COCONUT CREEK, Fla., (GLOBE NEWSWIRE) — via OTC PR WIRE — Integrated Cannabis Solutions, Inc., (OTCPINK: IGPK) has agreed to purchase the 200 acre farm the test grow is being planted on, after a successful harvest of the 20 acres. The purchase of the farm will give Integrated a solid real estate Asset on the books.
The parties have agreed on a purchase price of $1,500,000 for the property that includes 3 sections of tillable land totaling 160 acres. The back history on the farm has proven both hemp and tobacco have been successfully planted on this farm. The soil is so rich in nutrients the crops require very little water. The farm has its own brook and water rights with pumping stations.
The test harvest will generate more than enough money to cover the cost of the purchase of the farm and fund the future operations on the farm. The initial harvest should yield $6-$8 million fully funding the farms next harvest of 160 acres and building a first class CBD lab.
The property already has a 3,000 square foot storage barn with a cement slab and an additional slab next to the barn to build another building, that will house a CBD lab to turn the plants into CBD Isolate.
The main issue farmers in Wisconsin have about growing hemp is the lack of places to process the crops in Wisconsin, this is why in 2018 far fewer people actually planted crops than were granted licenses.
On the additional 40 acres of land greenhouses will be built to house the seedlings for each planting, if timed right 2 plantings per year could be done, further increasing the revenue of the farm.
With the Farm Bill looking to be signed into law, Integrated Cannabis is positioned to be a leader in Wisconsin by having the ability to both store and process industrial hemp into CBD Isolate.
Integrated Cannabis has been reviewing other opportunities within the Cannabis sector and will begin to give further updates shortly.
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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