Freedom Leaf Purchases Land and Fully Equipped, 430,000 Square Foot Greenhouse Complex in Spain for 4,100,000 EUROS ($4.75 million) - Our Intention is to Operate the Largest Indoor Hemp Nursery in the WorldPress Release | 06/18/2018
LAS VEGAS, NV, June 18, 2018 (GLOBE NEWSWIRE) -- Freedom Leaf, Inc. (OTCQB: FRLF), a group of international vertically integrated hemp businesses focused on health, wellness, education and media products, has acquired a 430,000-square-foot greenhouse complex near Valencia, Spain for €4,100,000 ($4.75 million) 39°16'46.0"N 0°27'31.1"W
The facility is fully operational and is equipped for light deprivation to force plants to flower, which will allow it to produce up to four crops per year.
Over 100,000 hemp seedlings have already been planted with more being planted everyday till the end of this month. The facility is projected to yield over 100,000 plants this first summer crop, with an approximate yield of 200-400 grams per plant. Currently, in Europe, hemp bud sells for €45 to €$450 per kg based on the quality of the seed stock and strain.
Clifford J. Perry, Freedom Leaf co-founder and CEO, explained: “With this acquisition, Freedom Leaf intends to become the largest indoor hemp producer in Europe, where there is a booming market for CBD products. We expect to have the facility in full production by early 2019. It will replace our much smaller operation near Elche, as we have dissolved our previous arrangement with Green Market Europe by mutual agreement.”
About Freedom Leaf, Inc.®
Freedom Leaf, Inc., The Marijuana Legalization Company®, is a group of diversified, international, vertically-integrated hemp businesses concentrating on health, wellness, and education as well as cannabis media companies. Freedom Leaf Inc. is a fully-reporting and audited publicly-traded company under the symbol (OTCQB: FRLF). Freedom Leaf Inc. has been a leading go-to resource in the cannabis, medical marijuana and industrial hemp industries since 2014, founded by professionals with over 200 years combined experience in marijuana legalization advocacy. FRLF is building a diverse portfolio of valuable businesses through strategic mergers, acquisitions, and acceleration projects across the industry.
FRLF’s large portfolio of acquisitions and properties includes: our recently acquired full spectrum hemp oil product line - Irie CBD; our wholly-owned hemp extraction division - Leafceuticals, Inc.; our exclusive health and wellness full spectrum hemp oil brand - Hempology, our just-acquired indoor hemp greenhouse in Valencia, Spain for the cultivation of Hemp; our hemp-based rolling paper company - Plants to Paper; two of the largest Spanish-speaking cannabis web portals in the world - LaMarihuana.com and Marihuana-Medicinal.com, and of course our flagship publication - Freedom Leaf Magazine.
Utilizing these mergers and acquisitions, Freedom Leaf Inc. is continually building a solid foundation for our vertically-integrated hemp company to maximize both revenue growth, and net profit, which will increase our shareholders value. Our cultivation and extraction divisions allow FRLF to grow and source our own hemp CBD, which allows dramatically lower production costs for our wholly-owned CBD product lines, thereby generating more revenue for each product sold. We formulate and manufacture the majority of our products in our own in-house formulation centers, also greatly reducing our costs and increasing revenue. In addition, our extensive domestic and international media companies ensure we can continuously direct traffic to our many ecommerce sites and nationwide retail locations.
Freedom Leaf Inc. also sells licenses to use the Freedom Leaf brand in different countries and states across the globe. We have entered into three license agreements: for Spain and Portugal, for The Netherlands, and for Southern California.