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FutureLand (FUTL) Signs Binding MOU to Purchase 50% of 78 Acres in Oregon to Outfit a Recreational Marijuana Grow Facility
FutureLand (FUTL) Signs Binding MOU to Purchase 50% of 78 Acres in Oregon to Outfit a Recreational Marijuana Grow Facility.
About this update from Hemp, Inc.
[{"type":"text","content":"\nFutureLand (FUTL) Signs Binding MOU to Purchase 50% of 78 Acres in Oregon to Outfit a Recreational Marijuana Grow Facility\n\nFutureLand (FUTL) Signs Binding MOU to Purchase 50% of 78 Acres in Oregon to Outfit a Recreational Marijuana Grow Facility\n\n\nCompany to Own Major Grow Facilities in Southern Oregon\n\n\n DENVER, CO--(Marketwired - June 02, 2016) - FutureLand Corp. (OTC PINK: FUTL), a leading provider of strategic real estate investment, grow facilities and material solutions to the global cannabis industry, announced today that they have entered into a binding MOU to purchase 50% ownership in 78 acres of land in Southern Oregon for $125,000 plus additional investment capital. The land is currently being developed into a recreational marijuana facility.Cameron Cox, CEO of FutureLand Corp., said, \"There are great opportunities all around us at this present time. However, the trick sometimes is picking the right partners with whom to do business. We believe we have found such a group in Southern Oregon with Hspendleton, LLC and Groovey Groves. The agreement to purchase 50% of Hspendleton, LLC property also gives FutureLand Corp. the first right of refusal on 265 acres owned by Groovey Groves in Wolf Creek, Oregon where a recreational license is currently pending. The plan is to immediately pursue a recreational license on the 78 acres as well once the appropriate growing infrastructure is in place to proceed. We have some very exciting plans for this particular grow site and I look forward to sharing that plan more extensively with everyone as we progress\". Bruce Perlowin, CEO of Hemp Inc. (OTC PINK: HEMP), as well as their consulting division, continue to be great assets to the FutureLand Corp. network. Our subsidiary FutureLand Oregon, LLC continues to negotiate a takedown on the 40 acre medical marijuana grow facility parcel referenced in our last press release and is actively trying to conclude the deal. FutureLand Oregon, LLC agreed to purchase the property for $975,000 in cash and expected to close a few weeks ago but encountered structural and documentation delays with reference to the closing. We are in the final steps to correct the documentation delays to finalize our purchase. Once the purchase is complete, FutureLand Oregon, LLC will file for a recreational license on the property. \n About FutureLand Corp...