings, and destination with additional projects in the works.
Included in the purchase price are all the furnishings for the bungalows and spare inventory for the destination business plus 4 vehicles the staff on the farm will use.
Integrated has agreed to keep the Sellers name and business confidential until the sale is final to respect their privacy. The redacted contract will be posted on OTCMarkets.com.
Integrated Cannabis Solutions, in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg FD.
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, release of corporate apps, growth of platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk. Details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure on.
For additional information about this release please contact: Investor Relations:
Matt Dwyer Twitter @IGPKOTC 954-906-0098
Globe Newswire: 12:00 GMT Wednesday 15th May 2019
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