Indie Growers Association Finalizes Agreement With River Ridge Sunshine Farms LLC.
June 30 2014 - 10:35AM
Marketwired
Indie Growers Association Finalizes Agreement With River Ridge
Sunshine Farms LLC.
CARSON CITY, NEVADA--(Marketwired - Jun 30, 2014) - Indie
Growers Association (OTCQB:UPOT) is pleased to announce that it has
completed its due diligence and closed the transaction with Ricardo
Esparza for the acquisition of River Ridge Sunshine Farms LLC.
Under the terms of the agreement, Esparza transferred his 100%
ownership in River Ridge Sunshine Farms LLC in exchange for
62,000,000 restricted shares of the common stock of Indie Growers
Association.
River Ridge Sunshine Farms LLC holds a 10 year, renewable lease
on an agricultural property in Prosser, Washington. Currently
construction is underway on approximately 1,412 square feet of
warehouse space, 1,536 square feet of greenhouses, and twenty-one
thousand square feet of outdoor growing area. The property is
subleased to Cannabliss Organic Gardens, a licensed medical
marijuana grower who expects to be approved for its Tier 3 license
in time for the summer/fall outdoor growing season. Under the terms
of the sublease, River Ridge Sunshine Farms LLC will receive
sufficient rental income to expand construction onto adjacent
properties. River Ridge Sunshine Farms LLC intends to sublease
these adjacent properties to other Tier 3 licensees.
"Indie Growers Association has been actively searching for real,
attainable and diversified projects to continue to bring our
shareholders value to their portfolio", stated Robert Coleridge,
Director of Indie Growers Association. "We're extremely excited
about the growth and income potential with the company's agreement
with River Ridge Sunshine Farms LLC. We look forward to meeting the
demand for agricultural land to fulfill the needs of growers for
turnkey greenhouse facilities."
"As the new partner in this business venture, I am confident
that River Ridge Sunshine Farms will help Indie Growers Association
move to the forefront of the cannabis industry. There are 13
adjacent lots River Ridge Sunshine Farms has the option to lease
and build on. This will give many more Tier 3 growers the
opportunity to cultivate their crops in a safe and secure location.
The earning potential of these leases will make this company one of
the leaders and pioneers in this new era of agriculture
enterprises", stated Ricardo Esparza.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements that
involve risks and uncertainties, including the Company's beliefs
about its business prospects and future results of operations. Some
factors that could cause actual results to differ materially
include economic and operational risks, changes in anticipated
earnings, continuation of current contracts, and other factors
detailed in the Company's filings with the Securities and Exchange
Commission, including its most recent Forms 10-K and 10-Q. The
Company forecasts provided above are dynamic and therefore refer
only to this release date. The Company does not undertake to update
any forecasts that it may make available to the investing public.
This news release has been issued by the Company as required by law
and per the Company's listing and reporting obligations.
Indie Growers Association Inc.
Robert Coleridge, President
Indie Growers Association Inc.1 (888) 648 04881 (206) 400
7569indiegrowersassocation@indiegrowersassociation.com