SAN CLEMENTE, Calif., Aug. 1, 2017 /PRNewswire/ -- SUNSET ISLAND GROUP, INC. (OTCQB: SIGO) announced today that the company is in the process of securing multiple cultivation agreements in order to facilitate expansion plans.
CEO T.J. Magallanes stated, "In the state of California, cultivation agreements are part of the legal requirements for cannabis producers. As stated in a prior press release, we are looking at approximately 66K square feet of total grow space as the first phase of our expansion plans. We are securing cultivation agreements to meet that target, but a recent discussion and potential favorable opportunity have pushed us to secure cultivation agreements well above the previously announced square footage. There is a very real chance that we will expand well beyond our original planned square footage and we are awaiting word on whether this will come to fruition. The additional cultivation agreements that we are currently securing are in anticipation of that being the case. We should know by August 15th at the latest, but preliminary indications are favorable."
CFO Valerie Baugher stated, "My role is to ensure that the company is capable of growing at a pace that is in line with projected operating capital and preliminary indications are that we should be able to expand well beyond the square footage previously announced. We look forward to sharing more about this incredible opportunity with investors on or before August 15th."
Mr. Magallanes went on to say, "These are exciting times for our company and there are so many positives in the pipeline. We have three more bits of exciting news to share with our investors in the coming weeks. We feel strongly that investors should find what we have to cover to be very favorable to their long term investment in our company."
Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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.
SOURCE Sunset Island Group, Inc.