LAKE FOREST, Il, Dec. 22, 2020 (GLOBE NEWSWIRE) -- Acquired Sales Corp. (OTCQX: AQSP) (www.AcquiredSalesCorp.com) announced today that its wholly-owned subsidiary Lifted Made, Zion, IL (www.LiftedMade.com), maker of hemp and hemp-derived products including CBD and delta 8 THC, has signed a five-year lease for a 11,238 square foot building located in Kenosha, Wisconsin, which represents a 94% increase in space that will be available for use by the rapidly growing hemp-derived cannabinoid products company. Under the terms of the net-net-net lease, Lifted Made will pay a base square foot charge of $6.13 per square foot per annum, with a 2% increase in rent each year during the term. The lease commencement date is January 1, 2021.
Under the terms of the lease, the tenant, Lifted Made, has the option to purchase the property at any time prior to December 31, 2025, and in any event, Lifted Made is obligated to purchase the property on or before that date.
Nicholas S. Warrender, AQSP’s COO and the CEO of Lifted Made, said, “Lifted Made is growing like crazy. We were just bursting at the seams at our 3,330 square foot facility in Zion, Illinois; so, in August, when the opportunity arose, we expanded into the bay next door to our rented unit, nearly doubling our footprint. But that additional space was still not enough. We needed more space for lab technicians, equipment, and manufacturing to keep up with the demand for our hemp-derived delta 8 THC and CBD products, and the space should allow us to handle inventory in relation to sales of tobacco-free nicotine pouches for SmplyLifted LLC, which we own 50-50 with SMPLSTC, Orange County, CA (www.SMPLSTCBD.com). Fortunately we found a perfect property in Kenosha, Wisconsin, and it could not be a better fit for our needs. The property has a great loading dock, we are in the process of building out different labs in the building for the production of various products, and there is more office space for our team. The interior’s just beautiful, and we’re excited to show it to our clients. Moreover, there is also air conditioning, which we don’t have in our Zion facility, and we’ll appreciate that during the hot summer days.”
The landlord of the property is 95th Holdings, LLC, an entity owned by Nicholas S. Warrender, AQSP’s COO and the CEO of Lifted Made. The terms and conditions of the lease were negotiated on behalf of Lifted Made by Vincent J. Mesolella, the Lead Outside Director of Lifted Made’s publicly traded corporate parent Acquired Sales Corp., and the CEO of Providence, Rhode Island-based real estate development company REI, Inc.
Vincent J. Mesolella, Lead Outside Director of Acquired Sales Corp., commented: “I am very pleased that we have executed a lease/purchase agreement with 95th Holdings, LLC. This new operating facility is expected to allow Lifted to expand operations in an orderly and more efficient manner. The work environment is always an important factor in worker satisfaction and morale. This facility will bring a real sense of pride to our workers. Most importantly, I believe the new facility does much to instill confidence in Lifted and create a very positive corporate image.”
About Lifted Made and Acquired Sales Corp.
Lifted Made was founded in 2015 by CEO Nicholas S. Warrender. In February 2020, Lifted Made became a wholly-owned subsidiary of publicly traded Acquired Sales Corp. (OTCQX ticker symbol AQSP). Lifted Made makes many delta 8 THC and other hemp and hemp-derived products, all of which can be purchased online at www.LiftedMade.com. Acquired Sales Corp. also owns 4.99% of CBD-infused beverage and products maker Ablis Holding Company, and of craft distillers Bendistillery Inc. d/b/a Crater Lake Spirits and Bend Spirits, Inc., Bend, Oregon. Also, Lifted Made has a 50% membership interest in SmplyLifted LLC, which plans to sell tobacco-free nicotine pouches. For more information about Acquired Sales Corp., visit www.AcquiredSalesCorp.com.
Cautionary Note Regarding Forward-Looking Statements Certain statements in this document are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such information includes the growth and profitability strategies, and future products and plans of Lifted Made and Acquired Sales Corp. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors which may cause or contribute to the actual results of Lifted Made’s and Acquired Sales Corp.’s operations or the performance or achievements of these companies differing materially from those expressed or implied by the forward-looking statements. Lifted Made and Acquired Sales Corp. undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. Actual results, performance or achievements could differ materially from those anticipated in such forward-looking statements as a result of certain other factors, including the risk factors set forth in Acquired Sales Corp.’s filings with the Securities and Exchange Commission.
CONTACTS:
Lifted Made
Attn: Nicholas S. Warrender, CEO
Phone: 224-577-8148
Email: CEO@LiftedMade.com
Website: www.LiftedMade.com
Acquired Sales Corp.
Attn: William C. “Jake” Jacobs, President and CFO
Phone: 847-400-7660
Email: JakeJacobs@AcquiredSalesCorp.com
Website: www.AcquiredSalesCorp.com