Advancers in Cannabis Sector Forge Ahead Despite Recent Pressure - Company Announces Plans for Acquisitions in CO, OR, WA & AZ
CORAL SPRINGS, Florida, April 21, 2014 /PRNewswire/ --
Market news updates for Marijuana companies working to move forward as sector expands despite recent turbulence: The Home Treasure Finders Inc. (OTCBB: HMTF), Medical Marijuana, Inc. (OTC: MJNA), Terra Tech Corp. (OTC: TRTC), IMD Companies, Inc. (OTC: ICBU) and GreenGro Technologies, Inc. (OTC: GRNH)
The Home Treasure Finders Inc. (OTCBB: HMTF) subsidiary HMTF Cannabis Holdings Inc., has been working diligently to successfully procure a property. After extensive due diligence, the company terminated the previously announced offer dated 3/20/14 to purchase a parcel in Commerce City, Colorado. "We terminated the offer, without penalty, because we discovered the water quality in the area was going to be potentially detrimental to our tenant's crop" says Wiegand. That said, the acquisitions team consisting of; Asset Manager, David Peacock, Cannabis Attorney, Ted Waitkus, and General Contractor, Robert Huntley, have located over 30 additional properties in the Colorado that are suitable for commercial MMJ and Recreational Cannabis Cultivation.
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Immediately upon writing the offer for the property in Commerce City, the company began screening potential tenants and has since compiled a substantial waiting list of tenant growers that are believed in full compliance with Colorado State law. "There is a shortage of properly zoned cultivation operations in Colorado, and there are more compliant tenants than there are grow spaces," says HMTF Cannabis Holdings Inc. Asset manager, David Peacock. The company is aggressively negotiating and writing contracts for the purchase of fully leased cultivation warehouses and for properly zoned raw land parcels designated for the creation of state of the art grow facilities. The company aims to incorporate Inflatable Dome, Greenhouse, and Warehouse growing techniques alongside alternative energy technologies to help their tenants produce more harvests per year, better yields, and lower costs. On 4/17/2014, HMTF Cannabis Holdings Inc. submitted two offers to purchase vacant land parcels in Colorado. The first offer was for a 40 acre parcel and the second for a 35 acre parcel. Each parcel is located in a properly zoned rural area which will allow for the construction of 1 home and 1 state of the art growing facility. Each offer allows for a 20 day due diligence period and several other contingencies. Both are all cash offers with closing dates in early May 2014. The company will continue to disclose all offers and contracts when executed.
Medical Marijuana, Inc. (OTC: MJNA) recently announced that its subsidiary company, HempMeds(TM), is participating as a sponsor of the HIGH TIMESUS Cannabis Cup in Denver, Colorado April 19-20.HempMeds(TM) proudly markets the world's most innovative cannabidiol (CBD)-rich hemp oil products and is representing an entry for "Highest CBD Concentrate" (from hemp) at the US Cannabis Cup. Broadcasting live from the HempMeds(TM) booth is the world-renowned Robert Scott Bell Show that will air on Natural News Radio Sunday, April 20th. This is an historic event that celebrates the State of Colorado being the first state in the U.S. to legalize both recreational and medical cannabis. Robert Scott Bell, D.A. Hom. states, "I am absolutely thrilled to be broadcasting live from the Cannabis Cup at the HempMeds exhibit to spotlight the profound health-supporting properties of hemp CBD, and to raise awareness that no one has to move out of their home state to get it."
Terra Tech Corp. (OTC: TRTC) recently announced a $6.5 million financing of convertible debentures, Aegis Capital Corp. acted as placement agent for the offering. The proceeds are primarily being used for ramping up production of the company's new 5-acre hydroponic cultivation facility, developing the GrowMass program, working capital and competing for medical cannabis permits in Nevada. The company is currently holding approximately $3 million in cash and has drawn roughly $2.3 million of the recent debentures leaving over $4 million available to the company to execute on their business plan. "We were fortunate to be able to raise the necessary capital to grow our business," said Terra Tech CEO, Derek Peterson. "As always management is focused on utilizing our capital in accretive ways. It's always difficult for a small company that is in growth mode to accurately forecast revenue, however we decided to estimate based on what we currently see in the companies pipeline of existing business. This forecast doesn't include any potential acquisitions, success in Nevada or any significant unexpected growth in our business, all of which we hope we achieve. We wanted to give investors both and achievable and conservative estimate for the year."
IMD Companies, Inc. (OTC: ICBU) recently announced that it has identified April 23rd -25th as the dates for our innovative Sales Conference for selling its products and services in the Medical Marijuana business space. This conference will enable ICBU to design its corporate sales and marketing strategy for the next six months for the EMC-5000 system and our additional products that ICBU will be manufacturing in its California facility. ICBU feels that the potential markets for its products are in the hundreds of millions and look to capture our share of the market. iMD Companies VP of Sales, Jim Filkins stated. "With the addition of Lumz, we have identified many areas where we have synergy in areas of distribution, sales and marketing. Through warehousing the Lumz products in our facility in California we will be able to substantially increase our margins and bottom line".
GreenGro Technologies, Inc. (OTC: GRNH) recently announced the official grand opening of its Anaheim California store on May 15th. The Vertical Hydrogarden store soft opened this month with some 30,000 product offerings on shelves around the store. The Anaheim store is the second location with continued Company expansion plan to reach 50 stores openings. "The Anaheim location provides us with the opportunity to build a repeatable format for the Vertical Hydrogarden store format in terms of offerings and layout to service our specialty market," said James Haas, CEO of Greengro Technologies. "We look forward to celebrating our Grand Opening of this new store, which further reinforces our continued investment in our product offering. We commit to bringing our expertise, knowledge and premium products to our clients for their specific needs."
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