Click here to close now.



Welcome!

News Feed Item

Mountain High Completes Milestone Master Property Agreement for Acquisition of Isabelle, Madison, and Pueblo Marijuana Properties in Colorado

DENVER, CO -- (Marketwired) -- 05/05/14 -- Mountain High Acquisitions Corp. (OTCQB: MYHI) ("Mountain High" or the "Company"), a strategic real estate holding company whose primary focus is the acquisition and development of commercial properties in the marijuana sector, is pleased to announce that Canna-Life Corp., a wholly-owned subsidiary of the Company, has completed the definitive Master Property Purchase and Sale Agreement (the "Agreement") for the acquisition of three properties and improvements thereon located in: (i) Lafayette, Boulder County, Colorado, referred to as the "Isabelle Property," (ii) Avondale, Pueblo County, Colorado, referred to as the "Pueblo Property," and (iii) Denver, Denver County, Colorado, referred to as the "Madison St. Property."

"We are extremely pleased to have progressed to complete this milestone Agreement to acquire the highly sought after Isabelle, Pueblo, and Madison Street properties in Colorado," stated Mr. Alan Smith, President of Mountain High Acquisitions Corp. "With this first phase of our property acquisition strategy now secured, we will move forward with our plans to further develop and maximize potential revenue streams from each of our portfolio properties. Additionally, the Company will continue review potential properties in the cannabis sector for future acquisition."

The Isabelle Property consists of nine (9) acres of property, improvements, and other assets located near Boulder, Colorado. Since October 2012, the primary tenant at the Isabelle Property has been one of the largest greenhouse marijuana grow facilities in the State of Colorado, with a total of 42,000 sq./ft. under roof (approx. 1 acre). The current operation at the Isabelle Property can produce in excess of 5,000 lbs. of up to 50 specific strains of marijuana for medical use over approximately 10 separate harvests. Mountain High expects to generate in excess of $2.5 million in net annualized revenue from the Isabelle Property in its current configuration without significant leasehold improvements or expansion, subject to terms and conditions of the agreement. In addition to lease revenues from the Isabelle Property, the Company anticipates generating additional complementary revenue streams related to its position as landlord and primary services provider.

Mr. Smith concluded, "The Isabelle Property is without question one of the best known established marijuana business locations in Colorado, but we are equally excited about the acquisition and revenue potential of the Pueblo and Madison St. properties. With this in mind, we have already taken steps to develop detailed build out strategies for each property and look forward to starting to work with our partners to execute these plans."

The Madison Property, located in Denver, Colorado, is an ideally located 28,000 sq./ft. highly-reinforced building that was previously used for storage of fracking sand and grain. Now zoned for commercial marijuana cultivation, Mountain High intends to fully develop the Madison Property to house up to 200 specialized grow "Pods" designed to be leased to licensed growers for highly specialized medical marijuana cultivation. There are presently no facilities or growing operations on the Madison Property. At full capacity, 200 pods are estimated to represent approximately $8.4 million in annually lease revenues at current market rates.

The Pueblo Property, located at Avondale, Colorado, is 90 acres of raw land surrounded by a former U.S. Army ammunition storage and supply facility and now zoned and approved to become one of the largest single locations for commercial marijuana cultivation in the State. There are presently no facilities or growing operations on the land. Once the required infrastructure of roads, electrical, and water hookups is in place, the Company intends to develop the land into 10 or more distinctive 5 acre plots, collectively comprising a "Cannabis Campus." Each five-acre plot will provide the licensed grower with access to all required commercial growing facilities, including greenhouses, hydroponics, laboratories, kitchens, and outdoors grow operations.

About Mountain High Acquisitions Corp. (MYHI)

Mountain High Acquisitions Corp. is a strategic real estate holding company whose primary focus is the acquisition and development of commercial properties to be leased and utilized by the marijuana industry. Mountain High's current portfolio includes three Colorado properties zoned for commercial marijuana cultivation: Isabelle, Madison, and Pueblo.

Disclaimer/Safe Harbor: This Mountain High Acquisitions Corp. news release contains forward-looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. Among others, these risks include failure to meet schedule or performance requirements of the Company's contracts, the Company's ability to raise sufficient development and working capital, the Company's liquidity position, the Company's ability to obtain new contracts, the emergence of competitors with greater financial resources and the impact of competitive pricing. In the light of these uncertainties, the forward-looking events referred to in this release might not occur as planned or at all. The Company does not and will not grow, harvest, distribute, or sell cannabis or any substances that violate United States law or the Controlled Substances Act, nor does it intend to do so in the future.

