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ECGI purchasing Northern California 1.7m sq ft (40 acres) from SGMD CEO Jimmy Chan private LMK Capital company..
LOS ANGELES, Jan. 26, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – ECGI Holdings, Inc. (“ECGI” or the "Company") (OTC PINK: ECGI) today takes its first steps toward the development of its special cannabis acquisition model via the closing of a definitive agreement to acquire a privately held farm, which includes a *1.7 million-square-foot Northern California property zoned for cannabis cultivation, processing and manufacturing."
"The property also includes a house of approximately *2,175 square feet (the house
and land collectively “Property”
"The unpaid balance on the
note secured by the deed of trust as of December 31, 2020 was approximately *$979,000."
https://www.otcmarkets.com/stock/ECGI/news/ECGI-Holdings-Closes-on-Definitive-Agreement-to-Acquire-California-Property-for-Cannabis-Cultivation-and-Manufacturing?id=287471
.
*Several things...First, jimmy's private held LMK Capital purchased Lower Lake property for $1,375,000..Jimmy nabbed a $250k sgmd deposit for original mj gig, plus a couple of mortgage payments puts us in $979k balance range
2nd, notice mention of 2,175 sq ft house, which just so happens to be included in the 6 acre zoned mj area..:)
3rd, notice Jimmy's LMK Capital originally purchased a 40+ acre property that included 6 acres zoned for mj, licenses yet to be received..Just so happens ECGI states property size is 1.7m sq ft...and 40 acres x 43,560 sq ft per acre equals 1,742,400 sq ft.
You can review the original Lower Lake property listing link info and confirm (humbly) I'm on point...:)
https://www.redfin.com/CA/Lower-Lake/8159-CA-29-95457/home/45646312
I was never a fan of Jimmy's Lower Lake seemingly self serving purchase..But possible Jimmy abuses ECDI dilution and finds a way to benefit sgmd..and who knows for ECGI, the Asian boys have a splendid track record with installing associates in several shells.
Expect Jimmy to update (and spin:) certainly by next Q financials.
anyone confirm who holds cannabis delivery license and when issued? thx
anyone know nug avenue opening date?
anyone know nug avenue address?
gltu Fat!..hopefully soon getting fatter with sgmd
LOS ANGELES, Jan. 26, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – ECGI Holdings, Inc. (“ECGI” or the "Company") (OTC PINK: ECGI) today takes its first steps toward the development of its special cannabis acquisition model via the closing of a definitive agreement to acquire a privately held farm, which includes a *1.7 million-square-foot Northern California property zoned for cannabis cultivation, processing and manufacturing."
"The property also includes a house of approximately *2,175 square feet (the house
and land collectively “Property”
"The unpaid balance on the
note secured by the deed of trust as of December 31, 2020 was approximately *$979,000."
https://www.otcmarkets.com/stock/ECGI/news/ECGI-Holdings-Closes-on-Definitive-Agreement-to-Acquire-California-Property-for-Cannabis-Cultivation-and-Manufacturing?id=287471
.
*Several things...First, jimmy's private held LMK Capital purchased Lower Lake property for $1,375,000..Jimmy nabbed a $250k sgmd deposit for original mj gig, plus a couple of mortgage payments puts us in $979k balance range
2nd, notice mention of 2,175 sq ft house, which just so happens to be included in the 6 acre zoned mj area..:)
3rd, notice Jimmy's LMK Capital originally purchased a 40+ acre property that included 6 acres zoned for mj, licenses yet to be received..Just so happens ECGI states property size is 1.7m sq ft...and 40 acres x 43,560 sq ft per acre equals 1,742,400 sq ft.
You can review the original Lower Lake property listing link info and confirm (humbly) I'm on point...:)
https://www.redfin.com/CA/Lower-Lake/8159-CA-29-95457/home/45646312
I was never a fan of Jimmy's Lower Lake seemingly self serving purchase..But possible Jimmy abuses ECDI dilution and finds a way to benefit sgmd..and who knows for ECGI, the Asian boys have a splendid track record with installing associates in several shells.
Expect Jimmy to update (and spin:) certainly by next Q financials.
yup..
will try and update info later..cookie tossin' day, cant stay focused very long..:)
"Notice how this new ecgi just purchased another piece of land lol apparently???"
Scoob, that purchase happens to be Jimmy's Lower Lake LMK Capital property..gl
..correction, should say Jimmy's ex-Lower Lake County property..:)
In reference to Feb13 post...https://investorshub.advfn.com/boards/read_msg.aspx?message_id=161812788
Jimmy's property has yet to receive any cannabis licenses.
