Monday, November 14, 2016 3:45:09 PM
Arcturus Growthstar Technologies Inc. (AGS: CSE) (AGSTF: OTC) is a company we became more favorable on now that Florida passed a ballot initiative to legalize medical cannabis
A few days before the vote, Arcturus signed a letter of intent to acquire a 10-acre operating greenhouse in a county in Florida that is designated to cultivate, process, and dispense cannabis. The company also said that the greenhouse meets Florida’s criteria for agricultural farmers looking to manufacture cannabis.
Arcturus CEO William Gildea said the property has been family operated since 1959 and currently grows ornamental plants. In the past 12 months, it has generated over $2,600,000 in revenue with EBITDA of over $400,000.
CEO Gildea added, “Once fully licensed and operational, the property has the capacity to generate 7 figures in revenue per month. In the interim we feel we can use our CEA technology to quadruple the current ornamental plant yields, thereby increasing both profit and revenue.”
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