The Company acquired this property in Q for $1,100,000, which included three vacant 20-acre parcels, and one 20-acre parcel with an existing 8,000 square foot event venue currently generating revenue. In Q3 2019, the Company sold one vacant 20-acre parcel for $630,000. After careful due diligence, the Company has determined that this Joint Venture is the best use and return on investment for the remaining two vacant 20-acre parcels without the Company expending additional capital. It is anticipated that a formal Joint Venture Agreement governing the hemp operations will be executed on or before September 15, 2020. On August 26, 2020, the Company entered into an LOI with Grower for the formation of a Joint Venture, which will be owned 50% by the Company and 50% by Grower.
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