$ZAAG announced the successful completion of its second pilot business venture located at the Louis Bull Cree Nation in central Alberta, Canada. The Louis Bull Cree Nation administers a land area of 20 square miles with a population of approximately 2400 people. It is the only First Nations government in Canada that occupies an official position at the United Nations.
As stated through previous news releases, Econic supplies and operates indoor farming modules to grow and extract Cannabis products for domestic and export markets. The Louis Bull venture is the second $100,000 capital project totally funded by Econic with harvest of the first crop expected at the end of February, 2021. Based on field observations by the growers, the revenues from this first crop from a single grow pod are expected to match the capital investment of $100,000. As a result, all parties to the business venture are now making plans to secure and install a total of 100 such grow pods at this location along with a stand-alone extraction plant. Further announcements will be made as details become final.
"We share the same excitement as our First Nations colleagues at Samson Cree Nation -that these partnerships with Econic will result in a sustained economic boom to First Nations communities," said Jim Bull, spokesperson for the Louis Bull business partnership. "For centuries our people have traditionally used these products as medicine and we are excited that this business model validates important sovereign traditions while also creating lucrative employment for our youth. We intend to build a business whose success will be measured not by how much capital we attract to build the business but rather by how much we can re-invest our profits in new communities wanting to duplicate our success."