WEED, Inc. Increases Investment Over $1,000,000 in Colorado Medicinal Cannabis Industry
Sangre AgroTech to Open Bioscience Center in La Veta, Colorado
TUCSON, AZ / ACCESSWIRE / July 18, 2017 /WEED, Inc. (OTC-PINK:BUDZ) (the “Company” or “WEED”), a current non-SEC reporting company, announced that its recent acquisition, Sangre AT, LLC (dba “Sangre AgroTech”), plans to open the Sangre Bioscience Center in La Veta, Colorado. WEED has an agreement to purchase ~4 acres on State Highway 12 for $1,000,000, with the initial closing to be July 26, 2017. Under the purchase agreement, WEED, Inc. will pay $500,000 cash down plus 25,000 shares of stock on July 26, 2017, with the balance to be paid off in four 6-month payments over next two years. The property includes a 10,000 sq. ft. building which will be home to the Sangre Bioscience Center, where the Sangre scientific staff will continue its 5-year Cannabis Genomic Study. Also on the property are a 4,000 sq. ft. building which the companies plan to house Sangre AgroTech’s analytical and extraction laboratories, and a 3,500 sq. ft. facility where the companies plan to house a corporate office center. The facility also has 25 RV slots with full water and electric, which will be converted to a series of small research PODs. WEED currently has the initial $500,000 down payment, but will need to raise additional funds to pay the remaining balance of the purchase price, as well as renovate the property and facilities.
“Once renovations are complete, WEED’s investment in the Colorado property will create our flagship for bioscience operations that we believe will span the globe,” commented WEED’s CEO, Glenn E. Martin. “Our team at Sangre AgroTech is dedicated to making new discoveries that will show the true nature and power of the Cannabaceae plant. Benefits of its healing powers are mostly untold. The ‘Sangre Bioscience Center’ will write the story from the molecular level and, we believe, direct and lead the future of the Cannabis industry. Our goals are global, our cures are local,” stated Mr. Martin.
Mr. Martin further commented, “I would personally like to thank the Mayor of La Veta, Mr. Doug Brgoch, and the entire La Veta City Council for their warm welcome to Sangre AgroTech, our President and Chief Science Officer, Dr. Patrick Williams, and our Vice President of Operations, Mary Williams.”
Dr. Williams stated, “Once completed, this new facility would provide Sangre AgroTech with the perfect location to optimize its research goals and continue our goals of developing scientifically-validated products for the medicinal cannabis market. We are excited to become La Veta’s newest business partner.”
Highlights from Q1-Q2 for WEED, Inc.:
- Acquired Sangre AT, LLC (dba “Sangre AgroTech”) and its goal to sequence and decode the Cannabis genome, to improve the therapeutic properties of the plant, i.e., increased THC and CBD concentration and production of specific classes of oils and terpenes. This will facilitate our efforts to develop new therapies for chronic pain, epilepsy, cancer, PTSD, chronic head injury, Crohn’s disease, and others.
- Paid off WEED’s only Promissory Note to date of $68,230 for the exchange of 70,000 common shares in June 2017.
- Returned 4,820,953 common shares (approx. 5% of O/S) to WEED’s treasury in April 2017 from previous court won settlement in 2014.
- Established WEED Australia Ltd, as an unlisted public Company in March 2017. ACN # 617 827 764.
About WEED, Inc.
WEED, Inc. (OTC-PINK:BUDZ) is a USA-based public company. WEED Inc. plans to be a multi-national, multi-faceted, vertically-integrated world class Cannabis organization. WEED is structured as a holding company doing business through its divisions, wholly-owned subsidiaries, and strategically placed collaborative partners to achieve and promote our global agenda and brands. WEED is dedicated to its global goals and outreach across the full spectrum of the Cannabis industry to find treatments and medical cures utilizing the Cannabaceae plant family. WEED does not grow, harvest, produce, or sell any substance in violation of US Federal law under The Federal Controlled Substances Act, and meets all standards of international law for WEED, Inc. subsidiaries in foreign locations. For additional information about WEED, Inc., please visit www.Marijuana-Farms.com.
About Sangre AT, LLC
Sangre AT, LLC (dba “Sangre AgroTech”) is a plant genomic research and breeding company comprised of top-echelon scientists with extensive expertise in genomic sequencing, genetics-based breeding, plant tissue culture, and plant biochemistry, utilizing the most advanced sequencing and analytical technologies and proprietary bioinformatics data systems available. Sangre AgroTech’s world-respected team provides decades of expertise and innovation in the fields of genetics, plant biology, plant pathology, phytoecology, and sustainable and environmentally sound agricultural practices. Using annotated genomic data and newly generated phenotypic data, Sangre AgroTech plans to identify and isolate regions of the genome related to growth, synthesis of desired molecules, drought and pest resistance. This complex data set will then be utilized in a breeding program to generate and establish new hybrid cultivars which exemplify the traits desired by the medical community.
For additional information about Sangre AgroTech, please visit www.sangreagrotech.com.
This release contains forward-looking statements. Statements that are not a description of historical facts constitute forward-looking statements and may often, but not always, be identified by the use of such words as “expects,” “anticipates,” “intends,” “estimates,” “plans,” “potential,” “possible,” “probable,” “believes,” “seeks,” “may,” “will,” “should,” “could” or the negative of such terms or other similar expressions. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in the Company’s business, including that we have a limited operating history and very limited funds, are dependent upon key personnel whose loss may adversely impact our business, some of our potential business activities, while believed to be compliant with applicable state law, may be illegal under federal law because they violate the Federal Controlled Substances Act, and we may be subject to the risks related to the cost, delays and uncertainties associated with potential future scientific research, product development, clinical trials and the regulatory approval process. We may not be able to enter into binding agreements related to the subject matter of this press release on terms favorable to us or at all. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and the Company undertakes no obligation to revise or update this release to reflect events or circumstances after the date hereof.
For more information, contact:
Glenn E. Martin at (520) 818-8582 or admin@Marijuana-Farms.com
SOURCE: WEED, Inc.