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CGrowth Capital, Inc. Executes Commercial Lease and Option to Purchase with Wildfire Cannabis Company
ACCESSWIRE via CMTX - Fri May 15, 8:30AM CDT
SILVERDALE, WA / ACCESSWIRE / May 15, 2015 / CGrowth Capital, Inc. (PINKSHEETS:CGRA) (the "Company") is excited to share the details of the Lease Agreement between our wholly- owned subsidiary Chewelah Properties, LLC and Wildfire Cannabis Company, LLC ("Tenant" or "WFCC"), a Tier 3 cannabis Producer in Washington state. The five (5) year, with five (5) year renewal, Lease Agreement calls for a turn-key operational facility provided by the Company for the production and processing of cannabis by the Tenant. The Lease Agreement anticipates gross payments in excess of $2,000,000 annually, to include base rent, tenant improvements, common area maintenance charges, ancillary rentable areas, and administration fees. The Lease Agreement provides for the Tenant to increase its base rentable space by up to 33% as future business growth dictates, in turn increasing the realized rent and revenue to the Company.
In addition to the Lease Agreement, the Company is pleased to announce that it has executed an Option to Purchase Agreement ("Option") with Wildfire Cannabis Company, LLC. The Option gives the Company the right to purchase WFCC for three (3) times its net annual revenue - to be paid by half in cash and half in restricted stock of the Company - for the term of the Lease Agreement. Triggers for the Option include the Company's evaluation of current Federal regulations as they relate to the classification of marijuana as a Schedule I substance, versus the anticipated reclassification to a Schedule II substance. The Company will also continue to evaluate the progression of current banking regulations regarding cannabis, and the ability to provide proper audit accounting moving forward.
"There are so many new opportunities beginning to present themselves to our Company within the marijuana sector that we are beyond excited for what the future holds," stated Bill Wright, CEO of CGrowth Capital. "We are building on existing relationships in Colorado, California, Texas, and other progressive states for future expansion into the broader national marijuana market. By leading in with strong leasehold agreements and the ability to purchase the business at a later date, we are setting ourselves up to be a leader in this emerging market when the legal climate changes."
The Company will continue to deliver on its commitment to transparency to its shareholders and investors, as we actively pursue business opportunities within our target markets, including the cannabis market space, oil and gas ventures, precious metals, real estate development, and the advancement of our dolomite and silica holdings.
Nothing illegal is happening here. The CEO is fully aware of his reporting obligations as an OTC Pink Sheet business.
Please do not imply illegalities without supporting documentation.
Also, please take your SEC complaints to their website. No one here can help you with your concerns.
CANNABIS SECTOR NOTES
"We believe that positioning the Company to be a part of this opportunity, both as a legal lessor now, as well as being in position to complete a future roll up upon national legalization, is a prudent business move to maximize shareholder opportunity." -- CEO Bill Wright
Reference: August 12, 2015 News Release
Excerpts from Quarterly Report for Period Ending September 30, 2015
On May 14, 2015, the Company executed a commercial lease with Wildfire Cannabis Company, LLC whereby the
Company would lease to Wildfire one of their warehouse spaces under a turnkey lease to include:
• 21,400 sq. ft. (building)
• +8,000 sq. ft. (fenced secure area)
• +13,200 sq. ft. (44 parking slots), plus an option for up to 7,000 additional building square footage.
Lease rates are $24.00 per rentable square foot, with annual CPI adjustments, plus $21.03 per rentable square foot in Tenant Improvements, plus $1.50 per square foot fenced secure outdoor entry, plus $0.24 per square foot parking.
Reference: http://www.otcmarkets.com/financialReportViewer?symbol=CGRA&id=147493
Cannabis Businesses Linked to the Chewelah Address (2432 North Highway 395)
1. Wildfire Cannabis Company, LLC
2. Wonder West Group
3. Randolph and Mortimer
Companies affiliated with this address are Tier 3 Producer License applicants (description below):
"To produce marijuana for sale at wholesale to marijuana processor licensees and to other marijuana producer licensees. Tier 3 allows for between ten thousand square feet and thirty thousand square feet of dedicated plant canopy. Any entity and/or principals within an entity are limited to no more than three marijuana producer licenses."
Note: The Company owns 47 acres of industrial property in Chewelah, Washington.
Marijuana License Applicants (Excel file updated weekly that contains both applicants and issued licenses)
http://www.liq.wa.gov/publications/Public_Records/2015-MJ%20Applicants/MarijuanaApplicants12222015.xls
(Filter by City of Chewelah.)
"When active licenses come up for renewal their status is changed from "Active" to "Pending (Issued)." Please include "Pending (Issued)" when filtering to see all currently active licenses."
WALCB Links
Washington State Liquor and Cannabis Board
http://www.liq.wa.gov
Producer License Description and Fees
http://www.liq.wa.gov/mjlicense/producer_license_discriptions_fees
Marijuana Dashboard (Maps and Metrics)
http://lcb.wa.gov/marijuana/dashboard
You summarized this scenario very well. The names are familiar. The tactics are predictable. I see superficial "issues" expressed that indicate thorough DD did not happen.
I can tell by MM behavior, and company information, that this is going way up. Current prices are very good.
No need to hate on anyone.
Merry Christmas :)
Thanks for your work MFI. I do not have PM. It's funny how we had the exact same thought though. I will enjoy Christmas with family as well as find time to summarize the info.
BARCHART = 100% STRONG BUY!
http://www.barchart.com/quotes/stocks/MCOA
That's the REAL deal! I subscribed to the U-Mobile YouTube Channel.
Thanks!
Possibilities are endless! Look at what the newly formed Marijuana Company of America is doing in CA. Many potential biz partners will emerge as legalization efforts progress worldwide.
