RIVERSIDE, CA -- CaliPharms, Inc. (
In 2017 Country Junction Farms is projecting to grow about 4,500 pounds of flower and 4,700 pounds of trim. The trim is to be sold for use in cannabis oil concentrate production. The projected revenue is $4,275,000 from the flower and $337,500 from the trim. These projections are based on the current mean average of prices and subject to change throughout the year.
The total purchase price for the farm as per the stock purchase agreement is $1,750,000 USD in the form of a promissory note. The promissory note is to be deducted from KGET's 51% ownership and secured by 175 shares in Preferred C Series Stock Issued as security for the Promissory Note until the note is paid in full. Preferred C Shares have a market value when converted to common of $10,000 per share. This acquisition structure affords CaliPharms the opportunity to pay for the acquisition with revenue and reduces dilution to its common stock. The agreement has a safety clause that will allow CaliPharms to revert to a management agreement if at anytime it becomes federally illegal to own a company that handles marijuana products.
