- Leased area increases from 5,000 sq ft to 25,000 sq ft with ability to sublease
- New lease has a 5-year term with purchase option built in
COCONUT CREEK, Fla., Sept. 09, 2019 (GLOBE NEWSWIRE) — via OTC PR WIRE — Global Consortium, Inc., (OTCPINK: GCGX) has negotiated a revised lease with an option to purchase 25,000 square feet of the building the company currently leases in Sacramento. Global is currently trying to secure a First Right of Refusal on the remaining 39,000 sq ft of the building.
The new lease and purchase option will be between the building owner and Global Consortium, Inc.
Leasing a larger portion of the building gives the Company time to get multiple parts of the business operational prior to purchasing the building.
Global will use 5,000 sq feet for Indulge Oils and Infused Edibles manufacturing operations, as well as manufacturing for White Label deals. Another 5,000 sq feet will be used for Delivery and Distribution, which is expected to be operational before the end of 2019.
The remaining 15,000 sq ft will be used to house cultivation and additional manufacturing opportunities.
Following the issuance of the Certificate of Occupancy, Indulge Oils will begin manufacturing its THC products for sale.
Global Consortium, Inc., is building America’s First Cannabis Mall, which when completed will house Manufacturing, Distribution, Delivery, Retail, Testing, and Cultivation all under one 64,000 square foot building. The Mall will house the largest Manufacturing facility of THC and CBD Distillate and Edibles believed to be operational in the United States.
Global Consortium, Inc., in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg. FD.
This news release contains “forward-looking statements” as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, estimates of services and equipment markets, the release of corporate apps, growth of the platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.
Details of the Company’s business, finances, appointments, and agreements can be found as part of the Company’s continuous public disclosure on otcmarkets.com.
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