The NOW Corporation To Raise Up To $5,000,000
Post# of 37
Posted On: 02/08/2016 4:04:20 AM
The NOW Corporation To Raise Up To $5,000,000
PORTLAND, OR. JANUARY 7, 2016 – THE NOW CORPORATION (NWPN.PK) issues a clarification of its news release dated December 16, 2015 as follows.
The company has signed an Equity Purchase Agreement and it is with Red River Ventures, LLC, a Wyoming limited liability company. As part of the terms, The NOW Corporation can receive up to $5,000,000 dependant on market conditions. As funds are received NOW intends to proceed to develop its first Colorado-based hydroponic facility.
The capital raise is subject to the company filing an S-1 Registration Statement with the Security and Exchange Commission, which is expected to occur within the next 75 days. On commencement of the planned capital raise NOW’s management team expects to move forward with development of its first hydroponic facility in the first half of 2016.
The facility will be used to grow industrial hemp in a controlled environment to ensure ideal growth conditions and maximum number of harvests throughout the year. Each acre is estimated to be able to grow 28,000 hemp plants with an expected 5 grams of CBD’s per plant at an estimated minimum market value of $25 per gram and with 3.5 harvests per year (28,000 plants x 5 grams @ $25 x 3.5 harvests) potentially representing some $12,000,000 in projected gross revenues to the company. The facility will be designed for crop expansion.
The NOW Corporation is also discussing joint ventures with different groups to develop hemp growing on its property. While these discussions are still in the early stage if and when one or more are realized they will complement the program envisioned by the capital raise arrangement with Red River Ventures.
The NOW Corporation’s core mission is to profitably utilize its properties where legalized growing of industrial hemp is allowed. This will take place during the inevitable transition to new country and States laws allowing the company to benefit in the coming expanded industrial hemp opportunities. For more information about The NOW Corporation, please visit us at:www.thenowcorporation.net
PORTLAND, OR. JANUARY 7, 2016 – THE NOW CORPORATION (NWPN.PK) issues a clarification of its news release dated December 16, 2015 as follows.
The company has signed an Equity Purchase Agreement and it is with Red River Ventures, LLC, a Wyoming limited liability company. As part of the terms, The NOW Corporation can receive up to $5,000,000 dependant on market conditions. As funds are received NOW intends to proceed to develop its first Colorado-based hydroponic facility.
The capital raise is subject to the company filing an S-1 Registration Statement with the Security and Exchange Commission, which is expected to occur within the next 75 days. On commencement of the planned capital raise NOW’s management team expects to move forward with development of its first hydroponic facility in the first half of 2016.
The facility will be used to grow industrial hemp in a controlled environment to ensure ideal growth conditions and maximum number of harvests throughout the year. Each acre is estimated to be able to grow 28,000 hemp plants with an expected 5 grams of CBD’s per plant at an estimated minimum market value of $25 per gram and with 3.5 harvests per year (28,000 plants x 5 grams @ $25 x 3.5 harvests) potentially representing some $12,000,000 in projected gross revenues to the company. The facility will be designed for crop expansion.
The NOW Corporation is also discussing joint ventures with different groups to develop hemp growing on its property. While these discussions are still in the early stage if and when one or more are realized they will complement the program envisioned by the capital raise arrangement with Red River Ventures.
The NOW Corporation’s core mission is to profitably utilize its properties where legalized growing of industrial hemp is allowed. This will take place during the inevitable transition to new country and States laws allowing the company to benefit in the coming expanded industrial hemp opportunities. For more information about The NOW Corporation, please visit us at:www.thenowcorporation.net
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