DENVER, CO--(Marketwired - Sep 25, 2014) - United Cannabis Corp. (
The companies will work jointly to develop the property optimizing it for the growing, cultivation, and/or processing of marijuana, in accordance with all applicable State of Colorado and county laws, regulations, codes and ordinances, with the primary objective of furthering the Company's research and development of medicinal cannabinoid and related products.
Under the agreement, United Cannabis will serve as master tenant, subleasing parcels to affiliates and other subtenants. United Cannabis will also serve as property manager, overseeing the design of the 80-acre campus, incorporating the Company's proprietary protocols and methodologies. Construction of buildings and structures, such as basic and state-of-the-art greenhouses, as well as enhancements to the property, such as fencing and irrigation, will be added as mutually agreed upon.
Earnest Blackmon, President and Chairman of United Cannabis, commented on the agreement, "Development of the Pueblo property is an integral part of the Company's growth plan. The geography of the site provides optimal growing conditions, and the layout is ideally suited for our needs. The partnership with INTIVA offers us the flexibility to develop the site to our specifications in order to best work with our licensed affiliates and exclusive contractors."
Mr. Blackmon went on to say, "In addition, as the master lease holder, United Cannabis will maintain control of the property, ensuring that we can preserve the integrity of the land as we look to expand our own efforts in the development of on-site genetics, cultivation, processing, and production of our trademark products."
Joshua Greenberg, Chief Executive Officer of INTIVA Real Estate Colorado, stated, "United Cannabis is the perfect collaborator for this venture. They have extensive knowledge within every aspect of the medical cannabis industry. That expertise, as well as their affiliate relationships, will enable us to optimize the productivity of this parcel. With an estimated 3.2 million square feet of growing space, the property has the potential to be one of the largest grow facilities in the state of Colorado."
About United Cannabis Corporation
United Cannabis Corporation was founded to provide leadership for the medical cannabis industry by offering patient driven solutions intent on improving biomedical and pharmaceutical pursuits thru the use of Cannabis based research, products and services.
For further information, please visit www.unitedcannabis.us
About INTIVA Real Estate Colorado LLC
INTIVA Real Estate Colorado LLC is a wholly-owned subsidiary of Global Cannabis Ventures Ltd. ("GCV"). GCV was formed to enable investors worldwide to participate in the burgeoning legal marijuana industry, primarily through wholly-owned operating businesses and venture investments. GCV's operating businesses include INTIVA Real Estate Colorado, the owner of the Pueblo County property; and INTIVA Nutraceuticals Ltd., which is in the process of being formed.
GCV's venture investments include ownership in three medical marijuana growers in Canada under Health Canada regulations; in Israel based BreedIT, a global leader in the breeding and licensing of high quality cannabis seeds for medical and recreational purposes; and One World Cannabis, an Israeli company proceeding with clinical trials to develop cannabis medicines for various medical conditions.
Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933, and are subject to Rule 3B-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and other results and further events could differ materially from those anticipated in such statements. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements.