ILA entered into a contract with an international hemp distributor to sell up to 500 pounds per month at $125 per pound for a potential monthly revenue of $62,500 for its outdoor growth operations, which the Company recently launched. The Company is expanding its outdoor growth area, which now consists of approximately 5200 plants, to meet the demands of the contract.
Additionally, the Company established an online retail channel to sell products using the CBD hemp harvested at the ILA property. The online retail channel is expected to launch by July 4th, 2021.
“Establishing these sales and distribution channels is an important next step in monetizing our CBD hemp plant harvests,” said Frank Ingrande, President of International Land Alliance. “The agreement with our distribution partner, as well as with our growing partner for the joint venture, allows us to focus on our other real estate projects with confidence that our hemp operations are being diligently managed. We look forward to realizing what we anticipate will be an excellent return on investment for this project, while continuing to ramp up the sales and marketing of our Baja California developments and generate sustainable value for our stakeholders.”
ILA recently completed a successful first harvest from its indoor hemp growing operations, and is replanting two additional high-CBD strains in its indoor growing facility.
ILA announced the signing of the joint venture, which is owned 50% by the Company and 50% by the Grower, on October 12, 2020. The first phase of the development includes a 1,500 square-foot indoor facility slated for growing, germination, processing and storage, as well as three acres of outdoor growth area. The Company’s contribution to the Joint Venture is the use of the 40 acres of land and existing indoor commercial space. The Grower contributes all required capital, consulting services, cultivation equipment, agricultural infrastructure and ability to scale hemp operations.
About International Land Alliance, Inc.:
International Land Alliance, Inc. (OTCQB:ILAL) is an international land investment and development firm based in San Diego, California. As its’ core mission, the Company has embraced technology for sustainable and socially responsible solutions, in addition to using proptech and construction tech advanced applications to meet these goals. The Company is focused on acquiring attractive raw land primarily in Northern Baja California, often within driving distance from Southern California. The Company serves its shareholders by devoting considerable time and resources to seeking out the finest sites available and obtaining the necessary development permits to build a compelling portfolio of properties, which provide a diversity of investment and living options. Please visit: www.ila.company.
Safe Harbor Statement
The press release may include certain statements that are not descriptions of historical facts but are forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section21E of the Securities Exchange Act of 1934. These forward-looking statements may include the description of our plans and objectives for future operations, assumptions underlying such plans and objectives, and other forward-looking terminology such as “may,” “expects,” “believes,” “anticipates,” “intends,” “projects,” or similar terms, variations of such terms or the negative of such terms. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements made herein. Such information is based upon various assumptions made by, and expectations of, our management that were reasonable when made but may prove to be incorrect. All of such assumptions are inherently subject to significant economic and competitive uncertainties and contingencies beyond our control and upon assumptions with respect to the future business decisions which are subject to change. Accordingly, there can be no assurance that actual results will meet expectation and actual results may vary (perhaps materially) from certain of the results anticipated herein.
CONTACT:
Investor Relations:
Brooks Hamilton
MZ Group – MZ North America
(949) 546-6326
ILAL@mzgroup.us
www.mzgroup.us