I'm no fan of hopefully frivolous (Budcars) class action lawsuits, but i wonder how this existing phone text fluff might play into the picture? Lawsuit mentions seeking up to $1500 per infraction and in plaintiff opinion there are several thousand violations...potentially millions in damages.
https://www.courtlistener.com/recap/gov.uscourts.caed.385082/gov.uscourts.caed.385082.1.0.pdf
Winnie, at my life stage I actually enjoy good stories of folk making SGMD money..and especially the old school who've hung around a while..It's a jungle out there, and Jimmy most certainly ain't no prince..But it is what it is..gl
Presently toying with Lynwood/LA area cannabis delivery jobsites and California cannabis license portals for fun..
https://www.indeed.com/jobs?q=Delivery+Cannabis&l=Lynwood%2C+CA&start=20
https://www.simplyhired.com/search?q=cannabis+delivery&l=Los+Angeles%2C+CA&pn=2&job=HzUzpZM_tHL7c17wSHpWjWWiFsRHe0JJBwHQJrHZaa1IOSuGLzKc9g
https://www.glassdoor.com/Job/los-angeles-cannabis-delivery-driver-jobs-SRCH_IL.0,11_IC1146821_KO12,36.htm
https://search.cannabis.ca.gov/
I'll try and call William Chung Monday for specific NUG Ave Lynwood location and opening status...
https://www.google.com/maps/place/1976+S+La+Cienega+Blvd,+Los+Angeles,+CA+90034/@34.0404587,-118.3766736,3a,90y,80.94h,95.44t/data=!3m6!1e1!3m4!1s5NQL0dN_ZTLUQRNh5ROyaQ!2e0!7i16384!8i8192!4m5!3m4!1s0x80c2b9714f2248fb:0x1ddecb7096144bd2!8m2!3d34.0405695!4d-118.3764628
Prepare yourself, whole lot more coming from pennyland..
Scoob,regroup..maybe make adjustments..Having been here since 2014 (3) day forty-five bagger, I've been violated a lot..a whole lot..And coming from a fella who has been (literally) "violated" multiples:) since stage4 prostate 3+ months ago..
People going to love/hate Jimmy..His lips movin'..well, you get it..Find a way to seize opportunities,even if you must accept a more conservative approach..
One has to be concerned imo if the supposed two LA SGMD/Budcars ever materialize..It is Jimmy after all..Wouldn't be surprised if the deal fades away..But, if ECGI partnership expands, might prove a respectable replacement..Hopefully, Budcars Sacramento a beneficial learning curve for SGMD to grab mj delivery service bull by the proverbial (Wall Street) horns.
Likely waaaay off base, but mind ccassionally wanders wondering if Jimmy's circumspect LA Budcar hub openings limited info played into otc caveat emptor?
Well...hopefully...You know, we never observed the final Budcars agreement verbatim, so who knows..Love or hate Jimmy, some slick chit has taken place during his tenure..Deal agreements tend to easily morph over time..You'll chuckle at my ECGI update..gl
suissac, i assume a (significant) 8k shortly regarding ECGI involvement, I'll update with links later..gl..Remember Jimmy, folk follow your extended tentacle leads..:)
Feb4 tweet.."We now have a tentative opening day set for mid February. Stay tuned for exact date....."
Has anyone confirmed the precise location yet? Would like to confirm an actual opening, or certainly close to it, or is it a location that needs to go through the lengthy "process" of opening..What stage is NUG Ave at Jimmy? delivery begins in Feb...or sometime down the road?
..and a Happy New Year to you Winnie!
Per Feb4 Tweet..""Sugarmade Inc (OTCQB:SGMD)
@Sugarmade1
We promised a Premium Los Angeles based delivery brand and we’re ready to deliver. We now have a tentative opening day set for mid February. Stay tune for exact date.."
..and replied.."Seems like simply inserting "Budcars" would be suffice..Wording makes me wonder if Jimmy sticks with Budcars brand or change up in the making, especially since Jimmy name removed from Secretary position in updated filing.?"
