Primco Management to Build 30,000-Square -Foot Marijuana Cultivation Facility in BC
Mar 03, 2014 (ACCESSWIRE via COMTEX) -- Primco Management Inc. (OTCQB: PMCM) entered into a joint venture with British Columbia-based CanMed Ventures on Feb. 24 to build and operate a 30,000-square-foot cultivation facility for the production of medical marijuana.
The Century, Calif.-based multi-media and real estate development company said it expects to be fully licensed within 6 months and generating first-year revenues exceeding $20 million.
This is just Primco Management's latest move to develop various properties in order to lease them to companies growing or selling legal marijuana.
Also Acquiring Property in Los Angeles
On Feb. 12 the Century, Calif.-based company said it planned to initially acquire property in the greater Los Angeles area with subsequent plans to extend its operations to Western states where medical marijuana is permitted by state law. The leased facilities will meet all zoning and licensing requirements for the ongoing, legal dispensing of medical cannabis. Primco will not engage in the cultivation or sale of medical cannabis or any of its byproducts.
"Today's political environment regarding the legalized production of medical cannabis is the solution not only for patients in need of the medicinal benefits of marijuana but also in helping to keep the illegal dealing of marijuana off the streets. The economic dynamics are perfectly aligned to make this business opportunity a great success for us," stated Primco's CEO David Michery, in a written statement.
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