SOL Global Investments has announced that CannCure Investments, a portfolio company of SOL Global, has secured a USD$15,000,000 construction loan from Advanced Flower Capital to fund the construction and development of a new, state-of-the-art, 88,327 square foot tilt-up indoor cultivation, processing and lab facility in Indiantown, Florida for CannCure’s One Plant Florida (formerly 3 Boys Farm, LLC). "One Plant is a medical cannabis treatment center in the State of Florida licensed by the Florida Department of Health, Office of Medical Marijuana Use. The construction loan will be secured by a mortgage and other commercially-common security interests," the team with the company explains.
"The new indoor facility, to be located on One Plant’s existing Indiantown, Florida property, will include individual flowering rooms, post-harvest processing rooms, advanced curing rooms, a full extraction and research and development lab, a kitchen, trim and packaging rooms, research and development cultivation rooms, and storage and administrative space. The new facility will be directly adjacent to One Plant’s 54,000 square-foot Nexus Greenhouse in Indiantown. One Plant anticipates the greenhouse will commence full operations before the end of the first quarter of 2020, subject to the receipt of all required regulatory approvals from the Florida Office of Medical Marijuana Use."
Nexus Greenhouses, manufactured by the Colorado-based company, Nexus Greenhouse Systems, utilizes modern, state-of-the-art agricultural technology combined with a high-yield growing approach to produce indoor-style cultivated flower with less demand on energy resources. "One Plant Florida’s own 54,000 square foot Nexus greenhouse was designed to include ten (10) separate cultivation rooms, and will employ separate heating and cooling systems for each room, shade control and light deprivation systems, state-of-the-art automation, irrigation and fertigation systems, all to enhance One Plant’s continued production of the highest quality cannabis flower in the State of Florida," they further explain.
"I am very excited about having Advanced Flower Capital as a capital partner as we scale up our operations as a premium flower company in Florida," said Brady Cobb, CEO. "The entire One Plant Florida team is committed to our mission and purpose of cultivating and delivering world-class flower and flower-derived products to Florida’s patients, and this construction loan will allow us to continue to execute on our plans to build and develop a state-of-the-art indoor facility to facilitate expansion and the acquisition of additional market share in the budding Florida marketplace."
"Obtaining the construction loan satisfies one of the conditions under the previously announced business combination agreement between CannCure, Goldstream Minerals Inc. ("Goldstream"), and a wholly-owned subsidiary of Goldstream, that will result in the reverse takeover of Goldstream by the shareholders of CannCure (the "RTO"). If the RTO is completed, then the issuer resulting from the RTO will carry on the business of CannCure as a U.S. multi-state cannabis company initially operating in the State of Florida via One Plant. The completion of the RTO is subject to a number of other conditions, including the receipt of all requisite shareholder and regulatory approvals including, without limitation, the de-listing of Goldstream from the NEX board of the TSX Venture Exchange, the listing of the Resulting Issuer’s common shares for trading on the Canadian Securities Exchange, and all necessary approvals from the Florida Office of Medical Marijuana Use. There can be no assurance that the RTO will be completed as proposed or at all," they conclude.
For more information:
Sol Global Investments
Suite 301, 366 Bay Street
Toronto, ON,
Canada
M5H 4B2
Phone: (+1) 212 729-9208
[email protected]
solglobal.com