Medican Enterprises Inc (OTCMKTS:MDCN), a leading biopharmaceutical company and merchant bank has decided to expand its leasing and real estate capabilities to California. Amongst many other initiatives, the company has closed a leasing agreement with Breeding Rare Cannabis Original Genetics Inc.
Where This Agreement Will Lead To Both The Companies:
As per the information made available by Medican, Breeding Rare Cannabis Original Genetics Inc. owns a host of outdoor greenhouses, indoor warehouses, and second to none R&D Properties. As Medican and Breeding have entered into a leasing agreement, the former will lease its indoor and outdoor properties to Medican for as much as $9000 per month. Under the terms of this agreement, Breeding will lease out its properties for at least five years term. The company has the right to extend this tenure for another five years, provided the minimum terms are met.
When it comes to lease improvements, Medican will look forward to providing the same by way of equipment, financing and grow technologies.
The senior management of Breeding Rare Cannabis Original Genetics is delighted to have entered into this agreement. According to R. White, Chief Executive Officer, Breeding Rare Cannabis Original Genetics, Medican Enterprises Inc (OTCMKTS:MDCN) is one of the leading biopharmaceutical companies in the world. It’s a proud moment for the company to secure a leasing agreement with Medican. The synergy that this association brings will help the company enhancing the productivity of its R&D and production businesses.
The targeted property is situated in the Anza area of California. It’s the first project among several that the company has planned to execute over the coming months. In 2014, the overall cannabis market was worth $2.7 billion in U.S., 74% more than the year before. With California sharing 49% stake in the cannabis market, Medican doesn’t want to leave any stone unturned to be a part of this exponential growth.