- IGPK is building a Grow facility for Seedlings on the farm
- The farm has Bungalows that earn revenue as Destination Getaways
- Collectively the farm will have a total of 4 separate revenue streams
COCONUT CREEK, Fla., May 15, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Integrated Cannabis Solutions, Inc., (IGPK) executed an agreement on April 15, 2019 to purchase a 200-acre farm in Monroe County, Wisconsin for $1,595,000 the Closing is scheduled for this summer.
The farm being purchased has a total of 200-acres of which 160 acres are tillable and will be used to plant hemp. The remaining 40 acres will be used to create a Grow facility for seedlings and a processing facility.
A total of 2 acres will be used to place a 30Ft by 96Ft Controlled Grow House and up to 30 (30Ft by 96Ft) Green Houses to hold the seedlings. In order to plant all 160 acres next year over 250,000 plants will be needed.
The Grow facility will be used to create another revenue stream for IGPK. The current market price for seedlings range from $3-$5 per plant, a small 15-acre farmer will pay $75,000-$125,000 for seedlings to plant on their farm. The Grow house will be able to produce almost 45,000 per Grow cycle.
The property has 4 bungalows and a pad to build a 5th unit that the current owners have been renting and as they built a profitable Getaway Destination location. The bungalows are rented as sleeping quarters only each unit has a different theme that includes a loft, kitchen and hot tub.
The current owners have been approached by Airbnb to handle all the reservations, Integrated will work with Airbnb to process all reservations including creating a Hemp Farm Getaway package. Hemp Farm Getaway packages like this are popular in other countries like Canada that offer logging and tours.
Integrated will have 4 separate revenue streams on the farm; hemp, processing, seedlings, and destination with additional projects in the works.
Included in the purchase price are all the furnishings for the bungalows and spare inventory for the destination business plus 4 vehicles the staff on the farm will use.
Integrated has agreed to keep the Sellers name and business confidential until the sale is final to respect their privacy. The redacted contract will be posted on OTCMarkets.com.
Integrated Cannabis Solutions, Inc. - IGPK has been granted Hemp Grower and Processor licenses in the State of Wisconsin, once known as "The Hemp Capital" of the United States. The farm IGPK is purchasing once grew hemp and tobacco, and currently grows corn on a commercial basis. Hemp grows wildly on the farm and surrounding farms.
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.
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