ATLANTA, Jan. 13, 2022 /PRNewswire/ -- UC Asset LP (OTCQX:
UCASU) management is cautiously optimistic that it may benefit from
Puration Inc.'s (OTC: PURA) $10
million revenue projection, which was announced yesterday in
a press release by PURA. UCASU holds substantial interests in
PURA, and is under an umbrella LOI to invest into cannabis
properties to be operated by PURA.
"We are encouraged to see the optimistic projection by PURA,
particularly from operation of its new Farmersville Hemp Brand,"
says Greg Bankston, managing partner
of PURA, "We are committed to invest into the real estate of
Farmersville Hemp Brand's facility, which is central to PURA's
updated business plan. However, the schedule and scale of our
investment will depend on PURA's implementation of a productive
business plan to construct such a facility and monetize from its
continuous operation. That PURA has set up a strategy to achieve
$10 million revenue is a solid step
to achieve our common business goal."
As a real estate investor, UCASU will not participate in the
daily management of either the construction or the operation of
said facility, besides providing capital and holding the title of
the property. If PURA's business plan succeeds, UCASU will
see increased return on its investment in this property, possibly
from increased rent or increased profit-sharing. And the value of
the property will continue to appreciate.
Besides direct return from the property, UCASU may also receive
income from PURA as an equity holder. Currently UCASU holds
approximately 7.5% equity of PURA, in forms of restricted stocks.
Although UCASU cannot sell those restricted shares in the near
future, it may receive dividend from those shares, if PURA realizes
profit.
UCASU announced a plan to expand its portfolio into cannabis
properties in the beginning of Q4, 2021, applying an investment
model similar to other industry leaders, such as Power REIT (NYSE:
PW). PW announced its cannabis investments in
February 2020. Its revenue has
doubled, and its share price has risen more than 7 fold since
then. Besides the Farmersville property deal with PURA, UCASU
has developed a pipeline of deals across several other states,
include Georgia, Florida, Oklahoma, Michigan and California.
Earlier this month, UCASU announced that it will seek to uplist
to the Nasdaq or NYSE exchanges, and will raise an additional
$10 million to $20 million through a combination of private
placements and public offering.
About UC Asset LP:
UC Asset LP is a limited partnership formed for the purpose of
investing in real estate with innovative strategies, concentrating
in metropolitan areas of Atlanta,
GA. For more information about UC Asset, please visit:
www.ucasset.com
Disclaimer:
This News Release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause our
actual results, performance or achievements, or industry results,
to differ materially from any these statements. You are cautioned
not to place undue reliance on any those forward-looking
statements. Except as otherwise required by the federal securities
laws, we undertake no obligation to publicly update or revise any
forward-looking statements after the date of this news release.
None of such forward-looking statements should be regarded as a
representation by us or any other person that the objectives and
plans set forth in this News Release will be achieved or be
executed.
For More Information Contact:
Christal Jordan | Executive
Director, UC Asset LP
cjordan@ucasset.com | 678-499-0297
View original
content:https://www.prnewswire.com/news-releases/ucasu-highlights-optimism-surrounding-its-investment-in-pura-farmersville-hemp-301460659.html
SOURCE UC Asset LP