Land of Lakes, Florida, April 13, 2020) – – Eyecity.com Inc. (OTC Pink: ICTY) (“ICTY”), a holding company with projects in the cannabis, hospitality, commercial and residential development industries both in the United States and Internationally; and CGrowth Capital, Inc. (OTC Pink: CGRA) (“CGRA”), an alternative asset holding company with active cannabis real estate assets, which is also actively engaged in evaluating opportunities in the evolving hemp and additional legalized cannabis sectors, are pleased to announce that company execs from each issuer have met to determine steps forward on partnership initiatives to fund and develop a cannabis retail and industrial epicenter to be located on a 47-acre complex in Chewelah, Washington.
The property includes:
- 47 total acres
- An approved SEPA for further expansion
- The property can support over 100,000 sq ft of grow canopy operations
- Retail operation ready to move in when Tenant Improvements complete
- 90,000 sq ft of new buildings approved
- Plans for 8,000 sq ft commercial kitchen ready for submission
Recently, CGRA has taken steps to reorganized their rights to the Chewelah property into a wholly owned subsidiary, Nutrilife Health and Wellness, Inc for expanded opportunities and purposes including a potential spinout to be owned jointly by CGRA and ICTY and their shareholders upon conditions met by each party.
Currently, CGRA is the working investment partner on the property with its executives having the rights to become a 50% or more equity partner in the actual business operation (based on current Washington state laws) and has agreed to leverage ICTY capabilities to partner on the venture(s). Each company will be responsible for funding the growth initiatives against a sliding scale of ownership in what execs mutually agree could be a windfall for investors as the full potential of the property is realized.
ICTY and CGRA CEOs Brad Wilson and Bill Wright, respectively, have met on initiatives to move forward on this project together which, each agrees, holds tremendous potential as a cannabis hotbed for retail operations, grow house facilities, and industry verticals.
Follow ICTY on Twitter at https://twitter.com/CannaDevCo
Follow CGRA on Twitter at https://twitter.com/CGRAOTC
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company’s current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company’s business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
ICTY Contact: Bradley Wilson, President
CGRA Contact: Bill Wright, CEO