- Limitless Venture Group (OTCPK:LVGI) has signed an LOI to acquire 100% of an Oklahoma operating grow facility with both Indoor and outdoor operations, exclusive to LVGI for 60 days from the signing of the LOI.
- Additionally, they currently have ~400 plants growing indoors and expect to harvest them this month.
- With the current levels of operations, LVGI surmises there is an ability to grow 1.5 to 2 outdoor harvests. Using the current production numbers that would yield around 1.8K to 2.4K pounds of cannabis annually outdoors.
- With a saleable low price range of around $1K/pound, LVGI's first year of outdoor production, if all goes well, could be worth between $1.8M and $2.4M.
- "Our institutional investor has already given LVGI a strong indication of interest in assisting with the financing of this acquisition and is planning a trip to Oklahoma in the very near future to view the property first-hand." states Joseph Francella, CEO.