LOS ANGELES, CA--(Marketwired - April 02, 2014) - MediSwipe, Inc. (www.MediSwipe.com) (MWIP), a leader in Compassionate Care Technology and indoor/outdoor agricultural solutions for the medicinal marijuana industry, and Agritech Venture Holdings, Inc., the Company's wholly owned subsidiary, today announced that they have received the first executed lease and management contract on behalf of its' initial tenant for the Company's agricultural and cultivation facility located in Pueblo County, Colorado.
MediSwipe, last week featured in Wall Street Journal as the "Deal of The Week" highlighting the Company's commercial real estate and business strategy within the regulated medicinal marijuana and recreational market of Colorado, recently announced it had completed a joint venture purchase and lease back of 80 acres zoned for agricultural use in Pueblo County, Colorado.
Pursuant to these agreements, the Company will sublease individual parcels of the 80 acre managed and secure agricultural facility to fully-licensed and compliant growers and dispensaries within the regulated medicinal and recreational market throughout the entire state of Colorado. MediSwipe, with its' first executed contract and several additional under discussion will receive rents and management fees including providing infrastructure, water, electricity, equipment leasing and security services. The 80 acre greenhouse and managed facility once complete will be the largest managed facility of its kind within the state. Rents start for approximately 5 acre open land parcels at $4,500. Parcels with turnkey greenhouses starting at 10,000 square feet, with full infrastructure and the latest technology will be available for additional monthly rent of $12,500-$15,000.
"These first land leases and management contracts now coming in are a meaningful validation of a sustainable revenue model within this sector and will finally allow us develop a long term strategy of building a real property asset portfolio in key jurisdictions while at the same time seeking to achieve our goals of acquiring several six figure lease and management contracts within our managed facility. As a pioneer for over four years in this sector, it is our strategy to aggressively acquire properly zoned properties in multiple jurisdictions including additional property in Colorado, Washington State and Canada, and sublease these properties to fully licensed and compliant entities. Our facility in Colorado, presently under construction will be state of the art, including greenhouse technology, security onsite management and all utilities with first tenants taking occupancy by May 2014," stated B. Michael Friedman, CEO of MediSwipe.
About MediSwipe, Inc.
MediSwipe, Inc. (www.MediSwipe.com) provides innovative patient solutions and is the leader in Compassionate Care Technology for the medicinal marijuana industry. MediSwipe provides real estate management and health and wellness product lines including beverages, vaporizers and accessories. MediSwipe does not directly grow, harvest, or distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of MediSwipe, Inc. to be materially different from the statements made herein.