Monarch America Inc (OTCMKTS:BTFL) reported that it finalized a Management Services Agreement with Greensky Inc. a firm establishing a marijuana grow operation in State of Colorado. It is currently about to complete a new state-of-the-art indoor medical and recreational pot cultivation facility that is exclusively designed and made by Monarch America. The construction at the Denver location is expected to complete within next 2-3 weeks with the necessary licenses and permits received by the company within 30 days.
As per the Agreement, Monarch will manage all facets of grow facility, distribution, and operations tasks relating, directly or indirectly, to both medical and recreational pot and marijuana related products,. The list of operations includes growing, property management, equipment and technology leasing, inventory control, logistical devices, staffing, day-to-day operations and many others. The exclusive Agreement is valid for a term of three years.
Eric Hagen, the CEO of Monarch said that they have been working together with Greensky on marijuana grow facility from last several months. The management believes the Greensky facility to be one of its own kinds. The design and engineering operations are being managed by Monarch America and the equipment is supplied by the company’s The Big Tomato Division. The new facility will be managed by the company for the next three years. It indicates that there is adequate time to generate considerable management fees each month from the key project.
Monarch America Inc (OTCMKTS:BTFL) will record and analysis the success of the recently signed project and on the basis of its performance will look to expand the business strategy will other new and existing cultivation facilities. The company intends to sign similar management and consulting projects in the future.
In last trading session, the stock price of Monarch America declined more than 3% to close the trading session at $0.0919.