The Company entered into an agreement to purchase 13.6 acres of cannabis-zoned land and buildings located in Washington State. There are currently multiple buildings on the property, including a 30,000 square foot building with a Tier 3 – I-502 marijuana cultivation and processing licensed tenant, a 9,190 square building which could be renovated as the facilities processing center, a 7,200 square foot mechanic shop, a 2208 square foot office building and large sheds.
Renovations to the cultivation building to meet Washington States energy code have been
The Company plans to develop the property for cultivation, processing and research purposes.
Sales of legal marijuana in Washington state have climbed up to $1.3 billion in fiscal year 2017 , up from $786 million in fiscal 2016, and $259 million the year before.
– Washington State Treasurer