Zoned Properties Issues Year End Shareholder Update
SCOTTSDALE, Arizona, Dec. 18, 2014 /PRNewswire/ — Zoned Properties, Inc. (ZDPY) a lessor of land, facilities and equipment to licensed medical marijuana operators has issued a year-end shareholder update.
The company is pleased to announce updates regarding its senior leadership team and long-term operational strategy. Bryan McLaren, Chief Executive Officer, is excited to bring together a Board of Directors with an extensive background in business and leadership to help drive the future growth of the company. Mr. McLaren has successfully recruited Irvin Rosenfeld, Art Friedman, and Alex McLaren to join him on the Zoned Properties Board of Directors. The team is currently speaking with prospective candidates to fill the fifth board position. Our new Board of Directors includes leaders with vast experience from the medical marijuana advocacy movement, the alcohol distribution industry, and the field of medical research.
In addition, the company has signed agreements with Laura Anthony, ESQ to represent the company as SEC Counsel, along with Adam Wasserman, CPA to manage the preparation of the company’s financial statements. Mr. McLaren stated, “We have worked hard to build an experienced leadership team at Zoned Properties that will support our mission to create a company based on transparency and integrity – I’m proud to know that this team believes in the vision for the future for Zoned Properties.”
The company would like to announce the hiring of Michael Iacono, who will lead our Business Development team. Mr. Iacono comes to the company as a licensed real estate broker that will assist the company in expanding its operations on a national level. As the industry progresses into other states, he will be tasked with building the company’s backlog of opportunities. Currently, he will work to set up a Zoned Properties presence in Florida, expanding the operational network.
Zoned Properties recently reported unaudited third quarter financials, in which it showed $10.5 M in assets including $9M in real estate and equipment. Those assets primarily represent five properties acquired in Arizona and New Mexico. At present time, four of the five properties have state-licensed medical marijuana operators signed to ten-year lease agreements. Each licensed tenant is currently operating and paying rent to Zoned Properties.
The company is evaluating expansion projects in Oregon and Washington, as well as additional projects in Arizona and New Mexico. Mr. McLaren added “I am inspired by what our team has accomplished to date and by what we plan to accomplish in the coming months and years. We will continue recruiting top talent to join our team and strategically expand our property portfolio. The Board of Directors is pleased with the company’s third quarter profits and outlook as we continue to expand aggressively in 2015. Our brand name and leadership position within the industry gives us the ability to work with some of the most sophisticated operators on a national scale. We will continue to form these strategic relationships and successfully bring real assets to market with long-term revenue.”
About Zoned Properties, Inc. (OTC Pink: ZDPY):
Zoned Properties, Inc. is a strategic real estate investment firm whose primary focus is acquiring commercial properties that face unique zoning challenges. Zoned Properties, Inc. will acquire commercial properties zoned within a variety of usage types such as industrial, agricultural, activity, performance or as well as mixed use. Zoned Properties, Inc. also targets commercial properties that can be acquired and potentially re-zoned for specific purposes. Zoned Properties does not grow, harvest, sell or distribute cannabis or any substances regulated under United States law such as the controlled substances act.
For more information please visit http://www.zonedproperties.com
FORWARD-LOOKING STATEMENT AND DISCLOSURE: This press release contains forward-looking statements, including expected industry patterns and other financial and business results that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the continuation of recent growth rates in the industry; the positioning of Zoned Properties, Inc. in the market; ability to integrate acquired properties and technology; ability to retain key employees; ability to successfully combine product offerings and customer acceptance of combined products; general market conditions, fluctuations in currency exchange rates, changes to operating systems and product strategy by vendors of operating systems; and whether Zoned Properties, Inc. can successfully execute their business plan. Actual results may differ materially from those contained in the forward-looking statements in this press release.
Investor Contact Information:
Zoned Properties, Inc.
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