Farmhouse Announces Strategic Los Angeles Cannabis Campus For Sale
Farmhouse (OTCQB: FMHS) announced the sale of its Downtown Los Angeles Cannabis retail dispensary, which is part of a 35,000 sq. ft. campus near the Arts District and USC. The dispensary comes with four licenses for retail, cultivation, distribution, and manufacturing opportunities. Currently managed by a court-appointed receiver, the sale is subject to court approval. CEO Evan Horowitz stated the dispensary has a history of competitive revenue. Farmhouse also operates the WeedClub Platform and launched an NFT division in December 2021.
- Dispensary offers four licenses for retail, cultivation, distribution, and manufacturing.
- Located in a rapidly developing area of Los Angeles, enhancing investment potential.
- Dispensary has a history of competitive revenue as highlighted by CEO Evan Horowitz.
- Sale is subject to court approval, which introduces uncertainty.
- Current control by a court-appointed receiver may signal financial distress.
SAN FRANCISCO, Oct. 13, 2022 /PRNewswire/ -- Farmhouse Inc. (OTCQB: FMHS) (the "Company") announced today that the Company has its Downtown Los Angeles ("DTLA") Cannabis retail dispensary business for sale. The DTLA dispensary is part of a 35,000 sq. ft. campus that is steps from the 10 freeway, near the up-and-coming Arts District, and close to the University of Southern California.
The dispensary comes with four licenses for retail, cultivation, distribution, and manufacturing with the opportunity to add more in the future. The cultivation business has two dry rooms, six flower rooms, and one properly sized vegetation and mom room. It is equipped with 300 luxx hps flower lights, is a gen-2 facility (considered top of the line when revamped in 2019), has a setup for salt nutrients, and additional automation.
"Farmhouse is connecting investors with an exciting opportunity to purchase a premium DTLA dispensary with a history of competitive revenue in a blossoming district of Los Angeles," said Evan Horowitz, CEO of Farmhouse.
The DTLA dispensary is currently under the control of a court-appointed receiver, Stoneblossom LLC. Tours are available by appointment at LA Farmers Inc. 824 E 17th St., Los Angeles, CA 90021. The sale is subject to court approval.
Farmhouse has multiple divisions, including the WeedClub Platform, a professional social platform, that enables professionals to connect, discover products and services to scale their businesses. The Company believes it has established itself as the trusted brand to connect the industry through the WeedClub Platform and its @420 Twitter handle. In December 2021, the Company launched its NFT division to connect the cannabis and NFT industries through artist partnerships, NFT licensing and generative projects.
The Company cautions you that statements in this press release that are not a description of historical facts are forward-looking statements. These statements are based on our current beliefs and expectations. The inclusion of forward-looking statements should not be regarded as a representation that any of our plans will be achieved. Actual results may differ from those set forth in this press release due to the risk and uncertainties inherent in our business.
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SOURCE Farmhouse, Inc.
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