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Sunday, January 03, 2016 1:38:54 PM
these two new permits have nothing to do with Wildfire (or R Foster)and in order to use the address of the Chewelah property on these two MJ licenses a lease must have been signed, so CASH had to be handed over to CGRA.
Property leasing is a boring business, but the cash it throws off, could help accelerate CGRA's business plans - independent of any bond offering.
Also the property, that they paid $430,000 for is now worth a lot more because of the new leasing income. Somebody is going to be paying upwards of $2M in property improvements to set up these two Tier 3 grows, and a lot of that infrastructure is permanent improvements that will only increase the value of the property.
This could make the property an asset that can be leveraged for additional cash to grow the property leasing business.
Now how many MJ operations can CGRA fit on the property? Since they have 3 tax lots, and Washington state allows 3 per each tax lot they can have up to 9 total.
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