True Leaf Brings Monashee Gateway Business Park to Market
Phase one lot sales will unlock approximately $6.4 million in land value to significantly strengthen the company’s financial position
Vernon, British Columbia–(Newsfile Corp. – September 20, 2021) – True Leaf Brands Inc. (CSE: MJ) (OTC Pink: TRLFF) (FSE: TLAA) (“True Leaf” or the “Company”) is advancing plans to strengthen its financial position as it prepares to launch full-scale cannabis operations. The Company has listed for sale phase one of its Monashee Gateway Business Park project in Lumby. This first phase includes six lots covering 7.8 acres of land valued at approximately $6.4 million in the Okanagan commercial real estate market. An additional 32 acres will be subdivided and developed in subsequent phases.
“This project is an innovative financial solution that secures the future of True Leaf,” says Darcy Bomford, CEO of True Leaf. “If successful, it will allow us to continue to invest in our new business model and launch our market-ready services program for micro-cultivators on strong financial footing. Our focus remains on working towards delivering strong and sustainable value for our shareholders.”
True Leaf’s 19,500 square foot craft cannabis facility will anchor the Monashee Gateway Business Park. The project, which has full local government and community support, will create a diverse and vibrant economic hub in Lumby. The site offers a variety of possibilities for build-to-suit industrial, manufacturing, and office users. The project also provides a unique opportunity for craft cultivators to access land zoned for regulated cannabis activities.
“Demand for industrial land in British Columbia is at an all-time high,” says Jeff Brown, team leader at William Wright Commercial Real Estate Services and sales agent for the project. “The market’s response has been extremely positive surrounding this project, and this opportunity provides accessibility to the same product at a fraction of the cost compared to the neighbouring city only a 10-minute drive down the road. We are looking forward to attracting new businesses to the Village of Lumby and anticipate that this will be a common trend as companies pivot towards ancillary markets for more approachable property values.”
More information on the Monashee Gateway Business Park is available at www.williamwright.ca.
About the Company
True Leaf is a Licensed Producer of cannabis preparing to launch a program to provide path-to-market services for micro-cultivators. The program will operate from the Company’s 40-acre property in Lumby, British Columbia, and offer a full suite of in-house processing services to the craft cannabis community.
To learn more, visit www.trueleafbrands.com.
Investor Contact:
Darcy Bomford
Chief Executive Officer
Darcy@trueleafbrands.com
1 (250) 275-6063
Media Inquiries: media@trueleafbrands.com
Cautionary and Forward-Looking Statements
This news release contains “forward-looking statements” including, among other things, statements relating to the completion…
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