$SIGO: NEWS~Cannabis Grower Sunset Island Group Receives Cultivation License
Jan 19, 2018
OTC Disclosure & News Service
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SAN CLEMENTE, Calif., Jan. 19, 2018 (GLOBE NEWSWIRE) -- –via OTC PR WIRE--SUNSET ISLAND GROUP, INC. (OTCQB:SIGO) announced today that the company has received its cultivation license.
CEO Valerie Baugher stated, "It has been interesting watching the process evolve as it pertains to legally growing cannabis in the state of California now that recreational marijuana is legal as of January 1, 2018. We've known for some time now that licensing and permitting would be a process that every grower would have to re-visit this month and I'm happy to report to our shareholders that it's not as complicated as we had initially thought."
Ms. Baugher went on to state, "Basically it comes down to three documents that each grower has to have on file. One is the cultivation license, two is the manufacturing license and three is the distribution permit. We are happy to report that as of today, we have received our cultivation license for adult and medicinal products and feel confident that the other two will be processed and in our hands within the next couple of weeks."
Ms. Baugher finished up with, "The approval of recreational marijuana should prove to be a huge benefit to us from a revenue standpoint. We're working on updated projections for 2018 and beyond. Currently, our entire team is in the process of cultivating two more 2,000 square foot bays over the next few days and with recent adjustments and modifications that we've made, we've been able to move from 480 plants per bay to approximately 1,000. Further retrofits should eventually allow us to grow 1,600 plants per bay with each harvest. We look forward to sharing more information with our shareholders in the coming weeks and will update you all once we have received the approved manufacturing license and the distribution permits."
Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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.
Contact: Valerie Baugher @ info@sunsetislandgroup.com or @ 424-239-6230
Copyright © 2018 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
http://www.otcmarkets.com/stock/SIGO/news/Can...08&b=y
Jan 19, 2018
OTC Disclosure & News Service
-
SAN CLEMENTE, Calif., Jan. 19, 2018 (GLOBE NEWSWIRE) -- –via OTC PR WIRE--SUNSET ISLAND GROUP, INC. (OTCQB:SIGO) announced today that the company has received its cultivation license.
CEO Valerie Baugher stated, "It has been interesting watching the process evolve as it pertains to legally growing cannabis in the state of California now that recreational marijuana is legal as of January 1, 2018. We've known for some time now that licensing and permitting would be a process that every grower would have to re-visit this month and I'm happy to report to our shareholders that it's not as complicated as we had initially thought."
Ms. Baugher went on to state, "Basically it comes down to three documents that each grower has to have on file. One is the cultivation license, two is the manufacturing license and three is the distribution permit. We are happy to report that as of today, we have received our cultivation license for adult and medicinal products and feel confident that the other two will be processed and in our hands within the next couple of weeks."
Ms. Baugher finished up with, "The approval of recreational marijuana should prove to be a huge benefit to us from a revenue standpoint. We're working on updated projections for 2018 and beyond. Currently, our entire team is in the process of cultivating two more 2,000 square foot bays over the next few days and with recent adjustments and modifications that we've made, we've been able to move from 480 plants per bay to approximately 1,000. Further retrofits should eventually allow us to grow 1,600 plants per bay with each harvest. We look forward to sharing more information with our shareholders in the coming weeks and will update you all once we have received the approved manufacturing license and the distribution permits."
Notice Regarding Forward-Looking 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. Actual results could differ from those projected in any forward-looking statements due to numerous factors. 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.
Contact: Valerie Baugher @ info@sunsetislandgroup.com or @ 424-239-6230
Copyright © 2018 GlobeNewswire. All Rights Reserved
The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.
http://www.otcmarkets.com/stock/SIGO/news/Can...08&b=y
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