IJJ Corporation (IJJC) announces the
completion of negotiations and closing of transactions in which it
acquired contractual rights to receive income from two separate
medicinal marijuana farming operations, of $2,000,000 and $100,000
annually, in perpetuity.
SILVER SPRING, Md. - December 19, 2014 - InvestorsHub
NewsWire - IJJ Corporation (IJJP.PK)
was able to on Friday, November 27, 2014, completed its
negotiations and closed transactions in which it acquired a
contractual right to receive income from two separate medicinal
marijuana farming operations, of $1,990,625 and $109,688 annually,
in perpetuity. The Company, along with five other publicly traded
companies, bought into and became a beneficiary of contracts
(
Suite of Services/Funding/Rental
Agreements) with the World of Marihuana Productions Ltd.
(the “WOM Agreement”) and with
Michigan Plant Technologies LLC
(the “MPT
Agreement”). The contracts will be available for reviewed on
our website, at Cannabisheadliners.com within two weeks.
This transaction was approved by a court of competent jurisdiction
following a fairness hearing. We were able to acquire
$2,100,313 of annual income in exchange for stock to be delivered
in the future, over time, currently worth, $1,466,400 at today’s
price.
The value of the stock to be
conveyed by the Company is less than one year’s income, even though
the income to be paid pursuant to the contracts is to continue for
as long as the marijuana farms continue to operate.
Company’s management feels that entering into such multi-year
agreements in return for shares of the Company is a great
opportunity. As a result of our involvement in the financing of
this project, it is our opinion that we will be in line for other
similar projects in the medicinal marijuana field.
Collectively, the total of the periodic contract payments,
annually, provided for in the MPT Agreement and the WOM Agreement,
are $11,375,000 and $731,150, respectively, referred to herein as
the “Property Interests”. The contracts also require that the
investors from whom the Property Interests were acquired (in
exchange for the stock) pay, collectively, to construct the farms
and the facilities $3,500,000 and $750,000 respectively. None of
the five publicly trading issuers are obligated for these payments
to facilitate the construction of the facilities for the growing of
medicinal marijuana, that being the responsibilities of the
investors. Following the execution of all of these agreements, the
investors remain liable for their portion of these obligations and
the issuers will receive the income amounts or Property Interests.
Until the investors’ obligations are paid in full, 90% of any
and all amounts realized are placed in escrow, to assure that the
farms and facilities are constructed.
Once the construction process of the farming operations commences,
the
WOM and MPT principals will
provide weekly updates, including photographs of the progress.
J. Udesky, Manager of Michigan Plant Technologies (MPT)
LLC, explained that “We are thrilled that Green Science
was able to put together its own brand of ‘crowdfunding’ with this
unique group of public companies (Tykhe Corporation (formerly,
Halberd Corporation, a Nevada corporation, “HALB”), Gear
International (“GEAR”), Fuzznbuzz Brands, Inc., a Colorado
corporation (formerly, Central Wireless, Inc., “CWIR”), National
Properties Trust (formerly, Encounter Technologies Inc., “ENTI”), a
Colorado corporation, Texas Wyoming Drilling (“TWDL”), and IJJ
Corp. (“
IJJP”)
to complete our fund raising for this project”. MPT’s J. Udesky
further explained “this project will create the funds that we need
to keep our local labor and food shed projects intact. Therefore,
we were perfectly content with giving away the vast majority of the
profit to these funding companies, in order to secure the necessary
construction financing to expand our operation.”
Josh Alper of Green Sciences explained that “the output from a
single grow container equals that of 1.5 acres of an outdoor
facility, without the hazards of weather and pests, and without
pesticides or the hazards of mother-nature. 50 grow containers
occupy approximately 1000 square feet of grow space. The fact that
the growing season is so short in Michigan, coupled with growing
concerns fueled by global climate change, we think that vertical
farming is the future for all types of crops. This project will
employ the latest features of Green Science’s R&D Facility.”
About Michigan Plant Technologies, LLC
MPT uses cargo containers and truck trailers to create safe and
predictable growing environments for herbs, lettuces, and a variety
of crops and is committed to growing the highest value produce
possible. MPT has been focused on indoor growing systems since
2010, conceived as an extension to the kitchen skills and food
pantry programs, MPT has a core mission to create opportunities for
persons with employment challenges in the Greater Chicago Foodshed
and beyond.
