|Full Alliance Group, Inc. (OTCPK: FAGI), Announces Joint Venture for Federally Approved Hemp-Grow, CBD Production in California.
LOS ANGELES, California, August 3, 2017: Full Alliance Group, Inc. (OTCPK: FAGI), a holding company, is pleased to announce that it has acquired 15 acres of land from HRM Farms outside of Stockton, California.
Under the terms of the agreement, FAGI has agreed to pay $1,600/acre as a one-time payment in exchange for a 15-year master lease, renewable in 10-year increments. FAGI will also have first right of refusal for additional acreage up to 1,000 acres on adjoining plots.
This agreement allows for immediate access to an additional 65 acres for a one-time fee of $1,600/acre. Once additional capital is secured FAGI plans to exercise this option.
All land is Federally-recognized Tribal Member owned, fee licensed agricultural land. The hemp-grow has already been linked to a third-party agricultural research program which is engaged in an agricultural pilot program. Once initial costs have been reimbursed, profits will be split 50/40/10 between FAGI, HRM Farms, and the research institution, respectively.
This new joint venture will focus on growing industrial hemp for the purpose of CBD oil extraction, distribution and other downstream revenue generation, as well as future growth of additional agricultural products. The new company will be recognized as Full Alliance HRM, NAC.
Chairman of the Board / CEO
ABOUT FULL ALLIANCE GROUP
Full Alliance Group Inc. is a multi-faceted company with current diverse investments in the United States, focusing primarily on organic agriculture, acquisitions, and CBD-based nutraceuticals. Once these strategic acquisitions are procured and integrated into the long term objectives of the company, Full Alliance Group will provide investment capital, modern business practices and best-in-class management to cultivate and mature these companies to their greatest potential.
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