Indie Growers Association Subsidiary Announces Letter of Intent With Fourdub LLC
CARSON CITY, NEVADA–(Marketwired – Nov 3, 2014) – Indie Growers Association (UPOT) is pleased to announce that its wholly owned operating subsidiary, River Ridge Sunshine Farms LLC, has signed another Letter of Intent (LOI) to sublease a parcel of land at its Prosser, Washington, property. Fourdub LLC, a Washington State grower from Walla Walla, intends to enter into a formal agreement for a 10 year renewable lease with River Ridge Sunshine Farms. The lease rate will be $9.52 per square foot of garden canopy for a total income of approximately $200,000 per month. The proposed leased parcel will consist of fenced land with private gated access, approximately 1,500 square feet of warehouse space, 21,000 square feet of garden canopy, and a security camera system.
About River Ridge Sunshine Farms LLC
River Ridge Sunshine Farms LLC is a wholly owned subsidiary of Indie Growers Association. It holds a 10 year, renewable lease on a 14 parcel agricultural property in Prosser, Washington. One of the parcels has already been subleased to a licensed medical marijuana grower who is awaiting final approval of its Tier 3 license. Two additional parcels have now been reserved by other growers under Letters of Intent. River Ridge Sunshine Farms LLC intends to sublease all of the parcels to licensed marijuana growers.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, including the Company’s beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company’s filings with the Securities and Exchange Commission, including its most recent Forms 10-K and 10-Q. The Company forecasts provided above are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public. This news release has been issued by the Company as required by law and per the Company’s listing and reporting obligations.
Indie Growers Association Inc.
Robert Coleridge, President
1 (888) 648 0488
1 (206) 400 7569
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