About Green Science Inc.
Green Science Inc. is an independent consulting company that can
assist in a full range of services including product development,
design/build - application to production, zoning & municipal
approvals, third party certification and testing services. The
current Green Science facility is a fully licensed food processing
facility and has all of the permits and licenses required to expand
into the use of grow containers. The facility is fully complaint
with the current “Caregiver” model in Michigan and currently
services patients in the Michigan Medical Marijuana Program.
About IJJ Corporation:
IJJ Corporation (IJJC) is an ambitious innovative company managing
a B2B network designed as a subscription base services for
affordable bundled private cloud networkable applications,
standalone software application, and services. The Company's
objective is to continue to develop and integrate services and
products in order to provide the most comprehensive, cutting edge,
turnkey solutions and management services to its
clients
.
Forward-looking statement
This press release contains statements which may constitute
“forward-looking statements” within the meaning of the Securities
Act of 1933 and the securities Exchange Act of 1934, as amended by
the Private Securities Litigation Reform Act of 1995. Those
statements include statements regarding the intent, belief or
current expectations of the Company and members of its management
as well as the assumptions on which such statements are based.
Prospective investors are cautioned that any such forward-looking
statements are not guarantees of future performance and involve
risks and uncertainties, and that actual results may differ
materially from those contemplated by such forward-looking
statements. Investors are cautioned that due to the Company’s
acquisition of the right to receive income from marijuana farming
operations, an investment in this Company is extraordinarily risky,
involving a multiplicity of extreme risks, that in some respects
exceed that of any legal investment in the history of investing,
particularly given the conflict of laws and the potential
consequences of that conflict, including very substantial legal
risk of federal prosecution, penalty and imprisonment, as marijuana
is still classified federally as a Schedule 1 narcotic.
It is a felony, in violation of the Controlled Substances Act, to
distribute, cultivate or use marijuana; and the very comprehensive
federal and international anti-money laundering statutes,
including: Bank Secrecy Act (1970), Money Laundering Control Act
(1986), Anti-Drug Abuse Act of 1988, Annunzio-Wylie Anti-Money
Laundering Act (1992), Money Laundering Suppression Act (1994),
Money Laundering and Financial Crimes Strategy Act (1998), Uniting
and Strengthening America by Providing Appropriate Tools to
Restrict, Intercept and Obstruct Terrorism Act of 2001 (USA Patriot
Act [Title III of the USA Patriot Act is referred to as the
International Money Laundering Abatement and Financial
Anti-Terrorism Act of 2001]), Intelligence Reform & Terrorism
Prevention Act of 2004. At least a portion of these provisions
expressly include restrictions upon the use of the banking system
to transfer the proceeds of such investments, which could be viewed
as money laundering.
These violations are irrespective of the laws of
the jurisdiction in which the marijuana is produced,
since, at any time, despite its current position, the
Department of Justice could choose to prosecute the Company and its
officers, and all those who may be perceived to have aided and
abetted in this process. Accordingly, there remains a substantial
legal risk of federal prosecution, penalty, forfeiture and
imprisonment, and for a multitude of potential violations.
Additionally, the cost of assuring compliance and the costs
associated with otherwise normal business transactions, are
substantially enhanced by these circumstances. Risks also include a
very substantial strategic risk associated with lack of ownership
and consequent lack of control over the subject property and
operations, which lack of ownership and control is mandated by the
laws and regulations of the jurisdiction in which the marijuana is
grown.
The risks also include a very substantial economic risk, including
as a consequence of the foregoing recitation of other risks. It is
just such risks that that have prevented the growers from securing
any financing from other sources, over a substantial period of
time. Finally, given the extraordinary return on the investment,
there is even a risk of the financial arrangement being construed
as a “loan”, which may, at least arguably, not be exempt from
applicable usury laws, even though this financial arrangement is
not a loan, let alone a conventional loan, but is in the nature of
risk capital financing/provision of services and real estate and
that the contemplated compensation appears to be, and has been
represented by the pay oars to be commensurate with the
multiplicity and magnitude of the risks, including those as above
identified”.