Dallas, Texas, Oct. 28, 2021 (GLOBE NEWSWIRE) -- UC Asset LP (OTCQX: UCASU) and Puration, Inc. (OTC Pink: PURA) today announced entering into a letter of intent outlining terms for UCASU to finance the construction of PURA’s Farmersville Hemp Brand facilities in Farmersville, Texas. UCASU also plans to provide financing to PURA’s Farmersville Hemp Brand partners.
PURA has launched an initiative to build a cooperative of hemp growers and processers all selling under one brand name, Farmersville Hemp, similar to the way that Sun-Maid Raisins collectively markets for growers all selling under one brand name.
Last year, PURA acquired from UCASU the 72 acre property where the Farmersville Hemp Brand facilities will be constructed. Now, in conjunction with UCASU’s recently announced overall strategy to enter the cannabis real estate market, UCASU plans to finance the construction of the Farmersville Hemp Brand facilities. A definitive agreement is anticipated to be completed next week.
UCASU also plans to partner with PURA to offer real estate financing to PURA’s Farmersville Hemp Brand partners.
PURA has already established Farmersville Hemp Brand partnerships with North American Cannabis Holdings, Inc. (OTC Pink: USMJ), PAO Group, Inc. (OTC Pink: PAOG) and Alkame Holdings, Inc. (OTC Pink: ALKM).
Look for more information on UCASU and PURA’s real estate partnership plans next week with the anticipated announcement of a definitive agreement.
About UC Asset LP
UC Asset LP is a limited partnership formed for the purpose of investing in real estate with innovative strategies, concentrating in metropolitan areas of Atlanta, GA. For more information about UC Asset, please visit: www.ucasset.com
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