Cultivation Technologies, Inc. Announces $32.7M Project Financing Commitment; Re-Launches CultivationTech.com on Historic “AUMA” Day in California

IRVINE, CA / ACCESSWIRE / November 8, 2016 / Cultivation Technologies, Inc. (“CTI”), an emerging leader in the California cannabis or marijuana industry, announced today the signing of a project financing commitment letter for up to $32.7M to build its Coachella, California facility. The company is also in discussions for an additional infusion of $11.2M via project equity and debt, which could satisfy certain conditions of the project financing while providing operating expenses until Cultivation Technologies, Inc. achieves a cash-flow positive state in 2017. Details of the project financing will be announced at closing, which is expected during Q4 2016.

Justin S. Beck, CEO & President of Cultivation Technologies, stated “today is historic for California and the United States. We fully expect the Adult Use of Marijuana Act (AUMA) to pass, which would position CTI within the California medical market and recreational market through our fully-permitted facility in Coachella. Legal cannabis or marijuana is here to stay.”

The Coachella, California “campus” would be the first facility in California to feature a conditional use permit allowing for cultivation, manufacturing, distribution, transportation, and testing – the entirety of the wholesale supply chain. The 6-acre, 111,500 square foot project will feature CTI’s ultra-premium brand of cannabis, Coachella Premium, with a variety of partnerships on-site under a brand license to cultivate and manufacture products under the Coachella Premium brand. The company expects to feature one of the first volatile-solvent labs in California on the heels of its sponsored legislation, AB 2679, which provides legal protection for permitted manufacturers throughout the state.

Investors may request a copy of Cultivation Technologies’ confidential 506(c) private placement memorandum by visiting the investor section of the newly re-launched CultivationTech.com.

MEDIA CONTACT

Michelle Guthrie

(888) 851-9802

michelle@cultivationtech.com

DISCLAIMER

This press release constitutes forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made. This press release and the information contained herein is not an offer to buy or sell securities and does not contain investment advice.

SOURCE: Cultivation Technologies, Inc.

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