The Now Corporation To Receive $500,000 Capital Funding
Now Corporation intends to begin construction of hydroponic facility in the first quarter of 2016 to grow and process hemp for its CBD oils.
PORTLAND, OR, DECEMBER 10, 2015 – THE NOW CORPORATION (NWPN.PK) announced today that it has entered into a Letter of Intent with an investment consortium based in Los Angeles, California. As part of the terms The NOW Corporation will receive a capital injection of $500,000 in order to begin construction on its first Colorado based hydroponic facility.
The NOW Corporation will receive $500,000 upon the finalization of the terms which is expected to take place within the next 30 days. NOW’s management team expects to begin construction of its first hydroponics facility in the first quarter of 2016.
The facility will be used to grow industrial hemp in a controlled environment in order to ensure ideal growth conditions and maximum number of harvests throughout the year. Each acre is estimated to produce a minimum of 6,000 hemp plants with an expected six grams of CBD'S per plant at a projected market value of $25 per gram with four harvests per year (6,000 plants x 6 grams x 4 harvests x $25 each year for a gross $3,600,000 per acre). Hydroponic facilities on a per acre basis can grow from 18,000 up to 75,000 plants which if achieved would significantly increase NOW's projected revenue per acre some three to twelve times. The NOW Corporation through a subsidiary company owns 650 acres of farm land in Colorado.
