WEEKEND UNLIMITED INC. PROVIDES DETAILS OF ORCHARD HEIGHTS GROWERS ACQUISITION
7.2-acre Orchard Heights Growers property in Eastern Washington draws from its roots in the commercial tree fruit industry to bring the emerging cannabis industry advanced farming practices
VANCOUVER, BC, CANADA (October 30th, 2018) –Weekend Unlimited Inc. ("Weekend" or the "Company") (CSE: YOLO) (FSE: 0OS1) is pleased to announce the details of its arm’s length acquisition of a Wenatchee, Washington cannabis property, now branded Orchard Heights Growers, (the “Wenatchee Assets”).
Weekend Unlimited Washington LLC is a wholly owned subsidiary company formed in Washington State for the purpose of acquiring the Wenatchee Assets and providing a suite of services to cannabis licencees in Washington State including intellectual property identification and strategies, equipment, land lease arrangements, nutrient and agriculture consulting services and other services to be developed.
“The Company identified a need in the Washington cannabis industry for competent, effective, professional services as well as strong marketing and branding which many Washington cannabis business owners have been unable to effectively provide or manage,” said Weekend’s President and CEO, Mr. Cody Corrubia.
“As such, the Company, through Weekend Unlimited Washington, intends to supply cannabis business owners with land, expertise, compliance and equipment necessary to maximize profits and minimize costs,” noted Mr. Corrubia. “Additionally, Weekend Unlimited Washington expects to supply strong branding and marketing expertise to its clients through service and licensing agreements with each cannabis licencee,” added Mr. Corrubia.
Orchard Heights Growers Acquisition Details
- On April 26, 2018, the Company entered into agreements to acquire the Wenatchee Assets which included the following:
(a) the real property located in East Wenatchee, Washington comprised of approximately 7.2 acres including a 30,000 square foot growing facility, a 16,000 square foot plant canopy and a 5,000 square foot indoor hydro plant canopy;
(b) nursery, production, harvesting and processing equipment including a closed loop ethanol extraction system, indoor hydroponic equipment, HPS (high pressure sodium) and LED (light-emitting diode) lights; and
(c) the established retail sales network.
- This part of the transaction has recently closed for a total purchase price of US $1,000,000
- As of the date hereof, the Company is actively negotiating contracts for services with three Tier-3 producer/processor licencees. In the event that such contracts are executed, the Company would be providing services to licenced cannabis businesses in the State of Washington representing up to a total of 90,000 square feet of licenced production
Orchard Heights Growers Highlights:
- Pioneering Weekend’s B2B model, Orchard Heights provides a platform for farms looking to have a consistent source of premium genetics from advanced tissue culture facilities
- Orchard Heights will deploy an industrial extraction system that can produce consistent high-quality cannabis concentrate
- Orchard Heights is located strategically on the Columbia river, in Central Washington allowing for expedient distribution to metropolitan markets
- In addition to an advantageous location for B2B processing and distribution, Orchard Heights has over 300 days of sunshine with an ideal cultivation climate for cannabis
- At 2.18 cents/kWh the average (industrial) electricity rate in Wenatchee is 67.32% less than the national average rate of 6.67¢/kWh, positioning Orchard Heights to benefit, due to its geographic advantages. (source: https://www.electricitylocal.com/states/washington/wenatchee/)
For further information, please contact:
Cody Corrubia, President & CEO
Telephone: 1 (236) 317-2812
E-mail: [email protected]
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
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