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Labocanna wants to sell the property for PLN 12 million, more than twice the purchase priceLabocanna, a company from the hemp industry listed on NewConnect, decided to put up for sale its property in Koszalin for PLN 12 million, which is more than twice the purchase price. This will allow you to buy or rent a new property located much closer to the research institute with which it has recently established cooperation. It is a key issue of economic efficiency and from the point of view of cultivation supervision.

Labocanna is getting ready for a profitable transaction

The company decided to put up for sale its real estate in Koszalin – Hala Kupiecka, which functions as a fully leased shopping mall with an attractive mix of tenants operating there. The price for which the property will be offered is PLN 12 million and is more than twice the purchase price of this property.

– The research institute with which we started cooperation and the others with whom we are talking clearly indicate that permanent supervision over the cultivation must take place as close as possible to the seats of these institutes. Thus, the final place of implementation of the planned project must be determined by economic and practical factors related to the supervision of the cultivation and fulfillment of legal requirements related to the production of medical marijuana, including its quality control, protection and disposal. For this reason, we will be looking for areas much closer to research institutes– explains Dominik Staroń, president of the board of Labocanna.

In the opinion of the Company, the sale of real estate at the offered price will have a positive effect on its financial situation and will generate additional funds for the implementation of strategic plans, such as a larger scale of capital investments in entities from the cannabis industry.

The funds that we intend to obtain from the sale of real estate may exceed the amount of the investment more than twice. Naturally, we will allocate part of the amount to a new property in a much more convenient location in relation to research institutes. On the other hand, the remaining funds will support our development projects and perhaps enable them to be self-financed, without the need to use external financing. None of the elements of its development strategy announced by the Company will be abandoned by putting up its real estate for sale. – adds Dominik Staroń.

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