CARSON CITY, NEVADA--(Marketwired - April 28, 2014) - Indie Growers Association (OTCQB:VKMLD), formerly Viking Minerals Inc., announces it has terminated the share exchange agreement with Indie Growers Union LLC, a Washington State corporation. By terminating this agreement, the Company has severed all associations with Alejo John Moreno or any corporate entities associated with him including Indie Growers Union LLC and IGA LLC.
The Company is pleased to announce it has entered into an agreement with River Ridge Sunshine Farms LLC to acquire a 30% interest as well as a long term lease on the remaining 70% of their agricultural property in Prosser, Washington. The acquisition and long term lease is to take effect no later than May 31st following a short due diligence period. The 40 acre plot is subdivided into 15 separate parcels, one of which has already been leased to a licensed grower with construction well under way on greenhouses and ancillary buildings. The first crop is expected to be planted in the next 60 days. Under the sublease agreements with the licensees, a portion of the revenue from the sale of every crop will be paid to the Company as a royalty.
The Company is also pleased to announce the appointment of Mr. Arnie DeWitt III to the Company's Board of Directors (the "Board"). Over the past 15 years Mr. DeWitt III has been providing sales and marketing consultation services to furniture manufacturers such as England furniture, a La-z-boy company, helping them build a retail base of furniture dealers. He has developed sales strategies, executed social media and conventional advertising campaigns, shot and published countless hours of HD promotional videos, and conducted hundreds of sales training sessions, garnering multiple awards in sales and customer service. Also an avid gardener and landscaper, Mr. DeWitt III has a passion for organic gardening techniques in food production. With experience in brand development, marketing and sales, Mr. DeWitt III adds an important skill set to the Company's Board.
"I am honoured to accept this important position," said Mr. DeWitt III. "The River Ridge property is an ideal location within Washington State and there is a long list of licensed growers in the area with no place to plant their crops. As an asset of the Company, we will be uniquely poised to take advantage of the peak in demand for agricultural land by providing growers with turnkey greenhouse facilities that meet the requirements of the State. At current prices, 15 Tier 3 growers producing crops on the property could result in royalties for the Company of up to 20 million dollars annually."
Indie Growers Association will continually strive to build shareholder loyalty by focusing on strategic initiatives that add value for our shareholders. Following the successful closing of the River Ridge Sunshine Farm transaction, the Company intends to acquire other properties and vend in other assets related to this emerging industry.
Indie Growers Association (formerly Viking Minerals, Inc.)
Robert Coleridge, President
Cautionary Note Regarding Forward-Looking Statements
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Company's current expectations, assumptions, and forecasts and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to publicly release any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.