The company entered into a joint venture with British Columbia-based CanMed Ventures on Feb. 24 to build and operate a 30,000-square-foot cultivation facility for the production of medical marijuana. Primco said it expects to be fully licensed within 6 months and generating first-year revenues exceeding $20 million.
This is just Primco Management’s latest move to develop various properties in order to lease them to companies growing or selling legal marijuana.
Also Acquiring Property in Los Angeles: On Feb. 12 the company said it also planned to initially acquire property in the greater Los Angeles area with subsequent plans to extend its operations to Western states where medical marijuana is permitted by state law. The leased facilities will meet all zoning and licensing requirements for the ongoing, legal dispensing of medical cannabis. Primco will not engage in the cultivation or sale of medical cannabis or any of its byproducts.