FutureLand Oregon LLC, has closed on a partnership with Hspendleton LLC that will see the company claim a 50 percent stake in 265 acres in southern Oregon used to grow cannabis for the state’s recreational market, the company announced in a press release. Hspendleton LLC was the previous landowner and part owner of the recreational license.
“Little chunks. Grow the company, and its assets, in little chunks, if necessary. FutureLand has always believed in real estate. Especially real estate in our business,” Futureland Corp CEO Cameron Cox said in the release. “So then, here is where we sit: while we grow marijuana and build a house to inculcate massive revenues, we are also going to keep stock-piling our real estate holdings to ensure the longevity of our various enterprises.”
FutureLand Oregon is a subsidiary of FutureLand Corp, which is based in Colorado.
The deal is worth a total of $250,000; with $80,000 down, $70,000 due in late spring, and a $100,000 convertible note. The Tier II cultivation license for the property allows 40,000 square feet of outdoor grow, which allows them to grow 40,000 square feet of flowering plants while vegging and cloning in a separate space.
Cox said that in addition to the Oregon plot, the company has 78 acres in Grants Pass, Oregon, 240 acres in southern Colorado, and 265 acres in Wolf’s Creek, Oregon. The company expects revenues for the new Oregon property to be between $3 million and $4 million and expect to begin growing crops late next month.