COCONUT CREEK, Florida, Sept. 25, 2019 /PRNewswire/ -- Integrated Cannabis Solutions, Inc., (OTCPINK: IGPK) has executed a Purchase Agreement to purchase 9.5-acres in California. This purchase will allow Integrated to make a serious push into the largest legal Cannabis market in the world.
The Company has retained special counsel to assist with the Closing documents for this transaction. The land is being purchased for a combination of cash and stock, the property is zoned for M-1, M-5 and M-2 with the Final Closing subject to the issuance of the Conditional Use Permit ("CUP"). IGPK does not see any issue with obtaining the CUP, since the land is already zoned for Cannabis and management currently holds Cannabis licenses within the State of California already.
The property is within Los Angeles county, which is known for its efficiency issuing licenses, permits and Certificates of Occupancy to Cannabis companies.
The licenses that are available upon issuance of the CUP are:
The only licenses not available is a Dispensary.
After the CUP is issued while the facilities are being built, the Company will place temporary structures on the property for Cultivation and Manufacturing. This will allow the property to generate revenue and cover the cost of construction without causing dilution to the Company.
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 otcmarkets.com.
SOURCE Integrated Cannabis Solutions, Inc.