MediSwipe, Inc. Executes Agreement to Purchase Additional Eighty Acres in Colorado for Second Managed Agricultural Facility
April 09 2014 - 9:00AM
Marketwired
MediSwipe, Inc. Executes Agreement to Purchase Additional Eighty
Acres in Colorado for Second Managed Agricultural Facility
LOS ANGELES,
CA--(Marketwired - April 09, 2014) - MediSwipe,
Inc. (www.MediSwipe.com) (OTCQB:
MWIP), a leader in Compassionate Care Technology and
indoor/outdoor agricultural solutions for the medicinal marijuana
industry, today announced that the Company has entered into an
agreement to purchase an additional eighty acres through its wholly
owned subsidiary Agritech Venture Holdings, Inc. for a second
managed cultivation facility in Colorado. The Company expects to
close on the property within thirty days, contingent upon
satisfaction regarding the water rights to the property, standard
due diligence and subject to the closing conditions.
The additional estimated 80 acres also located in Pueblo County,
Colorado will be planned as the Company's second managed facility,
bringing total acres and zoned agricultural property managed by
MediSwipe to approximately one-hundred and sixty acres through the
joint venture recently featured in the Wall Street Journal.
Pursuant to acquiring the new agricultural land purchase the
Company will sublease individual parcels of the additional 80 acre
managed and secure agricultural facility to fully-licensed and
compliant growers and dispensaries within the regulated medicinal
and recreational market within state of Colorado. The individual
parcels will consist of build to suit greenhouse technology and
security infrastructure such tenants.
"We have begun the process of executing leases on our first
managed facility, and due to the response we have received, we felt
it was in our best interest to move quickly on a second, and what
we feel is an extremely valuable parcel of land zoned for
agricultural use. Given the amount of water our first commercial
tenants expect to consume, we thought it prudent to seek out and
acquire other properties at present market rates with decreed water
rights. This new parcel of eighty acres holds a rare type of water
right known as a 'decreed non-tributary well.' With this new right,
we have access to substantial amounts of water which we will lease
to licensed producers on our properties throughout the
Arkansas Valley. We look forward to be able to conclude the
purchase and bring this property into the rental market to meet the
demand," stated B. Michael Friedman, CEO of MediSwipe.
Finding substantial water to grow commercially in Colorado is a
major challenge. Colorado's distance from the Pacific Ocean,
or any other major source of water, causes it to be arid. With
the mountain peaks west of the most populated cities any
precipitation that makes it across Arizona and Utah tends to get
caught up in the 14,000 foot peaks leaving the cities high and
dry. The populated areas of Colorado are mainly classified as
high desert plateaus, so it should come as no surprise that finding
water is a challenge. Even in computer controlled greenhouse
conditions, the water consumption can be enormous.
"To meet the anticipated needs of commercial dispensary
producers we will continue to seek out other non-tributary sources
of commercial and municipal water and properties in and around the
major river basins of Colorado. With this potential second property
acquisition, we believe we will then manage and control the largest
amount of property and zoned land within the medical and
recreational marijuana space. We believe this strategy, once
infrastructure is in place, will bring additional value to our
shareholders, to what appears to be an undervalued market
capitalization within the sector," further stated Friedman.
About MediSwipe, Inc.
MediSwipe, Inc. (www.MediSwipe.com) provides innovative patient
solutions and is the leader in Compassionate Care Technology for
the medicinal marijuana industry. MediSwipe provides real estate
management and health and wellness product lines including
beverages, vaporizers and accessories. MediSwipe does not directly
grow, harvest, or 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.
FORWARD-LOOKING DISCLAIMER:
This press release may contain certain forward-looking
statements and information, as defined within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934, and is subject to the Safe Harbor
created by those sections. This material contains statements about
expected future events and/or financial results that are
forward-looking in nature and subject to risks and uncertainties.
Such forward-looking statements by definition involve risks,
uncertainties and other factors, which may cause the actual
results, performance or achievements of MediSwipe, Inc. to be
materially different from the statements made herein.
Contact: MediSwipe,
Inc. 561.514.9042www.MediSwipe.cominfo@mediSwipe.com
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