PALM BEACH, Florida, September 6, 2017 /PRNewswire/ --
Advancements and Regulation in legal cannabis and marijuana markets is pushing the industry to new heights and allowing current pot stocks to fight through resistances levels as expansion, new product developments and higher quality cannabis goods are rising in popularity with consumers around the globe. Active companies raising the bar in the industry this week include: Sunset Island Group, Inc. (OTC: SIGO), Agritek Holdings Inc. (OTC: AGTK), Marijuana Company of America Inc. (OTC: MCOA), Amfil Technologies Inc. (OTC: AMFE) and Cannabis Science Inc. (OTC: CBIS)
SUNSET ISLAND GROUP, INC . (OTCQB: SIGO) announced today that the company has officially begun expansion of their cannabis grow space. CEO T.J. Magallanes stated, "As phase one of our expansion plans, we have announced our intention to ramp up to a minimum of 152,000 square feet of greenhouse space and there's still potential to increase well beyond that number. Effective immediately, a new 6,000 square feet of our expansion square footage is being built out and 100% of this portion of the expansion will be grow space. The MAPAL Agro equipment and supplies are being ordered and set up and clones will be fully planted and ready for harvest approximately 90 days from now." Read this and more news for Sunset Island Group at: http://www.marketnewsupdates.com/news/sigo.html
Mr. Magallanes went on to say, "We've had a lot of emails and phone calls lately about our business structure, so I would like to once again cover a few of the basics. We plan to expand to a minimum of 152K square feet as phase one of our expansion. We believe that $200 in revenue per square foot of grow space is a realistic target going forward. As of today, we have approximately 4.7 million shares outstanding. Officers of our company, including myself, do not take salaries. Our compensation is realized through a monthly dividend; the same dividend that our shareholders receive on a monthly basis. All officer shares in the company are preferred status and locked up for a minimum of 3 years from day of conversion. Expansion capital is being raised through a combination of an S-1 filing and various substantial investments into preferred shares. We have no real debt, no toxic debt and we plan to keep it that way."
He went on to say, "We are on a rotational harvest which allows us to harvest cannabis year round. We are one of only a few cannabis grow facilities that have received Enviroganic Certification, the highest certification of cannabis growers available. We are one of only two cannabis grow facilities in the country using the organic MAPAL Agro system (See website below). And finally, we have two opportunities for shareholders to visit our facility, the first one being September 16, 2017 and we hope that you'll take the time if you're in the area to visit us."
In other industry news and developments:
Agritek Holdings Inc. (OTCQB: AGTK) came to a close up slightly on Tuesday with over 4.6 million shares traded by the market close. The company recently announced it has executed a five (5) year operational and exclusive licensing agreement with Green Acres Pharm, a 10,000 sq. ft. licensed and operating cultivation and manufacturing facility located in Washington State. Agritek Holdings will help provide additional infrastructure buildout costs for the services of licensing products for the Company in the new manufacturing facility as well as provide equipment lease/financing partners. Under the five (5) year operational contract and licensing agreement, Agritek Holdings will receive revenue in the form of consulting fees, licensing fees on all vaporizer and edible brands, equipment and lighting rental and financing fees. The Company has infused the first $100,000 of funding into Green Acres Pharm at the time of this release with plans for an additional $250,000 over the next months for machinery and equipment.
Marijuana Company of America Inc. (OTC: MCOA) closed up slightly on Tuesday with over 2.7 million shares traded by the market close. The company recently announced a Joint Venture ("JV") with Global Hemp Group Inc. ("GHG") (CSE: GHG) (OTC: GBHPF) on its industrial hemp project on the Acadian peninsula of New Brunswick, Canada. MCOA has partnered with GHG to assist in developing commercial hemp production in the region. Currently GHG is conducting its first phase hemp cultivation trials on the peninsula (Please visit the following link for updates -- http://globalhempgroup.com/trialupdates ). The results of these trials will be used to establish commercial cultivation in 2018. In this first year of the JV, MCOA will share the costs of the ongoing hemp trial; provide its expertise in developing hemp cultivation; and, be granted a Right of First Refusal as GHG's primary off-taker of any raw materials produced from this project. The project is also receiving research support from Collège Communautaire du Nouveau Brunswick (CCNB) located in Bathurst, New Brunswick.
Amfil Technologies Inc. (OTC: AMFE) recently announced an update regarding its GRO3 subsidiary. The ECOPrO3 GRO3 product line is continuing to network, market and expand its brand exposure to the market. Brian Allossery and Ambrose Fillis have been busy working on generated leads and inquiries on the technology and have had expressed interest from a number of industry related retailers as well as with companies that are in the production side of the industry or have cannabis producing business models. The GRO3 subsidiary is currently working on the final stages of a quotation request that was received from the same party that the purchase order commitment was received from last month. A RotoGRO representative has already provided this party with an estimated number of units needed for a double stack roll-out of a 14,000 sq. ft. facility. It is estimated that for the 14,000 sq. ft. roll out and with approx. 9000 - 10,000 sq. ft. of total canopy would give an estimated 216 to 240 RotoGRO systems depending on the final layout that will be chosen.
Cannabis Science Inc. (OTC: CBIS) recently announced significantly positive analytical lab testing reports from its San Joaquin Sovereign Tribal Free Land MBS, Industrial Hemp Project. Initial analytical reports from the first cut plants reveals that the strains being used are well within the boundaries of laws and regulations placed on industrial hemp research projects of this sort. The lab results from the 2017 CBIS/FSO NAC MBS001 initial harvest show values of THC 0.26% and CBD at 5%. This is a critical initial sign with a ratio of CBD to THC for the strains tested since these strains were chosen specifically for this reason. Industrial Hemp has certain regulatory levels of cannabinoids allowed for legal regulatory status across the country.
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