Riverside, CA -- March 16, 2017 -- InvestorsHub NewsWire --
CaliPharms, Inc. (OTCPink:KGET),
a Company operating in the California Medicinal Cannabis industry,
publicly traded under its former name “Kleangas Energy
Technologies, Inc.” is pleased to announce it has signed a
non-binding term sheet with Pacific Cannabis Growers, a Humboldt
County California Medical Cannabis Farm. (www.pcgrowers.com)
Joshua Clark, President of Pacific Cannabis Growers,
stated "Pacific Cannabis Growers is very excited about becoming a
part of CaliPharms. The benefits of forming this business
relationship are outstanding; allowing us to focus on expansion
while retaining crop quality. Calipharms' longterm goals
coincide exactly with ours. We are looking for sustained growth,
new product development, and to establish our cannabis brands in
the market. We couldn't be more pleased to be joining this rapidly
growing team of cannabis professionals."
CaliPharms CEO Bo Linton stated, “This is the second medical
cannabis farm in Northern California that CaliPharms has
successfully negotiated to purchase. CaliPharms purchased Country
Junction Farms as a 51% owned subsidiary, and we now expect to
complete a similar type acquisition for Pacific Cannabis Growers.”
Linton continued, “Our acquisition model is built for success as we
do not have to pay any up front cash for the acquisition.
CaliPharms will use its 51% ownership to pay towards the purchase
price and supplementing the payments with preferred stock. This
model makes the acquisition candidate and CaliPharms true partners,
each depending on the other for success. It is a mutually
beneficial relationship that builds value for the shareholder. We
also structured the purchase price to fluctuate based on actual
profits calculated at the end of 12 months with a unilateral unwind
provision good for 1 year. The total buyout if completed will be
over a 60 month period.”
CaliPharms long term business plan includes acquiring numerous
cannabis production facilities and product lines. This will allow
us to supply our other business ventures with the raw materials
needed to make award winning cannabis products, and to create a new
market suppling other canna-ventures with the raw material they
need to produce their products. Securing CaliPharms cannabis
supply/production capability is our top priority. This will help
establish CaliPharms as an industry leader in the near
future.
Pacific Cannabis Grower's permit type (Mixed-Light) will allow
for multiple harvest year round, in fully automated greenhouses.
Giving this acquisition additional value for Calipharms.
2017 Forward Looking Income Projections for the Farm
(The following are projections provided by the acquisition
candidate. CaliPharms does not guarantee the projected results if
the acquisition is completed.)
The farm will be operating a 10,000 sq ft “mixed light”
commercial cannabis cultivation permit. *Mixed light is growing in
greenhouse with artificial light supplementation this allows for
multiple harvests through the year.
1. Projected Primary Harvest: April -
October
A growing method of centering each plant in a 6x6 area will
amount to a total of 228 plants with an average yield of 3.5lbs per
plant of flower and 3.5 of trim, with the right genetics.
*Current wholesale price per lb of flower= $1250.00
*Current wholesale price per lb of trim= $50.00
228 x 3.5 lbs = 973 lbs
973 lbs x $1250.00*Wholesale flower price= 1,216,250.00
1,216,250.00
+
973 lbs x 50.00*Wholesale Trim Price= 48,650
0,048,650.00
=
Estimated Primary Harvest Fair Market Amount:
1,264,900.00
2. Projected Secondary Harvest: Nov - March
2017 is the first growing year on this new site, typically there
would be 3 harvests annually, but for this initial year buildout of
greenhouses after the primary harvest will limit us to only one
additional harvest. Secondary harvest typically are about 60% less
total harvest weight than a primary harvest. Smaller plants are
utilized but the canopy sq ft used remains the same. *Currently off
season fresh medical marijuana demands a premium price with an
additional $250.00 added per lb at the wholesale level.
973 lbs - 60% = 389.2 lbs of secondary harvest flowers,
and 389.2 lbs of trim.
389.2 lbs x 1500.00*Premium Off season price=583,800.00
583,800.00
+
389.2 lbs x 50.00*Wholesale Trim Price= 19,460.00
19,460.00
Estimated Secondary Harvest Fair Market Amount:
603,260.00
3. Projected Primary and Secondary Harvest Totals:
2017 total estimated primary harvest value =
1,264,900.00
+
2017 total estimates secondary harvest value =
603,260.00
Estimated total 2017 Gross Harvest/Income value =
1,868,160.00
For up to date information on the company please follow us @
facebook.com/CaliPharms
twitter.com/CaliPharms
About CaliPharms, Inc.
CaliPharms Inc., trading under the symbol (KGET)
which trades under its former name “Kleangas Energy Technologies,
Inc.” is a medical marijuana-cannabis business. The Company
operates through its 51% owned subsidiary County Junction Farms,
Inc. within the State of California. CaliPharms is a wholesale
distributor of THC and CBD concentrate powders. The second tier of
development for the company will be to expand into other sectors
that support the legalized cannabis industry. The company intends
to expand its operations as the laws for each individual State
change and allow.
About Country Junction Farms, Inc.
Founded in 2010, Country Junction Farms is a fully permitted
cultivator of medical cannabis within the State of California.
Safe Harbor Statement:
Safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as CaliPharms or KGET
or its management "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates" or other words or phrases of similar
import. Similarly, statements herein that describe the Company's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in
forward-looking statements. Investment into a microcap company is a
high risk investment and it should only be considered if you are
able to afford a total loss of the investment. Laws and Regulations
of Marijuana are currently in direct contradiction between
California and Federal Law and these factors should be a part of
your consideration when making an investment into KGET.
Company Contact:
CaliPharms, Inc. (KGET)
www.CaliPharmsInc.com
facebook.com/CaliPharms
twitter.com/CaliPharms
Telephone 1-949-800-6645
Email: info@CaliPharmsInc.com
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