Players Network Enters California Market with Deal to Develop 400,000 Square Foot Indoor Marijuana Facility
| Source: Players Network : GlobeNewsWire : February 05, 2018 11:18 ET
PNTV partners with Grass Roots Industrial Park to expand its Green Leaf Farms Brand to develop a 101 acre park of indoor cultivation and production
LAS VEGAS, Feb. 05, 2018 (GLOBE NEWSWIRE) -- Players Network (OTCQB:PNTV), a diversified holding company operating in media and marijuana, announced today that Players Network and Green Leaf Farms Holdings, LLC (“Green Leaf”) entered into an agreement to create a Grass Roots Industrial Park (“GRIP”) to co-develop and co-owner a mixed use marijuana industrial project totaling 2,720,000 sq. ft., which we believe would be the largest in the world.
The deal gives PNTV the exclusive right to develop 400,000 sq. ft. of pre-approved light industrial agricultural space for marijuana cultivation and manufacturing facilities. We believe this would make the project the single largest grow facility in the state of California and the largest industrial park of its kind in the world.
The permitted project which is based in Desert Hot Springs, California is intended to be a complete marijuana destination including, but not limited to; sixty eight (68) marijuana cultivation and manufacturing facility units, each approximately forty thousand (40,000) sq. ft., plus an approximately 8-acre non-cannabis zone intended for a hotel, skybar, cannabis college, residential condos, commercial offices and convention space located along the i-10 freeway only 90 miles from Los Angeles.
Green Leaf, a subsidiary of PNTV will be assigned the marijuana cultivation and manufacturing contract per the terms of the agreement.
WeedTV.com, operating under a newly created wholly-owned subsidiary of PNTV, will have an on-site live production studio and media center to produce content and help market and promote all of the tenants within the Grass Roots Industrial Park.
The decision to move forward with the project is based largely on revenue capabilities of the dedicated marijuana cultivation space, the permitting approvals and private water well capacity which generates over 1,100 gallons per minute to drive the overall marijuana cultivation project.
Mark Bradley, CEO, states, “This is an amazing opportunity for Green Leaf to break into the largest marijuana market in the world at an amazing location!” Bradley adds, “Some of the major expenses associated with growing consist of electricity and water utilities. This location will be substantially more cost effective for both of these cost drivers, which will provide us with a competitive edge over other California cultivators.”
“GRIP is one of the most exciting projects in the marijuana space.” said PNTV Director Brett H. Pojunis. Pojunis continued “This acquisition should enable the Company to increase revenues significantly and could make Green Leaf one of the largest marijuana companies in the world.”
PNTV management will be broadcasting a live video on presentation at 1pm EST on Facebook and www.weedtv.com to discuss this release and show a preview of our project.
To learn more about this project, visit http://greenleaf-projects.com.
About Players Network
Players Network is a diversified holding company operating in media and cannabis markets. PNTV owns approximately 85.4% of Green Leaf Farms Holdings, LLC, which holds cultivation and production license(s) awarded by the state of Nevada. The cultivation license enables Green Leaf to grow marijuana and the production license enables the Company to create extracts which are used for cartridges, oils and edibles. WeedTV.com is developing the ultimate resource for the marijuana lifestyle within our media operations.
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About Green Leaf Farms
Green Leaf Farms produces medical and recreational cannabis products. Green Leaf currently operates in North Las Vegas, Nevada, on a 2.3 acre state-of-the-art 27,000 sq. ft. facility, and is entering the California market with the GRIP project. Green Leaf has a seasoned team of professional growers and operators with proven best practices to develop the highest quality products.
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. In evaluating such statements, prospective investors should review carefully various risks and uncertainties identified in this release and matters set in the company's SEC filings. These risks and uncertainties could cause the company's actual results to differ materially from those indicated in the forward-looking statements.
Player’s Network Contacts:
Brett H. Pojunis, Director
European Media Inquiries: