Global Consortium, Inc., Ramps up Production
- Manufacturing Indulge Oils
- Building the Asset base
Coconut Creek, FL -- November 26, 2019 -- InvestorsHub NewsWire -- Global Consortium, Inc., (OTCPINK: GCGX) is pleased to announce Manufacturing of Indulge Oils is underway at the Cannabis Mall. The City of Sacramento issued the Certificate of Occupancy ("CO") for the manufacturing suite allowing the production of Indulge Oils to begin. Production will ramp up over the balance of 2019 heading into 2020 at or near full production.
Global Consortium as per Federal law is not allowed to own any Cannabis licenses or actually touch the plant. GCGX functions like every other US cannabis company does operating in the United States, by owning significant assets that are leased to licensed cannabis operators.
These assets consist of the building, machinery, IP, and brands. GCGX is compensated monthly through a management/service agreement. The more assets GCGX can acquire and lease back to licensed cannabis operators the more money it will earn monthly. The true value for GCGX is when the Brand(s) are sold, the sale would include all of the assets owned by GCGX at a significant markup as seen in other cannabis acquisitions.
Global Consortium is positioned in the right place for future acquisitions California, the world's largest legal market. The building being purchased next summer holds multiple licenses, which although not in GCGX's name are sold with the sale. California has been experiencing significant issues with the legal cannabis market rollout, which could take years to sort out. The market is wide open for new brands to enter the space.
Having all the components to cultivate, manufacture, edible manufacturing, Processing, distribute, and deliver all within the same space holds tremendous value. Then when you add in some house brands to the other assets within the building, you have an all-inclusive cannabis empire valued over $100 million based on other transactions in the industry.
Global Consortium, Inc., does not need to own the licenses they need to own everything else as they do.
Global Consortium, Inc., is building America's First Cannabis Mall in Sacramento, CA which when completed will house Manufacturing, Distribution, Delivery, Retail, Testing, and Cultivation all under one 64,000 square foot building. The Mall will house the largest Manufacturing facility of THC and CBD Distillate and Edibles believed to be operational in the United States. Global Consortium has leased 25,000 Square feet of the building with a purchase option, the Company is working to secure a first right of refusal for the remaining 39,000 square feet.
Global Consortium, Inc., in compliance with SEC regulations, may in the future use social media outlets like Facebook or Twitter and its own website to announce key information in compliance with Reg. FD.
This news release contains "forward-looking statements" as that term is defined in Section 27(a) of the United States Securities Act of 1933, as amended and Section 21(e) of the Securities Exchange Act of 1934, as amended. 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. Such forward-looking statements include, among other things, estimates of services and equipment markets, the release of corporate apps, growth of the platform, target markets, product releases, product demand and, business strategy. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. 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. Investors should consult all of the information set forth herein and should also consider that any investment in securities is at risk.
Details of the Company's business, finances, appointments, and agreements can be found as part of the Company's continuous public disclosure on otcmarkets.com.
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