International Land Alliance Completes Successful First Harvest from Indoor CBD Hemp Operations

Rhea-AI Summary

International Land Alliance (OTCQB:ILAL) has launched outdoor growth operations at its Southern California property, starting with an initial planting of 2,500 hemp plants. Following a successful indoor harvest, the company is now expanding its cultivation efforts. The joint venture, established in October 2020, includes a 1,500 square-foot indoor facility and aims to enhance the company’s operating performance. Products derived from the hemp will soon be available for sale, with a retail platform expected to launch within 30 days.

Positive

• Successful inaugural indoor hemp harvest completed.
• Launch of outdoor growth operations with 2,500 plants enhances cultivation capacity.
• Retail platform for CBD products to launch within 30 days.

Negative

• None.

Launches Outdoor Growth Operations with Initial 2500 Hemp Plants

SAN DIEGO, CALIFORNIA, June 14, 2021 (GLOBE NEWSWIRE) -- International Land Alliance, Inc. (OTCQB:ILAL), (“ILA” or the “Company”), an international land investment and development firm, completed its first harvest from its indoor hemp growing operations at ILA’s Southern California property. Additionally, the Company launched its growing operations at its three-acre outdoor growth area initially consisting of 2500 plants.

“Our CBD hemp joint venture is a resounding success thus far, with the inaugural harvest of the plants in our indoor facility completed earlier this week,” said Jason Sunstein, Vice President of International Land Alliance. “Our partner is autonomously managing the growing process end-to-end, allowing our team to focus on the development, sales and marketing of our real estate projects while realizing a meaningful contribution to our near-term operating performance. These results confirm our determination that this joint venture is an excellent use of land and return on investment, and we look forward to the next phase of the joint venture with four top-shelf, high-CBD hemp strains planted at our outdoor growth space.”

Following the inaugural harvest, two additional high-CBD strains are being replanted in the indoor growing facility. Products using the CBD hemp from ILA’s harvest will be available for sale on a retail platform that is currently under development, set to be launched within 30 days.

ILA announced the signing of the joint venture, which is owned 50% by the Company and 50% by the Grower, on October 12, 2020. The first phase of the development includes a 1,500 square-foot indoor facility slated for growing, germination, processing and storage, as well as three acres of outdoor growth area. The Company’s contribution to the Joint Venture is the use of the 40 acres of land and existing indoor commercial space. The Grower contributes all required capital, consulting services, cultivation equipment, agricultural infrastructure and ability to scale hemp operations.

About International Land Alliance, Inc.:

International Land Alliance, Inc. (OTCQB:ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.

Safe Harbor Statement

The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as "may," "expects," "believes," "anticipates," "intends," "projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.

CONTACT:
Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us

FAQ

What is the significance of International Land Alliance's recent outdoor hemp growth operation?

International Land Alliance's recent outdoor hemp growth operation signifies an expansion in its cultivation capacity, aiming to generate additional revenue streams from CBD products.

How many hemp plants has ILAL planted in its outdoor growth area?

ILAL has initially planted 2,500 hemp plants in its outdoor growth area.

When will ILAL's retail platform for CBD products be launched?

ILAL's retail platform for CBD products is expected to launch within 30 days.

What phase of development is ILAL currently in for its hemp operations?

ILAL is currently in the first phase of development, which includes both indoor and outdoor hemp growing facilities.

What are the expected financial benefits of ILAL's joint venture in hemp cultivation?

The financial benefits of ILAL's joint venture in hemp cultivation are expected to enhance near-term operating performance and provide a strong return on investment.