Sunset Island Group Targeting 230K Square Feet of Cannabis Grow Space
August 03 2017 - 9:15AM
InvestorsHub NewsWire
Sunset Island Group Targeting
230K Square Feet of Cannabis Grow Space
San Clemente, CA -- August 03, 2017 --
InvestorsHub NewsWire -- SUNSET ISLAND GROUP, INC. (OTCQB:
SIGO) announced today that they have looked at additional
expansion space that’s available and that they are now considering
230,000 square feet of cannabis grow space.
CEO T.J. Magallanes stated, "We have a very
solid plan for accessing additional capital for expansion that will
more than meet our previously announced expansion plans. With
that being said, as a result of recent discussions with our current
lease holder, it has come to our attention that up to 230K square
feet of additional grow space could become available soon at very
favorable terms. We are strongly considering this option
based on the terms presented. Based on the results of our
first harvest and the overall performance of our team, we are of
the opinion that we should be able to scale up production at a much
quicker pace than originally expected.”
CFO Valerie Baugher stated, “Even if we do not
immediately put all of that square footage into production, another
consideration is the permitting and licensing requirements that
will be put into effect across the state of California at the
beginning of next year. Every indication points to less
growers across the state as the legal requirements become more
stringent. Having a surplus of square footage could become an
advantage to us if in fact the demand for product becomes more than
available supply.”
Mr. Magallanes went on to say, “We are working
out the details on two more pieces of very exciting news and will
share with our investors in the coming weeks. If both of
these come to fruition, there’s no doubt in our minds that
investors will be extremely pleased with their investment in Sunset
Island Group.”
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.
Sunset Island (CE) (USOTC:SIGO)
Historical Stock Chart
From Jul 2024 to Aug 2024
Sunset Island (CE) (USOTC:SIGO)
Historical Stock Chart
From Aug 2023 to Aug 2024