Advanced Cannabis Solutions (ACS) (OTCQB: CANN) announced today that it closed on the purchase of a commercial grow facility in Pueblo County on December 31, 2013. The purchase represents the Company’s first asset acquisition and consists of a 5,000 square foot functioning grow facility on 3 acres of land. The tenant is aggressively expanding their operation and will utilize the excess land to develop up to an additional 40,000 square feet of light deprivation greenhouse grow space. These improvements are part of the Company’s development plan for the property and the Company intends to build them out in stages in the near future.
ACS President and CEO Robert Frichtel stated, “This acquisition is very important to the ACS, not only because it represents our initial entry into the Colorado legal marijuana real estate space, but also because it has the potential to become the largest grow center in the Pueblo area. Pueblo County’s marijuana industry is in a unique position to grow dramatically, as there are a limited number of properly zoned and approved grow facilities, and the demand from the southern Colorado area is expected to increase significantly.”
About Advanced Cannabis Solutions
ACS provides a comprehensive set of solutions to the regulated cannabis industry. The Company does not grow, harvest, distribute or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.
The Company leverages its management team’s extensive experience in serving the cannabis industry by providing the following three distinct areas of products and services: real estate, consulting, and ancillary products. ACS plans to work exclusively with licensed and regulated clients.