Denver, Colorado, Sept. 22, 2015 (GLOBE NEWSWIRE) -- FutureLand Corp. (OTC: FUTL), a leading provider of strategic real estate investment and grow facilities and material solutions to the global cannabis industry, today announced that it has signed a Memorandum of Understanding to acquire 35% of Raw Essentials International LTD ("REI"), a Jamaican Cannabis Company. The agreement involves all REI enterprises including bottling, growing, production, research and development, security, management and a heavy emphasis on extractions. HempTech and CB Scientific will also have major roles in this agreement. The MOU is signed to encourage greater economic relations and to facilitate domestic and bilateral trade.
REI is helmed by US cannabis grow expert and award winning grower, Brett Bogue. Mr. Bogue, who has been dubbed "The King of Kush", who has spent substantial resources in Jamaica over the last couple years in preparing for the legalization of cannabis. On 25 February 2015, the Jamaican House of Representatives passed a law decriminalizing possession of up to 2 ounces of cannabis. The new law includes provisions legalizing the cultivation for personal use of up to 5 plants, as well as setting up regulations for the cultivation and distribution of cannabis for medical, tourism, religious purposes and natural growth. While Jamaican tourism is a large boon for the industry as it gains traction, so too are the importing and exporting of products to the entire world.
"Within this industry few things have the kind of sizzle and opportunity that being in Jamaica provides," said Cameron Cox, President and CEO of FutureLand Corp. "We believe this is a significant opportunity for FutureLand, FutureWorld (FWDG) and our shareholders. Jamaica has long been hailed the underground capital for cannabis, but now the country is setting its sights on an international standard of commerce related to all things cannabis. A standard that everyone else will look to model. We will do whatever we can to establish this foundation going forward and to support the country in this global enterprise."
FutureLand Corp will purchase 35% of REI and provide funding for the many separate business arms now under its canopy. The purchase will be completed with a combination of FutureLand common stock and a convertible note, both of which are subject to the holding provisions of SEC Rule 144. Revenues will flow to FutureLand and will be reported on a consolidated basis. Additionally, FutureLand intends to create new paths of business within the landscape that are now being explored.
"We view the partnership with FutureLand Corp to be the thrusters beneath the momentum we have been building. Presently, the last pieces are being affixed and licensing is imminent," said Bret Bogue, President of Raw Essentials International, LTD. "The only thing left to do is lift off!"
About FutureLand Corp
FutureLand Corp., a Colorado company, is a cannabis and hemp specialty zoned land leasing company formed to capitalize upon the emerging global cannabis market. FutureLand, focuses on target acquisition, zoning, license fulfillment, site plan preparation and financing of cannabis or hemp grow facilities throughout the United States. We give growers the opportunity to grow. We monetize through leasing the land, leasing the structures on the land, financing interest revenue and management fees associated with cultivation centers. FutureLand retains ownership of all the land and the structures. FutureLand leases to both medical marijuana, retail marijuana as well as industrial hemp growers. FutureLand does not currently grow, distribute or sell marijuana. To request further information about FutureLand, please email us at info@futurelandcorp.com, log onto our website at http://www.futurelandcorp.com, or visit us on FB @ futurelandcorp and Twitter @futurelandcorp.
About REI
Raw Essentials International ("REI") has been established specifically to capitalize on the new Jamaican cannabis legislation. Ultimately, REI will be comprised of several, vertically integrated operating units as listed below:
Licensed cultivation, production, and distribution of cannabis products
Licensed Research & Development for commercially-viable cannabis-based treatments
Medical Tourism
Education and training in the science and business of cannabis
Consulting to the Jamaican government, cannabis farmers and industry vendors
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