LOS ANGELES, Feb. 24, 2014 /PRNewswire/ -- Primco Management Inc. (PMCM), a fully integrated multi-media entertainment and real estate development company, today announced that the Company entered into a Joint Venture agreement with CanMed Ventures, a British Columbia company, to build and operate a 30,000 square foot cultivation facility for the production of medical marijuana. The company expects to be fully licensed within 6 months. First year revenues are projected to exceed $20 million.
"This is the most exciting announcement in the history of Company," stated David Michery, CEO. "Primco has made a corporate decision to become a major player in the medical cannabis industry and the construction of a facility of this nature is the first step in building a $100 million company. We are extremely excited to be partnering up with CanMED, under the leadership of David Irwin, the company's CEO. As an experienced and successful project manager, David will be instrumental in the long term growth of our Canadian operations as well as providing the expertise needed to build state of the art facilities across North America. We are very fortunate to be working with David and his team and look forward to a long and very successful partnership."
The Joint Venture will produce and dispense legal medical cannabis to Health Canada patients in British Columbia. CanMED expects to complete the licensing process in the next few months, Construction is expected to begin once Primco secures a suitable location.
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