Cannabis Grower Sunset Island Group Initiates Major Expansion
SAN CLEMENTE, CA -- September 6, 2017 -- InvestorsHub NewsWire -- SUNSET ISLAND GROUP, INC. (OTCQB: SIGO) announced today that the company has officially begun expansion of their cannabis grow space.
CEO T.J. Magallanes stated, "As phase one of our expansion plans, we have announced our intention to ramp up to a minimum of 152,000 square feet of greenhouse space and there’s still potential to increase well beyond that number. Effective immediately, a new 6,000 square feet of our expansion square footage is being built out and 100% of this portion of the expansion will be grow space. The MAPAL Agro equipment and supplies are being ordered and set up and clones will be fully planted and ready for harvest approximately 90 days from now.”
Mr. Magallanes went on to say, "We’ve had a lot of emails and phone calls lately about our business structure, so I would like to once again cover a few of the basics. We plan to expand to a minimum of 152K square feet as phase one of our expansion. We believe that $200 in revenue per square foot of grow space is a realistic target going forward. As of today, we have approximately 4.7 million shares outstanding. Officers of our company, including myself, do not take salaries. Our compensation is realized through a monthly dividend; the same dividend that our shareholders receive on a monthly basis. All officer shares in the company are preferred status and locked up for a minimum of 3 years from day of conversion. Expansion capital is being raised through a combination of an S-1 filing and various substantial investments into preferred shares. We have no real debt, no toxic debt and we plan to keep it that way.”
He went on to say, “We are on a rotational harvest which allows us to harvest cannabis year round. We are one of only a few cannabis grow facilities that have received Enviroganic Certification, the highest certification of cannabis growers available. We are one of only two cannabis grow facilities in the country using the organic MAPAL Agro system (See website below). And finally, we have two opportunities for shareholders to visit our facility, the first one being September 16, 2017 and we hope that you’ll take the time if you’re in the area to visit us.”
Mr. Magallanes finished up with, "The company will host our first shareholder event on September 16, 2017. This is due to the overwhelming requests from shareholders. We will pick up those that have reserved a spot for the tour at 10:30am at the Courtyard by Marriott Salinas Monterey (located at 17225 El Rancho Way, Salinas, CA 93907) and drive them to the farm. Cell Phones and Cameras will be allowed.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.