Wednesday, May 30, 2018 7:48:48 AM
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GREEN LEAF FARMS
Authorized Shares
1,200,000,000
05/16/2018
Outstanding Shares
594,334,619
05/18/2018
Restricted
176,924,111
05/16/2018
Unrestricted
418,160,508
05/16/2018
Players Network Signs Binding Letter of Intent to Acquire a 56,000-Square-Foot, Fully Operating Greenhouse ComplexPress Release
LAS VEGAS, May 10, 2018 (GLOBE NEWSWIRE)
Player’s Network, Inc. (OTCQB:PNTV), a leading diversified and integrated cannabis holding company, announced today that it entered into a binding Letter of Intent to acquire the assets of a 56,000 sq. ft. fully operational greenhouse complex licensed for cannabis cultivation in Salinas Valley California.
The purchase price for the complex is $5,000,000 in cash to be paid out in tranches based on a payment schedule over several months and is estimated to close before the end of May. The purchased assets will include the facility, its temporary marijuana licenses that ultimately will be transferred to a PNTV subsidiary, fixed assets, all existing inventory, plus supplies and business plans and relationships.
PNTV CEO Mark Bradley stated, “Earlier this year we announced that we were going to invest into the California market through a project in Desert Hot Springs. We have tabled that development for now due to its long payback period and other risk factors. However, by signaling publicly our interest in California, we were able to discover other acquisition targets in what we believe is the best region to cultivate marijuana in the entire nation. The Salinas Valley offers the perfect climate to cultivate year-round with very modest utility and infrastructure costs. We believe this acquisition will produce immediate and ongoing returns that will push PNTV to new heights.
This greenhouse is pristine and has a great existing operational team and sales channels that we plan to retain and build upon.”
PNTV CFO Geoffrey Lawrence stated, “We estimate that this facility will generate about $800,000 in total revenue for the month of May based on its existing track record and PNTV will be able to recognize those revenues starting May 1, per the negotiated agreement. We certainly hope to grow those revenues even further and plan for this acquisition to be the first of many fully operational cultivation facilities to join the PNTV family. We have spent the past several months engaged in comprehensive strategic planning to develop our new, cohesive growth strategy and this acquisition will be the crown jewel. We couldn’t be happier.”
DOUBLE BOTTOM YO
GREEN LEAF FARMS
Authorized Shares
1,200,000,000
05/16/2018
Outstanding Shares
594,334,619
05/18/2018
Restricted
176,924,111
05/16/2018
Unrestricted
418,160,508
05/16/2018
Players Network Signs Binding Letter of Intent to Acquire a 56,000-Square-Foot, Fully Operating Greenhouse ComplexPress Release
LAS VEGAS, May 10, 2018 (GLOBE NEWSWIRE)
Player’s Network, Inc. (OTCQB:PNTV), a leading diversified and integrated cannabis holding company, announced today that it entered into a binding Letter of Intent to acquire the assets of a 56,000 sq. ft. fully operational greenhouse complex licensed for cannabis cultivation in Salinas Valley California.
The purchase price for the complex is $5,000,000 in cash to be paid out in tranches based on a payment schedule over several months and is estimated to close before the end of May. The purchased assets will include the facility, its temporary marijuana licenses that ultimately will be transferred to a PNTV subsidiary, fixed assets, all existing inventory, plus supplies and business plans and relationships.
PNTV CEO Mark Bradley stated, “Earlier this year we announced that we were going to invest into the California market through a project in Desert Hot Springs. We have tabled that development for now due to its long payback period and other risk factors. However, by signaling publicly our interest in California, we were able to discover other acquisition targets in what we believe is the best region to cultivate marijuana in the entire nation. The Salinas Valley offers the perfect climate to cultivate year-round with very modest utility and infrastructure costs. We believe this acquisition will produce immediate and ongoing returns that will push PNTV to new heights.
This greenhouse is pristine and has a great existing operational team and sales channels that we plan to retain and build upon.”
PNTV CFO Geoffrey Lawrence stated, “We estimate that this facility will generate about $800,000 in total revenue for the month of May based on its existing track record and PNTV will be able to recognize those revenues starting May 1, per the negotiated agreement. We certainly hope to grow those revenues even further and plan for this acquisition to be the first of many fully operational cultivation facilities to join the PNTV family. We have spent the past several months engaged in comprehensive strategic planning to develop our new, cohesive growth strategy and this acquisition will be the crown jewel. We couldn’t be happier.”
DOUBLE BOTTOM YO
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