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Primco Enters Into Agreement to Acquire Fully Licensed Seattle Based Medical Marijuana Co-Operative and Tier I Production Facility
2014-03-19 06:35 ET - News Release
Company Plans for Immediate Expansion of Production Facility and Launch of "My Suzie Q's" Brand
LOS ANGELES, March 19, 2014 /PRNewswire/ -- Primco Management Inc. (OTCQB: PMCM), a fully integrated multi-media entertainment and real estate development company, today announced that the Company has entered into an agreement to acquire Seattle based Suzie Q's (www.mysuzieqs.com), a medical marijuana collective fully licensed by the City of Seattle. Suzie Q's has been in operation for more than 4 ½ years and serves over 1,500 patients. The Agreement calls for the purchase of 100% of the assets of the Co-op as well as the purchase and transfer of a Tier I Production License granted by the Washington State Liquor Board.
"The acquisition of Suzie Q's, one of the first fully licensed facilities in Seattle, gives us a base of operations which tie in perfectly with our plans in nearby Vancouver," stated David Michery, CEO. "Once we complete the acquisition of Suzie Q's, we believe that we can significantly increase the current revenue stream over the next few months. Primco is in the early stages of establishing a massive marketing campaign to launch our new brand. By delivering the highest quality medicine at competitive levels, the Suzie Q's brand will grow to become one of the most trusted names in medical cannabis."
Primco will file an 8-K detailing all material events of the transaction including licensing, permits, tax forms and pending applications.
About Primco Management Inc.: Through its wholly-owned subsidiaries, ESMG Inc., Top Sail Productions and D & B Music, Inc., the Company operates as an integrated entertainment company with divisions in music and film production and distribution. Primco also operates in various aspects of the real estate industry. (For additional information, visit www.primcousa.com).
Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.
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