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10284822639

A Portuguese medical cannabis grower seeks outright sale of the lease, and going concern business

Licence(s) Held:

INFARMED pre-license with extension granted until October 2023

10284822639

Seeking outright divestiture of the lease, and going concern business for €1.5 million

  • A Portuguese medical cannabis grower focused in B2B sales in Portugal, Europe and Israel

  • Site is within an industrial and agricultural area located in the south-east of Portugal, about 2.5-hour drive to Lisbon

  • Site is currently in development and comprised of 3 x 13,000 ft.² fully built, leased warehouses on ~25 acres of land

  • ~€200,000 spent on licensing and the build-out to date and ~€400,000 retrofitting/renovation are required for the warehouses

  • Extension of the pre-license is granted until October 2023

  • Once licence is granted, the operation will be certified under GACP, CUMCS and EU-GMP to commence cannabis activities in the areas of cultivation, import, and export of medical cannabis flower

  • Site has future production capability of 1,800 kg of dried flower in Phase 1 and 5,300 kg of dried flower when fully developed

  • Company uses patented hydroponic vertical cultivation systems that increases quality yield and productivity by 30-35%

  • MOU/Supply agreements in place to sell 1,200kg Kgs per year of high THC strains to Germany and Israel respectively

  • Site also includes a 3-bedroom house with annexes in the property

  • Available land for the installation of a solar farm – able to generate a minimum of 5 MW of total capacity, producing 30% of the energy which could be sold back to the grid

  • Seeking outright sale of the lease and going concern business

  • There is an option to purchase the site and warehouses (land and warehouses are valued at €1,050,000)

10284822639

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