As quoted in the press release:
Future Farm and KOM-Agro will conduct this new business venture as co-owners of Natural Health Solutions, LLC (“NHS”), a limited liability company organized and existing under the laws of Puerto Rico.
NHS was previously granted a Pre-Qualification of License Approval for the construction, development and operation of an “Establishment for Medical Cannabis for Cultivation” in excess of 20,001 sq./ft. of area.
Complete and definite authorization to effectively operate the pre-qualified Establishment for Medical Cannabis for Cultivation is subject to the Puerto Rico Health Department’s final inspection once construction is complete and NHS is ready to start operations. NHS currently has until July 31, 2018 to apply for the Final Inspection of the Cultivation Facility. It is, however, a condition to Future Farm closing on this transaction that this date has been extended to December 31, 2018.