(TheNewswire)
November 15, 2016 / TheNewswire / Vancouver, British Columbia – Arcturus Growthstar Technologies Inc.
(the “Company” or “Arcturus”) (CSE: AGS) (OTCQB: AGSTF) is pleased to announce that it has signed a Letter of Intent (“LOI”) to
acquire a 15-acre parcel of land in Redland, Florida, in a County that is designated to legally cultivate, process and dispense
cannabis. Redland is a city within Miami-Dade County, with Biscayne National Park to the east and Everglades
National Park to the west. Redland is primarily a Miami suburb and a major agricultural area. Miami-Dade
County is referred to as the nation’s “Salad Bowl” and “Winter Bread Basket.”
“We are pleased to have reached this LOI to acquire this prime parcel of land as it has a long history as a plant
nursery, which was first established in 1963,” says Mr. William Gildea, Arcturus Growthstar Technologies Inc.’s CEO and Chairman.
“This acquisition will be an all-stock deal and greatly adds to our geographic footprint and overall strategy in the state of
Florida. With the recent passage of Amendment 2, an initiative which significantly broadens Florida’s medical marijuana program, we
want to be firmly established in the state and solidify our first mover advantage in one of the biggest potential cannabis markets
in the United States.”
With this acquisition, and the Company’s previously announced 10-acre greenhouse acquisition near Orlando, Arcturus
has the potential, if fully licensed, to develop 25-acres of cannabis crops. If current state projections for the cannabis market
size hold up to their $1.8B projection by 2020, Florida will have considerable demand for medical marijuana, even without factoring
in the potential for recreational legislation.
This is an exciting acquisition for Arcturus as the 15-acre farm is located in a designated legal grow zone with
close proximity to Miami. Arcturus and its experienced team of operators, including John Sweeney, former VP of Operations for
Tilray’s 60,000-square foot Vancouver facility, is in a unique position as a Canadian based company because it is
poised to quickly commence operations within the United States, rather than potentially waiting years to become a licensed producer
under Canadian law.
For further information, contact William Gildea, Director, at 617.834.9467.
On behalf of the Board,
Arcturus Growthstar Technologies Inc.
William Gildea, CEO & Chairman
About Arcturus
The Company’s business model includes developing and acquiring technologies that will position it as a leader in the
evolution of Controlled Environment Agriculture (CEA) for the global production of various types of plants. Arcturus provides
scalable, indoor CEA systems that utilize minimal land, water and energy regardless of climate, location or time of year and are
customized to grow an abundance of crops close to consumers, therefore minimizing food miles and its impact to the environment. The
Company holds an exclusive, worldwide license to use a patented vertical farming technology that, when compared to traditional
plant production methods, generate yields up to 10 times greater per square foot of land. The contained system provides many
other benefits including seed to sale security, scalability, consistency due to year-round production, cost
control, product safety and purity by eliminating environmental variability.
The Company is also in the business of designing and distributing LED lighting solutions utilizing the COB and
MCOB technology. The Company is focused on delivering cost efficient lighting to North America via advanced e-commerce sites the
Company owns and operates. LEDCanada.com which caters to B2B customers is a supplier of the newest and highest demand LED
solutions. The Company also owns and operates COBGrowlights.com which caters to both large and small agriculture green houses and
controlled cultivation centers.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is
defined in the policies of the Canadian Securities Exchange) accepts
responsibility for the adequacy or accuracy of this release. The Canadian Securities Exchange has not in any way
passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
This news release may include forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from
those in forward-looking statements. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and
financing, and general economic, market or business conditions. There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements except as required under the applicable laws.
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