Power REIT Announces Extension of Time for Investors to Participate in its Previously Announced Rights Offering
January 21 2021 - 4:05PM
Power REIT (NYSE-AMEX: PW and PW.PRA) (“Power REIT” or the “Trust”)
today announced that it has extended the date for the expiration of
the closing on the previously announced Rights Offering to January
29, 2021.
David Lesser, Power REIT’s Chairman and CEO,
commented, “Power REIT has received significant positive feedback
regarding the investor friendly nature of the Rights Offering. In
addition, we have received numerous communications expressing
concerns about investors not yet receiving the Rights Offering
package in the mail or having received it very late. It seems that
the mail in the United States may currently be unusually slow
whether due to COVID19 or other reasons. Accordingly, we have
concluded to push back to January 29, 2021 the date of the closing
on the Rights Offering to give investors additional time to
participate.”
STATEMENT ON SUSTAINABILITY
Power REIT owns real estate related to
infrastructure assets including properties for Controlled
Environment Agriculture (CEA Facilities), Renewable Energy and
Transportation. CEA Facilities, such as greenhouses, provide an
extremely environmentally friendly solution, which consume
approximately 70% less energy than indoor growing operations that
do not benefit from “free” sunlight. CEA facilities use 90% less
water than field grown plants, and all of Power REIT’s greenhouse
properties operate without the use of pesticides and avoid
agricultural runoff of fertilizers and pesticides. These facilities
cultivate medical Cannabis, which has been recommended to help
manage a myriad of medical symptoms, including seizures and spasms,
multiple sclerosis, post-traumatic stress disorder, migraines,
arthritis, Parkinson’s disease, and Alzheimer’s. Renewable Energy
assets are comprised of land and infrastructure associated with
utility scale solar farms. These projects produce power without the
use of fossil fuels thereby lowering carbon emissions. The solar
farms produce approximately 50,000,000 kWh of electricity annually
which is enough to power approximately 4,600 home on a carbon free
basis. Transportation assets are comprised of land associated with
a railroad, an environmentally friendly mode of bulk
transportation.
ABOUT POWER REIT
Power REIT is a real estate investment trust
(REIT) that owns real estate related to infrastructure assets
including properties for Controlled Environment Agriculture,
Renewable Energy and Transportation. Power REIT is actively seeking
to expand its real estate portfolio related to Controlled
Environment Agriculture. Additional information about Power REIT
can be found on its website: www.pwreit.com
ABOUT THE APOTHEKE
The Apotheke was founded in 2018 in Colorado
Springs by a woman on a mission to create craft quality Cannabis.
With innovative solutions and cultivating techniques, we are
setting a new standard in the Cannabis industry by breeding a vast
selection of medical strains. We offer high quality cannabis
flowers, edibles, ingestibles and topicals targeted to treat a
variety of ailments. We are focused on creating an exceptional
experience for our customers by educating and working with each
individual to provide a product that will have a positive impact on
their lives. Additional information about The Apotheke can be found
on its website: https://www.theapotheke.co
CAUTIONARY STATEMENT ABOUT
FORWARD-LOOKING STATEMENTS
This document includes forward-looking
statements within the meaning of the U.S. securities laws.
Forward-looking statements are those that predict or describe
future events or trends and that do not relate solely to historical
matters. You can generally identify forward-looking statements as
statements containing the words “believe,” “expect,” “will,”
“anticipate,” “intend,” “estimate,” “project,” “plan,” “assume”,
“seek” or other similar expressions, or negatives of those
expressions, although not all forward-looking statements contain
these identifying words. All statements contained in this document
regarding our future strategy, future operations, future prospects,
the future of our industries and results that might be obtained by
pursuing management’s current or future plans and objectives are
forward-looking statements. You should not place undue reliance on
any forward-looking statements because the matters they describe
are subject to known and unknown risks, uncertainties and other
unpredictable factors, many of which are beyond our control. Our
forward-looking statements are based on the information currently
available to us and speak only as of the date of the filing of this
document. Over time, our actual results, performance, financial
condition or achievements may differ from the anticipated results,
performance, financial condition or achievements that are expressed
or implied by our forward-looking statements, and such differences
may be significant and materially adverse to our security
holders.
CONACT:
David H. Lesser, Chairman & CEO |
Mary Jensen, Investor Relations |
dlesser@pwreit.com |
mary@irrealized.com |
212-750-0371 |
310-526-1707 |
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301 Winding RoadOld Bethpage, NY
11804 |
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www.pwreit.com |
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