American Seed & Oil Company Secures Financing To Build New Medical Marijuana Grow Facility
Multi-Room Indoor Grow Facility With Client Reception and Waiting Area
Dallas, TX / Jan 7, 2015 / Algae International Group, Inc. (OTC: ALGA), through its operating subsidiary American Seed & Oil Company, today announced having secured financing to construct a new facility to grow medical marijuana in the State of Maine. The Company has previously announced plans to expand an existing medical marijuana operation in the State of Maine. The financing announced today will enable the previously announced expansion with the construction of a multi-room indoor grow facility to include a client reception and waiting area. A private lender has agreed to provide funds secured by the facility and the forecasted performance of the grow operation.
Look for more information on the State of Maine operation to be published on the Company website in the near future: www.americanseedandoil.com
Vermont Hemp Operations
In addition to the medical marijuana operations in the State of Maine, the Company announced in October 2014 that it had conducted the largest legal hemp harvest within the State of Vermont in nearly 60 years.
The Company recently secured commitments from farmers in the State of Vermont that could potentially enable cultivation of 1,000 acres of hemp in 2015. The Company continues to work in building interest from farmers through out the State over the winter season to attract grow partners to increase total Hemp acreage to be cultivated in the upcoming season.
Steven Rash, the CEO of Algae International Group, Inc. commented, “In addition to our operations in Vermont and progress in New York, we are very pleased to announce the filing of an application to potentially expand our Hemp operations into the State of Kentucky. The possible expansion into Kentucky will assist in expanding our Industrial Hemp production, and increase inventories for processing the hemp biomass into CBD oil and other refined products”.
To inquire about different prospects for farmers in entry into hemp production, or wishing to explore joint venture or turnkey grower equipment solutions within Vermont, please contact us at http://www.americanseedandoil.com/vermont-farmer/
About Algae International Group, Inc.
Algae International Group, Inc. (OTC: ALGA), through its operating subsidiary American Seed & Oil Company, Inc., is in the business of hemp production in Vermont to supply seed to the expanding hemp farming market, hemp based consumer products market, and hemp based construction material market. The Company is also piloting a number of other cannabis related products. For more information please visit www.americanseedandoil.com
Follow the company on Twitter: http://twitter.com/US_HEMP
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and as such, may involve risks and uncertainties. These forward looking statements relate to, amongst other things, current expectation of the business environment in which the company operates, potential future performance, projections of future performance and the perceived opportunities in the market. The company's actual performance, results and achievements may differ materially from the expressed or implied in such forward-looking statements as a result of a wide range of factors.