DENVER, Colorado, April 21, 2014 /PRNewswire/ --
The Home Treasure Finders Inc. (OTCBB: HMTF) (OTCQB: 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.
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.
HMTF Cannabis Holdings is currently negotiating for funding with sources including UBS, Geneva and Full Circle. "We are looking for a long term funding relationship. In the interim, cash raised in our completed private placement is available," says Home Treasure Finders CEO, Corey Wiegand.
Robert Huntley, Licensed in Horticulture, Pest Control Management and General Contractor for HMTF Cannabis Holdings said "As soon as we have the right funding agreement, I will begin swinging steel for our first state of the art cultivation leasing project."
Other current Home Treasure Finders Inc. company milestones include;
- The signing of an affiliate consulting agreement with Kyle Fitzgerald, a licensed Commercial Realtor in Oregon. "I am excited to help HMTF Cannabis Holdings Inc. expand their acquisition plan in OR and eventually WA", says Fitzgerald. "We are also looking in to establishing similar consulting relationships with experienced commercial agents in the Arizona and California MMJ marketplaces" says Wiegand.
- The securing of a new brick and mortar real estate office in the Berkeley / Highlands Area of Denver. "We are very excited to work and grow along with one of Denver's Oldest communities because the median home values are high and we are now actively competing with some of the larger real estate companies in the Denver market (i.e. RE/MAX, Berkshire Hathaway (Rocky Mountain Realty), and Nostalgic Homes," says Wiegand.
- As of 4/15/2014, the property management division of Home Treasure Finders Inc. has reached a 0% vacancy level. This is far beyond the residential management industry standards of approximately 8%. "We are averaging a leasing turnaround of less than 10 days per unit," says Michael Godinez, Home Treasure Finders Inc. leasing agent.
- In order to take full advantage of the exciting growth conditions in the Commercial Cannabis industry, Home Treasure Finders Inc. has formed the wholly owned subsidiary HMTF Productions LLC. The new company has been video recording the daily activities of all three Home Treasure Finders Inc. divisions since its registration on 3/27/2014. "We plan to use the videos to create promotional materials documenting our daily activities and our many successes here in Colorado," Says Wiegand.
- HMTF is currently negotiating for the commencement of a long term relationship with the esteemed Carmel Associates public and investor relations firm located in San Diego. "We are excited to explore sources of equity capital to finance our projected growth and provide more releases detailing our day-to-day business activities so our shareholders feel more appreciated and in the "know"- says Wiegand.
- HMTF Cannabis Holdings has begun negotiations for a strategic alliance with affiliate Rosewind Corporation, OTCQB RSWN. "We envision entering a Joint Venture, funded by Rosewind, to research Cannabis genetics using the tools of synthetic biology with a goal to perfect and commercialize various high value technologies", explains Jim Wiegand, President, Rosewind Corporation. This will benefit the tenants which occupy HMTF Cannabis Holdings Inc. grow facilities by enabling them to enforce proprietary ownership and reliably identify various strains of cannabis. This brings extra value to the landlord / tenant relationship thus allowing HMTF to post higher quarterly earnings.
This news release contains "forward-looking statements," as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. 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 developing and acquiring land and water resources. There can be no assurance Home Treasure Finders will be able to raise additional capital, that it will be able to increase the scale of its business, or that its existing resources will be sufficient to meet all of its cash needs. These forward-looking statements are made as of the date of this news release, and Home Treasure Finders assumes 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.
Home Treasure Finders, Inc.
SOURCE Home Treasure Finders Inc