FUTL, a leading provider of strategic real estate investment, grow facilities and material solutions to the global cannabis industry, announced today that it has signed a Funding and consulting Agreement with HempTech Corp (OTC PINK: HTCO) to raise money to fund 1,000 grow pods for HempTech in association with their exclusive Master Vendor Agreement to deliver containerized grow systems (grow.droid II) for Tinkerer's Obsession Labs (TOL). TOL, in conjunction with their partners, have agreed to purchase from HempTech a minimum of 1000 "grow.droid II" systems, between 2016 and 2022, to satisfy the growing need for cannabis among Indian reservations in North America. The estimated contract value for the agreed upon term between HempTech and TOL is north of $150M.
"The company closed on the property today with $80,000 down, $100,000 convertible note and another $70,000 owed late spring for a total of $250,000. The property is currently holding an active outdoor recreational grow facility and license owned by Groovy Groves, LLC, of which, FutureLand Oregon, LLC, owns 49% with an option to buy another 1% over the next couple years. The license is currently a Tier II grow license which allows 40,000 sq.ft. of outdoor grow. Effectively this means, we can be growing 40,000 sq.ft. of flowering plants at any one time. Which also means the company can be vegging and cloning separate from that designated flowering space which gives us a fantastic opportunity to cycle a large amount of cannabis throughout the year. We expect revenues in the neighborhood of $3,000,000 to $4,000,000 on this property next year. We will likely begin planting the next crop in late January." https://finance.yahoo.com/news/futurelands-futl-subsidiary-futureland-oregon-133000418.html?.tsrc=rss