Arcturus Growthstar Technologies Inc. (OTCQB: AGSTF) Announces 25,000 SQ Ft $5 Million Dollar "LED" Vertical Farming Project. Arcturus Growthstar is pleased to announce that it has partnered with CBO Financial, Inc. ("CBO") for the development and operation of a major "LED" vertical farm project in Baltimore, Maryland. Arcturus is also pleased to announce that it has concurrently signed a Letter of Intent ("LOI") to lease 25,000-sq ft of commercial shell space from Volunteers of America Chesapeake to accommodate the Baltimore farm. Read this and more news for Arcturus at: http://marketnewsupdates.com/news/agstf.html
Volunteers of America Chesapeake ("VOAC"), one of the largest and most respected nonprofits in the region, owns a building in Baltimore, MD that will undergo additional improvements to accommodate Arcturus' Controlled Environment Agriculture ("CEA") technology, which uses LED lights to grow plants on vertically stacked levels. As a partner in this indoor farm, VOAC has agreed to contribute generous rent concessions to Arcturus. The farm will be co-located in a residential reentry center, which helps ex-offenders reenter society and the workforce after serving federal prison sentences. The farm will provide job training and therapeutic opportunities for VOAC's residents. Arcturus, CBO and VOAC intend to use this Baltimore model to expand the Company's CEA technology and training and therapeutic programs developed by VOAC into other markets throughout the United States.
Arcturus previously announced that CBO would act as the Company's financial advisor with respect to New Market Tax Credits (NMTC) for certain vertical farming projects. As part of this Baltimore farm transaction, CBO Financial will be arranging for $5,000,000 in NMTC based financing. CBO will also plan, co-finance, and perform day-to-day operations at the farm, and Arcturus will provide the system design, off-take agreements, co-finance, and offer ongoing O&M support. The Baltimore Farm is expected to be a showcase for Arcturus' LED horticulture lighting technology and the first of many projects that CBO and the Company will work on together in collaboration with Volunteers of America Chesapeake.
In other cannabis company performances in the markets of note:
CV Sciences, Inc. (OTCQB: CVSI) closed up over 8% on Wednesday at $0.32 trading over 900,000 shares by the market close. CV Sciences, Inc. operates two distinct business segments: a drug development division focused on developing and commercializing novel therapeutics utilizing synthetic CBD; and, a consumer product division focused on manufacturing, marketing, and selling plant-based CBD products to a range of market sectors.
Terra Tech Corp. (OTCQX: TRTC) closed up slightly on Wednesday at $0.31 trading over 2.3 Million shares by the market close. Terra Tech Corp. operates through multiple subsidiary businesses including: Blüm, IVXX Inc., Edible Garden, MediFarm LLC and GrowOp Technology. Blüm's retail medical cannabis facilities focus on providing the highest quality medical cannabis to patients who are looking for alternative treatments for their chronic medical conditions.
American Cannabis Company, Inc. (OTCQB: AMMJ) closed up slight on Wednesday $0.81 trading trading over 1.2 Million shares by the market close. American Cannabis Company, Inc. offers end-to-end solutions to existing and aspiring participants in the cannabis industry. AMMJ recently announced it has signed another client in Pennsylvania who will be applying for a dispensary license in the state's upcoming medical marijuana program.
Aurora Cannabis Inc. (OTCQB: ACBFF) closed up on Wednesday at $1.64 trading just over 590,000 shares by the market close. Aurora's wholly-owned subsidiary, Aurora Cannabis Enterprises Inc., is a licensed producer of medical cannabis pursuant to Health Canada's Access to Cannabis for Medical Purposes Regulations (ACMPR) and operates a 55,200 square foot, expandable, state-of-the-art production facility in Mountain View County, Alberta, Canada
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