LOS ANGELES, April 16, 2014 /PRNewswire/ -- Primco
Management Inc. (OTCQB: PMCM), a medical marijuana real estate
management and multi-media company, today announced that the
Company has entered into an agreement with private land owners to
acquire two five acre parcels zoned for medical marijuana
cultivation in Snohomish County,
Washington, where the Company plans to build two 30,000
square foot production facilities. Primco has signed letters
of intent with Alon LLC and Lano LLC to manage the production and
sale of medical cannabis on the 2 parcels, pending the issuances of
their respective Tier 3 licenses. Terms of the management
agreements include terms of 99 years with Primco retaining 98% of
gross revenues.
"The acquisition of land and subsequent construction of at least
2 separate 30,000 foot facilities coupled with the acquisition of
Suzie Q's, cements our position in the Washington State market," stated David
Michery, CEO. "Although the Tier 3 licensing allows for the
production of recreational cannabis, we continue to stress the fact
that Primco's business plans calls for the production of medical
marijuana only and will continue to do so for the foreseeable
future. The Suzie Q's brand has represented the highest
quality medicine and our intention is to introduce additional
strains into the marketplace and to make our medicine available to
all patients in the state of Washington."
The Snohomish projects, once
completed, will provide for the cultivation of up to 5 tons of
medical marijuana on an annual basis.
"I am very pleased and excited to be working with such a
positive, enterprising and expedient management company," stated
Larry Nelson, President of Lano
LLC. "I am sure that this will be a very profitable
relationship for all involved. I am convinced that Primco's
foresight and innovative skills will be envied by many in the
industry for years to come."
Suzie Q's Update:
In further news, Primco announced that improvements on the Suzie
Q's dispensary have been completed in compliance with the
Washington State Liquor Board and
that traceability and security measures are now being
installed. Additions to the existing structure will allow for
increased horticulture, dispensary and caretaker space.
About Primco Management Inc.:
Through its wholly-owned subsidiaries, ESMG Inc., Top Sail
Productions and D & B Music, Inc., the Company operates as an
integrated entertainment company with divisions in music and film
production and distribution. Primco also operates in various
aspects of the real estate industry. (For additional information,
visit www.primcousa.com).
Disclaimer: The Company relies upon the Safe Harbor Laws of
1933, 1934 and 1995 for all public news releases. Statements, which
are not historical facts, are forward-looking statements. The
company, through its management, makes forward-looking public
statements concerning its expected future operations, performance
and other developments. Such forward-looking statements are
necessarily estimates reflecting the company's best judgment based
upon current information and involve a number of risks and
uncertainties, and there can be no assurance that other factors
will not affect the accuracy of such forward-looking statements. It
is impossible to identify all such factors. Factors which could
cause actual results to differ materially from those estimated by
the company include, but are not limited to, government regulation;
managing and maintaining growth; the effect of adverse publicity;
litigation; competition; and other factors which may be identified
from time to time in the company's public announcements.
Contact:
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David Michery,
CEO
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(562)
565-9967
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SOURCE Primco Management Inc.