Sunset Island Group
Secures Distribution License
SAN
CLEMENTE, CA -- January
31,
2018 -- InvestorsHub
NewsWire -- SUNSET ISLAND GROUP, INC. (OTCQB:
SIGO) announced today that the company received its
distribution licenses for both adult and medicinal cannabis
products. This allows the
company to deal directly with dispensaries. It also allows the
company to sell products produced or manufactured by other
companies, which opens up
several joint venture opportunities.
CEO
Valerie
Baugher
stated,
"We are pleased that
this final step in the licensing process has happened so quickly.
The company now has its cultivation, manufacturing and distribution
licenses for both adult and medicinal products. The timing could
not be more perfect as it coincides with our retrofit activity
which should prove to be substantial as it pertains
to revenue
growth. It's easy to get
bogged down in all of the complexities of the
retrofit, but I was recently
asked to describe exactly what
we're
doing with our retrofit in "layman's
terms". It turned out to be
a healthy discussion and helped create a visual for a couple of our
shareholders, so I thought I would share with the rest of you
today."
Ms.
Baugher
went on
to say, "As most of you know, each "grow bay" is exactly 2,000
square feet. Each bay is expected to generate at least four
harvests per year but are aiming for
five. We currently have
six bays at ground level as part of this
retrofit,
one of which is used as a staging and prep area. Imagine if you
would walking
into a
Costco. What you see are shelves two and three levels high. The
finished retrofit will provide similar vertical space for us.
Instead of one level of grow space, we will have two in our
existing facility. Also, over the past
couple of months, as the retrofit has evolved, we've increased our
plants per bay from 480, to 1,150 in the latest two bays and
fully expect that once the
retrofit is complete, 1,500-1,600 plants per bay
(on
each level)
per
harvest will become the norm."
Ms.
Baugher
continued
with,
"Once the initial retrofit is complete, with the licensing and
permitting activity we have in the works now, the plan is to build
out multiple grow
facilities using the same
layout/buildout as our original facility. There are several
options on the table for expansion as it pertains to location(s)
and available square footage. Each option has its own unique set of
pros and cons, but all are favorable as it pertains to our long
term strategy. Price per
pound is
in
constant flux and will always remain as such, but the numbers are
favorable currently due to demand, which has skyrocketed recently
as a result of the change in the law for the state of
California."
Ms.
Baugher
finished
up with, "What I've laid out
for you today are the different variables that go into setting
revenue forecast for our company; some fixed and
some that
change frequently, but I hope that this is informative and provides
a better understanding of how the buildout will look and how it
will be configured as we move forward with our plan.
Now that
we have secured all required licenses, it's full speed
ahead. As always, we thank
each of you for your continued support."
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.
Source: Sunset Island Group, Inc.
Contact: info@sunsetislandgroup.com