RIVERSIDE, CA--(Marketwired - Mar 16, 2017) - CaliPharms, Inc. (
CaliPharms, Inc. (
Joshua Clark, President of Pacific Cannabis Growers, stated, "Pacific Cannabis Growers is very excited about becoming a part of CaliPharms. The benefits of forming this business relationship are outstanding; allowing us to focus on expansion while retaining crop quality. CaliPharms' long-term goals coincide exactly with ours. We are looking for sustained growth, new product development, and to establish our cannabis brands in the market. We couldn't be more pleased to be joining this rapidly growing team of cannabis professionals."
CaliPharms CEO Bo Linton stated, "This is the second medical cannabis farm in Northern California that CaliPharms has successfully negotiated to purchase. CaliPharms purchased Country Junction Farms as a 51% owned subsidiary, and we now expect to complete a similar type acquisition for Pacific Cannabis Growers." Linton continued, "Our acquisition model is built for success as we do not have to pay any upfront cash for the acquisition. CaliPharms will use its 51% ownership to pay towards the purchase price and supplementing the payments with preferred stock. This model makes the acquisition candidate and CaliPharms true partners, each depending on the other for success. It is a mutually beneficial relationship that builds value for the shareholder. We also structured the purchase price to fluctuate based on actual profits calculated at the end of 12 months with a unilateral unwind provision good for 1 year. The total buyout if completed will be over a 60 month period."
CaliPharms' long-term business plan includes acquiring numerous cannabis production facilities and product lines. This will allow us to supply our other business ventures with the raw materials needed to make award winning cannabis products, and to create a new market suppling other canna-ventures with the raw material they need to produce their products. Securing CaliPharms cannabis supply/production capability is our top priority. This will help establish CaliPharms as an industry leader in the near future.
Pacific Cannabis Growers' permit type (Mixed-Light) will allow for multiple harvest year round, in fully automated greenhouses, giving this acquisition additional value for CaliPharms.
2017 Forward Looking Income Projections for the Farm (The following are projections provided by the acquisition candidate. CaliPharms does not guarantee the projected results if the acquisition is completed.)
The farm will be operating a 10,000 sq ft "mixed light" commercial cannabis cultivation permit. *Mixed light is growing in greenhouse with artificial light supplementation this allows for multiple harvests through the year.
1. Projected Primary Harvest: April - October
A growing method of centering each plant in a 6x6 area will amount to a total of 228 plants with an average yield of 3.5lbs per plant of flower and 3.5 of trim, with the right genetics. *Current wholesale price per lb of flower= $1250.00 *Current wholesale price per lb of trim= $50.00
228 x 3.5 lbs = 973 lbs
| 973 lbs x $1250.00*Wholesale flower price= 1,216,250.00 | 1,216,250.00 | |
| + | ||
| 973 lbs x 50.00*Wholesale Trim Price= 48,650 | 0,048,650.00 | |
| = | ||
| Estimated Primary Harvest Fair Market Amount: | 1,264,900.00 | |
2. Projected Secondary Harvest: Nov - March
2017 is the first growing year on this new site, typically there would be 3 harvests annually, but for this initial year buildout of greenhouses after the primary harvest will limit us to only one additional harvest. Secondary harvest typically are about 60% less total harvest weight than a primary harvest. Smaller plants are utilized but the canopy sq ft used remains the same. *Currently off season fresh medical marijuana demands a premium price with an additional $250.00 added per lb at the wholesale level.
973 lbs - 60% = 389.2 lbs of secondary harvest flowers, and 389.2 lbs of trim.
| 389.2 lbs x 1500.00*Premium Off season price= 583,800.00 | 583,800.00 | |
| + | ||
| 389.2 lbs x 50.00*Wholesale Trim Price= 19,460.00 | 19,460.00 | |
| Estimated Secondary Harvest Fair Market Amount: | 603,260.00 | |
3. Projected Primary and Secondary Harvest Totals:
| 2017 total estimated primary harvest value = | 1,264,900.00 | |
| + | ||
| 2017 total estimates secondary harvest value = | 603,260.00 | |
| Estimated total 2017 Gross Harvest/Income value = | 1,868,160.00 | |
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About CaliPharms, Inc.
CaliPharms, Inc., trading under the symbol (KGET) which trades under its former name "Kleangas Energy Technologies, Inc." is a medical marijuana-cannabis business. The Company operates through its 51% owned subsidiary County Junction Farms, Inc. within the State of California. CaliPharms is a wholesale distributor of THC and CBD concentrate powders. The second tier of development for the company will be to expand into other sectors that support the legalized cannabis industry. The company intends to expand its operations as the laws for each individual State change and allow.
About Country Junction Farms, Inc.
Founded in 2010, Country Junction Farms is a fully permitted cultivator of medical cannabis within the State of California.
Safe Harbor Statement:
Safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as CaliPharms or KGET or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements. Investment into a microcap company is a high risk investment and it should only be considered if you are able to afford a total loss of the investment. Laws and Regulations of Marijuana are currently in direct contradiction between California and Federal Law and these factors should be a part of your consideration when making an investment into KGET.
Company Contact: CaliPharms, Inc. (KGET) www.CaliPharmsInc.com facebook.com/CaliPharms twitter.com/CaliPharms Telephone 1-949-800-6645 Email: info@CaliPharmsInc.com
