Bangi Inc (BNGI)

[TruthistoldTruthfully]

This has no language that directs toward an LOI.

“Today has announced it has launched the initial stage of its acquisition strategy with the purchase of a prime 7,000 square foot property located on Detroit’s famous Eight Mile district.

The Company expects to enter into a triple-net lease agreement with a tenant which intends to operate the property as a licensed cannabis cultivation and processing facility upon completion of renovations.”

The way this is written says they have purchased a property in Michigan which is where they acquired a license for hemp cultivation and explains the map that was required to be submitted to obtain the license in the first place. Being that it is in the eight mile districts tells me the property qualifies for the opportunity zone which further validates their business plan. It sounds like they have a tenant who is ready to start utilizing the property once renovations are completed which will generate income in the form of a trip net lease. Here are the corresponding PRs which again demonstrate BNGI and the continued following through with their business plan.

https://www.accesswire.com/551729/cannabis-real-estate-firm-bangi-inc-announces-receipt-of-one-of-first-industrial-hemp-production-licenses-for-michigan

https://www.accesswire.com/553197/cannabis-real-estate-firm-bangi-inc-to-file-as-a-qualified-opportunity-fund-with-irs

https://www.accesswire.com/554779/cannabis-real-estate-firm-bangi-inc-launches-acquisition-strategy-with-purchase-of-cannabis-processing-facility