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Pure Harvest Cannabis Group Signs Binding Letter of Intent and Announces Plans for High Visibility Cannabis/CBD Superstore Targeting Colorado’s Tourist Market
Pure Harvest Cannabis Group Signs Binding Letter of Intent and Announces Plans for High Visibility Cannabis/CBD Superstore Targeting Colorado’s Tourist Market.
About this update from Pure Harvest Corporate Group, Inc
[{"type":"text","content":"\n Rapidly Expanding Cannabis Holding Company Creating a Strong Presence in Booming Colorado Cannabis/CBD Market DENVER, CO, Nov. 18, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Pure Harvest Cannabis Group (OTC: PHCG), a publicly traded cannabis holding company, has entered into a binding Letter of Intent (LOI) to acquire SKM, LLC, a vertically integrated cannabis operator located in Dumont, Colorado.  As part of the acquisition, PHCG is planning to build the company’s flagship Pure Harvest Cannabis/CBD Superstore, greenhouse cultivation center and processing laboratory. The retail center is expected be open for business in Q1 2020 with the greenhouse becoming operational in mid 2020. Located on the I-70 corridor 45 miles west of Denver on the way to Colorado’s most popular ski and mountain recreational destinations, it is perfectly positioned to capitalize on Colorado’s lucrative cannabis tourism market. The development will be environmentally responsible and plans include an extensive solar array and use of wind turbines to create most of the energy used by the project. Colorado has emerged as one of the most dynamic cannabis and CBD markets in the US with 2019 cannabis sales expected to top $1.6 billion, which is over $320 per capita. Out of state visitors account for an estimated 30% of all cannabis and CBD sales. The Pure Harvest Dumont project will become an immediately recognizable, high visibility landmark for visitors and residents of Colorado and achieve significant positive publicity for the Pure Harvest brand while pursuing commercial success. “A large majority of the 87 million U.S. visitors that visit Colorado every year will pass by our planned Dumont project,” stated Matt Gregarek, CEO of Pure Harvest. “We believe it will become a well-known tourist destination and waypoint for the cannabis tourist.” This project represents an important innovation in cannabis production and retail and will serve as a significant differentiator separating Pure Harvest from other cannabis companies. The project is expected to serve as the prototype for replication in other similar locations both in Colorado and nationwide that have a nexus of cannabis tourists and potential retail positioning. “Joining with Pure Harvest is an incredible opportunity for SKM and we ...