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Primco Advances Cannabis Plans with Acquisition of 10 Acre Property

Ryan Allway

April 16th, 2014

News, Top Story

Primco Management Inc. (OTC: PMCM), a medical marijuana real estate management and multimedia company, recently announced that it entered into an agreement with private land owners to acquire two five acre parcels zoned for medical marijuana cultivation in Snohomish County, Washington, where it plans to build two 30,000 square foot cannabis production facilities.

To manage the production and sale of medical cannabis, the company engaged Alton LLC and Lano LLC pending the issuances of their Tier 3 licenses. The management agreements include 99-year terms with the company retaining approximately 98% of the gross revenue. Once its completed, the project is expected to provide cultivation of up to five tons of medical marijuana per year.

“The acquisition of land and subsequent construction of at least two separate 30,000 [square] foot facilities coupled with the acquisition of Suzie Q’s, cements our position in the Washington State market,” said Primco CEO David Michery. “Although Tier 3 licensing allows for the production of recreational cannabis, we continue to stress … [our] plan calls for the production of medical marijuana only.”

On April 1, 2014, the company announced that it had begun construction on its Suzie Q dispensary in Washington. Improvements to the dispensary have been completed in compliance with the Washington State Liquor Board and traceability and security measures are now being installed. Additions to the space allow for increased horticulture, dispensary, and caretaker space.

In addition to its cannabis-related business activity, the company has historically been involved in the entertainment and real estate industries. The real estate division is working on a joint venture to create 60 upscale “Tuscany Villas” in Corona, California, while the entertainment division is involved with music production and distribution deals after acquiring top labels.

Shares of Primco Management Inc. (OTC: PMCM) are trading up more than 20% during Wednesday’s session and nearly 150% over the past month.

This article was published by CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the industry’s leading agency and digital financial media network dedicated to the burgeoning CBD and legal cannabis industries. Call +1 (833) 420-CNFN for more information.

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.

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CFN Enterprises Inc. (OTCQB: CNFN) owns and operates CFN Media Group, the premier agency and financial media network reaching executives, entrepreneurs and consumers worldwide. Through its proprietary content creation, video library, and distribution via www.CannabisFN.com, CFN has built an extensive database of cannabis interest, assisting many of the world’s largest cannabis firms and CBD brands to build awareness and thrive. For more information, please visit www.cfnenterprisesinc.com.

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