Love the UK Bond and exposure it brings.
Nice work MFI. This team is working quietly and steadily toward their goals. The bond as a funding source should make everyone wake up and smell the cannabis coffee.
2016 will be a great year :)
Soft launch is a term for web software on a production server that is usable by test teams (bank employees) and development teams. Ed did say they were working on plug ins. It makes sense to test that functionality in a live environment.
I think yesterday's 750,000 buy was from someone who gets technology :)
Yes, I meant 750,000. EOD :)
I wish this afternoon's 750,000,000 buy at .0153 belonged to me!
To each his own. I will be partying with people who do believe them. It will be fun to get rich off this amazing company.
One man's treasure....
I think the Company communications on Facebook are awesome, insightful and informative. I also appreciate all the intelligent comments made by long-term investors who understand the business.
If you read Ed's FB postings, you will realize the Bank determines when Ed can PR the products/services have been implemented.
Please provide a link that supports your statements. Thanks :)
That's a conspiracy theory if I've ever seen one. Insiders cannot dump shares. See post regarding Rule 144.
The proof is always in the data. 32.6% of today's volume were short sales.
http://otcshortreport.com/index.php?index=mcoa&action=view#.VniSOVn5eao
Everyone can see this company is OTC Pink. They have to start somewhere. Name change effective December 1, 2015.
Moving onward and upward!
Working in the real business world where one gains insight into the inner mechanisms of business, technology, government, etc.
I know a good thing when I see it :)
No insider will dump shares in violation of Rule 144.
DEFINITION of 'Rule 144'
A Securities and Exchange Commission rule that sets the conditions under which restricted, unregistered and control securities can be sold. These are the five conditions that must be met for these securities to be sold:
1. The prescribed holding period must be met.
2. There is an 'adequate' amount of current information available to the public regarding the historical performance of the security.
3. The amount to be sold is less than 1% of the shares outstanding and accounts for less than 1% of the average of the previous four weeks' trading volume.
4. All of the normal trading conditions that apply to any trade have been met.
5. If wishing to sell more than 500 shares or an amount worth more than $10,000, the seller must file a form with the SEC before the sale.
Really Crowin? Did you read the Shareholder Update?
Here's the relevant excerpt:
Have to disagree with Crowin's claims. My DD reflects a real company with a comprehensive marketing plan, a smart business model being fine tuned through the Kush Agreement, well educated/skilled management with applied experience, superior communication skills, a commitment to no dilution, quality social media, experience developing cannabis products, and a low float.
Bar Chart: 72% Strong Buy
The revenue generating Kush Agreement begins January 1, 2016. This is just the beginning of a long and successful journey.
Short sellers will try to lower the pps for personal gain. Yeah, we all know how it works. More sells today means more buying to cover. It's going up.
My DD includes info we are fortunate to receive from our CEO. There is no weight given to any source. I use my wisdom, experience and intelligence to assimilate all information sources into one investment decision. I'm in on this one.
End of discussion.
My best info comes from my DD.
I'm not confused and neither are the other tech savvy long-term investors.
Communications are based on best available information.
Depends on what you mean by "live." Testing and Pilot phases involve live revenue-generating transactions.
There are no lies. These are timeline changes that are being reported as they happen. Breakout is correct.
The CEO does not make decisions based on stock price. He has stated this fact and adhered to this fact.
I disagree with this summation. I am going by far more than what the CEO is at liberty to state.
It helps to have technology experience, plain and simple. Task level dependency relationships impact the project timeline, time and time again. It is not a choice on anyone's part to have to report deadline adjustments based on third-party communications.
I don't need Press Releases because I am a long-term investor who understands this is a very long-term bank relationship.
The big picture is very bright.
I agree it is very easy to identify whether anyone has career experiences in technology. I do. I get it. Nice to see someone else does.
Our CEO is not a bank employee responsible for the project life cycle (a complex project plan) or its associated public relations campaign. There are many players involved and all have different reporting channels.
The Bank of Africa is a learning organization that values entrepreneurship. This means on-the-job learning opportunities are valued even though they can elongate project timelines and be more mistake prone.
The technology solution being delivered by our company is being transitioned to bank employees for future management.
People need to stop seeing our CEO as the person who controls the overall timeline. He has been updating us as he can. His best guesses need to be good enough if people want any information. Otherwise, you get nothing.
This is the way it has been, and will be, until the initial roll out in Nigeria is complete, and the company can afford to have onsite support for the ongoing implementations in other countries.
From the expressed concerns about the float size, and fears the price won't move, one might think all the longs holding millions of shares will cut and run at .025.
LOL!!!
Many have far more than a million average. Simply showing how easy it is to buy up the float when the pps is so small.
Like the CEO said, we will grow into our share structure.
The 2,125 Facebook fans only need average positions of 1 million shares to knock off that float.
One would have to be a long today and then speak for themselves to validate that theory.
For the record, this long is not feeling destroyed.
The WALCB updates their "Weekly Marijuana Report" every Wednesday.
http://lcb.wa.gov/marijuana/dashboard
Wildfire Cannabis Company is in the "Producer License Pending" group of 101 applicants. You can review the most recent list of Marijuana Applicants and their license status through the link below. The last Excel file is dated December 15.
http://www.liq.wa.gov/records/frequently-requested-lists
There have been changes to the license statutes, regulations, and processes at the state and local levels during 2015.
Rob Foster did acquire an interest in an existing license. Let the process run now as redesigned.
I provided links in Post 43345 which was a response to one of your postings.
I will post the message again for the benefit of new readers.
Wildfire's Producer License is Pending. The Licensing Report is updated weekly and available for review at this site:
http://www.liq.wa.gov/records/frequently-requested-lists
Read the FB postings. No one plops down 300k on a POS.
Ready to rumble :)