Investor/Media Contact:

Mountain High Acquisitions Corp.
Investor Relations
(844) 686-0420 (Toll-free)
E-mail: Email Contact
Website: www.mountainhighac.com

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
SYS-CON Events announced today that Pythian, a global IT services company specializing in helping companies adopt disruptive technologies to optimize revenue-generating systems, has been named “Bronze Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2015 at the Javits Center in New York, New York. Founded in 1997, Pythian is a global IT services company that helps companies compete by adopting disruptive technologies such as cloud, Big Data, advanced analytics, and DevO...
Companies can harness IoT and predictive analytics to sustain business continuity; predict and manage site performance during emergencies; minimize expensive reactive maintenance; and forecast equipment and maintenance budgets and expenditures. Providing cost-effective, uninterrupted service is challenging, particularly for organizations with geographically dispersed operations.
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Avere delivers a more modern architectural approach to storage that doesn’t require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbuilding of data centers ...
As someone who has been dedicated to automation and Application Release Automation (ARA) technology for almost six years now, one of the most common questions I get asked regards Platform-as-a-Service (PaaS). Specifically, people want to know whether release automation is still needed when a PaaS is in place, and why. Isn't that what a PaaS provides? A solution to the deployment and runtime challenges of an application? Why would anyone using a PaaS then need an automation engine with workflow ...
Recognizing the need to identify and validate information security professionals’ competency in securing cloud services, the two leading membership organizations focused on cloud and information security, the Cloud Security Alliance (CSA) and (ISC)^2, joined together to develop an international cloud security credential that reflects the most current and comprehensive best practices for securing and optimizing cloud computing environments.
With the Apple Watch making its way onto wrists all over the world, it’s only a matter of time before it becomes a staple in the workplace. In fact, Forrester reported that 68 percent of technology and business decision-makers characterize wearables as a top priority for 2015. Recognizing their business value early on, FinancialForce.com was the first to bring ERP to wearables, helping streamline communication across front and back office functions. In his session at @ThingsExpo, Kevin Roberts...
As enterprises work to take advantage of Big Data technologies, they frequently become distracted by product-level decisions. In most new Big Data builds this approach is completely counter-productive: it presupposes tools that may not be a fit for development teams, forces IT to take on the burden of evaluating and maintaining unfamiliar technology, and represents a major up-front expense. In his session at @BigDataExpo at @ThingsExpo, Andrew Warfield, CTO and Co-Founder of Coho Data, will dis...
SYS-CON Events announced today that iDevices®, the preeminent brand in the connected home industry, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. iDevices, the preeminent brand in the connected home industry, has a growing line of HomeKit-enabled products available at the largest retailers worldwide. Through the “Designed with iDevices” co-development program and its custom-built IoT Cloud Infrastruc...
Sensors and effectors of IoT are solving problems in new ways, but small businesses have been slow to join the quantified world. They’ll need information from IoT using applications as varied as the businesses themselves. In his session at @ThingsExpo, Roger Meike, Distinguished Engineer, Director of Technology Innovation at Intuit, showed how IoT manufacturers can use open standards, public APIs and custom apps to enable the Quantified Small Business. He used a Raspberry Pi to connect sensors...
Eighty percent of a data scientist’s time is spent gathering and cleaning up data, and 80% of all data is unstructured and almost never analyzed. Cognitive computing, in combination with Big Data, is changing the equation by creating data reservoirs and using natural language processing to enable analysis of unstructured data sources. This is impacting every aspect of the analytics profession from how data is mined (and by whom) to how it is delivered. This is not some futuristic vision: it's ha...
Silver Spring Networks, Inc. (NYSE: SSNI) extended its Internet of Things technology platform with performance enhancements to Gen5 – its fifth generation critical infrastructure networking platform. Already delivering nearly 23 million devices on five continents as one of the leading networking providers in the market, Silver Spring announced it is doubling the maximum speed of its Gen5 network to up to 2.4 Mbps, increasing computational performance by 10x, supporting simultaneous mesh communic...
Advances in technology and ubiquitous connectivity have made the utilization of a dispersed workforce more common. Whether that remote team is located across the street or country, management styles/ approaches will have to be adjusted to accommodate this new dynamic. In his session at 17th Cloud Expo, Sagi Brody, Chief Technology Officer at Webair Internet Development Inc., focused on the challenges of managing remote teams, providing real-world examples that demonstrate what works and what do...
CIOs and those charged with running IT Operations are challenged to deliver secure, audited, and reliable compute environments for the applications and data for the business. Behind the scenes these tasks are often accomplished by following onerous time-consuming processes and often the management of these environments and processes will be outsourced to multiple IT service providers. In addition, the division of work is often siloed into traditional "towers" that are not well integrated for cro...
The principles behind DevOps are not new - for decades people have been automating system administration and decreasing the time to deploy apps and perform other management tasks. However, only recently did we see the tools and the will necessary to share the benefits and power of automation with a wider circle of people. In his session at DevOps Summit, Bernard Sanders, Chief Technology Officer at CloudBolt Software, explored the latest tools including Puppet, Chef, Docker, and CMPs needed to...
Let’s face it, embracing new storage technologies, capabilities and upgrading to new hardware often adds complexity and increases costs. In his session at 18th Cloud Expo, Seth Oxenhorn, Vice President of Business Development & Alliances at FalconStor, will discuss how a truly heterogeneous software-defined storage approach can add value to legacy platforms and heterogeneous environments. The result reduces complexity, significantly lowers cost, and provides IT organizations with improved effi...