DENVER, CO--(Marketwired - Mar 21, 2014) - Mountain High Acquisitions Corp. (
Through its wholly-owned subsidiary, Canna-Life Corp., Mountain High holds an option to purchase nine (9) acres of land common known as the "Isabelle Property" located at 10452 Isabelle Road, Lafayette, Colorado 80026.
Since October 2012, the primary tenant at the Isabelle Property has been one of the largest greenhouse marijuana grow facilities in the State of Colorado, with a total of 42,000 sq./ft. under roof (approx. 1 acre). The advanced marijuana cultivation operation at the Isabelle Property utilizes proprietary techniques to grow over 50 specific strains of marijuana for medical and recreation use. The current operation can produce in excess of 5,000 lbs. of marijuana annually over approximately ten separate harvests. At current medical marijuana wholesale pricing, the tenant/grower can generate in excess of $10,000,000 in annualized gross revenues. The tenant/grower anticipates significant topline revenue growth following near-term completion of regulatory inspections on property improvements made to accommodate the tenant's planned entry into retail and recreational marijuana sales where pricing is approximately double current rates.
"The marijuana cultivation business at our Isabelle Property is one of the undisputed crown jewels of the booming marijuana sector in Colorado," stated Mr. Alan Smith, President of Mountain High Acquisitions Corp. "Isabelle's established reputation, massive size, ideal location, and our surrounding eight acres of land, make it an ideal site for future improvements."
In addition to premium lease revenues from the Isabelle Property, the Company anticipates generating additional complementary revenue streams related to its position as landlord and primary services provider.
Mr. Smith concluded, "I look forward to working closely with our long-term tenant to improve, develop, and maintain the Isabelle Property as a one of the leading and most advanced greenhouse marijuana growing facilities in the State of Colorado."
About Mountain High Acquisitions Corp. (MYHI)
Mountain High Acquisitions Corp. is a strategic real estate holding company whose primary focus is the acquisition and development of commercial properties to be leased and utilized by the marijuana industry. Mountain High's current portfolio includes three Colorado properties zoned for commercial marijuana cultivation: Isabelle, Madison, and Pueblo.
Disclaimer/Safe Harbor: This Mountain High Acquisitions Corp. news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company's contracts, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all. The Company does not and will not grow, harvest, 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.