Well, that's why you always gotta read Jimmy's PRs multiple times..Appears Jimmy did a change up from anticipated Budcars..:)
ECGI Holdings Creates Nug Avenue Subsidiary - Announces Definitive Agreement for Cannabis Delivery Services in Thriving Los Angeles Marketplace
Press Release | 02/09/2021
LOS ANGELES, Feb. 09, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – ECGI Holdings, Inc. (“ECGI” or the "Company") (OTC PINK: ECGI), which plans to operate as Elite Cannabis Group and has been reorganized as an acquisition-oriented corporation with California-based targets of distressed cannabis assets, properties zoned for cannabis cultivation and processing, today announces its second agreement within the fast-growing California regulated cannabis market. The Company has signed a definitive management services agreement to enter the cannabis delivery business in conjunction with a California cannabis license holder operating out of Lynwood, California.
ECGI created a wholly owned subsidiary, Nug Avenue, Inc., a California Corporation, which will hold the contract with the licensed party. The Company plans to enter into an additional agreement whereby it will sell up to 70% of the Nug Avenue unit to a third party, allowing the Company to retain and report an approximately 30% ownership.
“We are continuing to expand our investments within the California cannabis market,” commented William Chung, CEO of ECGI. “Last month, we announced the acquisition of prime Northern California real estate that is zoned for cannabis cultivation with this new invesment opportunitiy targeting the even faster-growing area of cannabis delivery. We plan on announcing our additional partnerships relating to this new agreement over the coming weeks, if not sooner. We are in the process of vetting additional similar transactions as part of our strategy to acquire distressed assets and other cannabis-related businesses with long term and hyper-growth potential.”
According to multiple industry watchers and California cannabis regulators, the California market continues to grow rapidly. Much of this growth is driven by the delivery market, which is especially strong in the Los Angeles Metro area.
Mr. Chung added, “We expect the growth trends within the Los Angeles market to continue and we are positioning our investment direction appropriately. We plan to provide our investors with additional details on this transaction, our plans for the business operation of the delivery business, and concerning other possible cannabis-related investments over the coming days and weeks.”
Hi Mattie, just walked in the house door..Sort it out later..For starters fwiw..https://www.otcmarkets.com/stock/ECGI/profile
Nice job Austin!
Love/hate Jimmy at times..SGMD does present big opportunities!
Imagine what happens when Jimmy confirms LA hub Feb news!
Splendid!..and I know you are up GRGW! Patience paid..
Incredible sgmd opening action!
Too much,lol...good chit from an (in general) non supporter..
:)...you got it!..gl
Lets put out responsible sgmd good,bad and ugly..and folk decide from there..and of course add a lil' flavor to the message along the way..
Today, it's sgmd good...make it great Jimmy with confirmation news.
Treatment gig this afternoon..Feelgood IV prep bag #1 wearing off, hence active posting..real deal IV bag #2 setting in..Preparing for inevitable cookie tossing time.
If Jimmy's got the good stuff, he'll deliver by opening in the morn imo..Most bang for his buck..gl on the 750k shares..Otherwise, guess it's onto next week for info update.
Please tell me you didnt sell yet..:)
You're working on a 2.25+ bagger come tomorrow morn..Whatcha gone do..when they come for you..
lol..is that a Bernie meme?
When BZRTH deal rescinded he packed some bags and said hello to Grow Generation..GRGW 52 week price 2.62 - 67.75 and Remember got in on the low if memory serves..Most certainly enjoying profits..gl to him.
"Everyone here should tread lightly."
Sticky material Sonny..:)
lol..what a "scheme"..I remember miserably well.:)....Now Sonny, recall it actually did close....only to have deal rescinded just prior to first Quarter for BZRTH revenues to be reported in financials..Sonny, I'm bipolar Jimmy lover/hater..What we must recognize there are occasions that SGMD offers significant opportunity for gains/losses..despite Jimmy..Question is, do recent buying folk take sizeable gains now, or let 'er ride? Every man\woman for himself my friend..gltu Sonny
nope..doesn't appear Jimmy can either since mid Oct..Amazing thing about otc...sometimes it just doesnt matter for specific period of time..amazing..gl Mattie
As expected, NUGS cracked .50 today..NUGS cracks .50 again tomorrow imo.gl
lol...i'll help Jimmy news with imaginative two cents for tomorrow?...Help yourself Jimmy.
SGMD confirms LA Hub #1 opening Feb 22...LA Hub #2 projected to open within 60 days...and another 30 days for North California wine country..
Then Jimmy states depending on initial hub sales expectations VS sales reality he is negotiating whether to exercise the 30% option or do an outright Budcars reverse merger into SGMD...And we love reverse mergers in pennyland.
Give us an update Jimmy...pronto.