ECGI Holdings Inc (ECGI)

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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


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*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.