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The Primco Management Inc. has entered into an agreement with CanMED Ventures regarding a 30,000 square foot medical marijuana cultivation facility. Primco will own 100% of the building, land and equipment and has granted CanMED a 10-year management contract for the operation of the Joint Venture.
Granting CanMED a 10-year management agreement displays our confidence in David Irwin and his team and gives Primco the freedom to expand our presence under similar arrangements with other medical marijuana producers. This Joint Venture will produce and dispense legal medical cannabis to Health Canada patients in British Columbia.
Primco has made a corporate decision to become a major player in the medical cannabis industry and the construction of a facility of this nature is the first step in building a $100 million company.