$CANB Can B Corp. Secures Lease for 300,000 Square
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Posted On: 08/25/2021 12:22:38 PM
$CANB Can B Corp. Secures Lease for 300,000 Square Foot Facility in McMinnville, Tennessee
https://www.accesswire.com/661200/can-b-corp-...-tennessee
HICKSVILLE, NY / ACCESSWIRE / August 25, 2021 / Can B Corp. (OTCQB:CANB) ('Can B' or the 'Company'), a diversified health and wellness company specializing in the development, production, and sale of products containing hemp-derived cannabinoids, is pleased to announce it has acquired a lease for a 300,000 square foot facility to support the operations of its recently closed acquisition of assets from Music City Botanicals, in McMinnville, Tennessee. Can B has also acquired the right of first refusal and an option to outright purchase the facility during the term of the lease.
The facility is located halfway between Nashville and Chattanooga in central Tennessee, approximately 75 miles from each city, and a former Data Center for Litewire Data Company and police headquarters for the county of Warren, Tennessee.
Currently, the facility has two sub-tenants utilizing under 20% of the building, including hemp storage and hemp drying. It also encompasses TN Botanicals' R&D department, isomer lab, and extraction facilities. Additionally, the property is already equipped with a rail spur to its loading doors. The facility has backup generators at one-megawatt capacity.
Marco Alfonsi, Can B's Chief Executive Officer, commented, 'Securing this lease to be able operate from this facility is a huge win for our Company. Its location, footprint, and existing infrastructure will accelerate our capabilities and enable us to become among the leading producers of hemp-based cannabinoid products in America.'
The addition of assets recently acquired by the Company from Music City Botanicals within this facility adds additional expansion opportunity extraction and isomer lab production with such products a Delta-10, CBG, CBN, and CBDA. New retail products of the Company will include pharmaceutical-grade CBD and related manufactured goods. In-house labeling and packaging now available to the Company will create a chain of custody and compliance process that is uncommon in the industry.
https://www.accesswire.com/661200/can-b-corp-...-tennessee
HICKSVILLE, NY / ACCESSWIRE / August 25, 2021 / Can B Corp. (OTCQB:CANB) ('Can B' or the 'Company'), a diversified health and wellness company specializing in the development, production, and sale of products containing hemp-derived cannabinoids, is pleased to announce it has acquired a lease for a 300,000 square foot facility to support the operations of its recently closed acquisition of assets from Music City Botanicals, in McMinnville, Tennessee. Can B has also acquired the right of first refusal and an option to outright purchase the facility during the term of the lease.
The facility is located halfway between Nashville and Chattanooga in central Tennessee, approximately 75 miles from each city, and a former Data Center for Litewire Data Company and police headquarters for the county of Warren, Tennessee.
Currently, the facility has two sub-tenants utilizing under 20% of the building, including hemp storage and hemp drying. It also encompasses TN Botanicals' R&D department, isomer lab, and extraction facilities. Additionally, the property is already equipped with a rail spur to its loading doors. The facility has backup generators at one-megawatt capacity.
Marco Alfonsi, Can B's Chief Executive Officer, commented, 'Securing this lease to be able operate from this facility is a huge win for our Company. Its location, footprint, and existing infrastructure will accelerate our capabilities and enable us to become among the leading producers of hemp-based cannabinoid products in America.'
The addition of assets recently acquired by the Company from Music City Botanicals within this facility adds additional expansion opportunity extraction and isomer lab production with such products a Delta-10, CBG, CBN, and CBDA. New retail products of the Company will include pharmaceutical-grade CBD and related manufactured goods. In-house labeling and packaging now available to the Company will create a chain of custody and compliance process that is uncommon in the industry.
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