Mountain High Acquisitions Corp's (MYHI) subsidiary Canna-Vest Corp buys three properties totaling nine acres in Colorado for hemp growers. One parcel, called the Isabelle Property has been one of the largest greenhouse marijuana grow facilities in the State. Utilizing 42K square feet it can produce more than 5,000 pounds of pot in ten separate harvests.
Mountain High expects to generate over $2.5M in net annual revenue from the operation without significant leasehold improvements.
The second parcel is the Madison Property. Its 28K square foot building is currently zoned for marijuana cultivation and can house up to 200 specialized grow pods that will be leased to growers of highly specialized weed. At full capacity, the firm expects to earn revenues of $8.4M per year.
The third parcel is 90 acres of raw land in Avondale that is zoned for marijuana cultivation. Once the infrastructure is in place, the company will develop the land in ten or more 5-acre plots that it will lease to growers.