Player's Network's Subsidiary Green Leaf Farms Obtains Final Approval for Licensing
Nevada Governor signs Bill 276 allowing Green Leaf to relocate to an existing building that will create revenue several months earlier than planned.
Las Vegas, June 23, 2015 (Newswire.com) - Player’s Network, Inc. (OTC: PNTV), a vertically integrated, diversified, fully reporting public company operating two complimentary portfolios of Media and Medical Marijuana, announced today that with the passing of Bill 276 MME licenses holders are allowed to relocate within its jurisdiction. Previously the law prohibited MME licenses to move more than 5 miles. In the case of Green Leaf Farms, the original granted licenses were on a lot for development in APEX, a master planned industrial park. APEX was not able to commit firm dates for utility services such as water and power. Therefore, Green Leaf contracted to lease with an option to buy a 22,000 sq. foot building in North Las Vegas, that was already an approved zoned location for medical marijuana facilities. This was done in anticipation of the Bill 276 as the location is 17 miles from the original approved location.
The terms of the lease that Green Leaf Farms has contracted is three years with a purchase option. The building allows for addition expansion to be approximately 38,000 square feet. Green Leaf will allocate 5,000 square feet to its production business and the remaining to be allocated to cultivation and common areas.
Player’s Network C.E.O. Mr. Bradley commented: “I would like to take this opportunity to personally thank Senator Richard Segarbloom who spearheaded this bill, allowing Green Leaf and others to move ahead in the development of their business within the jurisdiction intended. As with anything new, there needs to be flexibility to address the real challenges in launching a new industry for Nevada. Bradley adds, now that we are over this final licensing hurtle, we will be beginning our design phase and more updates will be coming shortly. This facility will create significant revenue and jobs in North Las Vegas and we are sincerely looking forward to when we can commence production.” Expect an indebt shareholder update with in the week that will cover other positive corporate developments and discus what the company is doing to reduce the convertible notes that has been pressuring our market.
About Player’s Network:
Player’s Network is a diversified company with holdings in both Media and Medical Marijuana. The Company uses its proprietary Enterprise Web Platform to develop Branded Digital Lifestyle Television Networks for itself and its partners in a wide range of lifestyle categories. Player’s Network’s current original channels, “Player’s Network”, “Vegas on Demand”, “Real Vegas TV”, focus on the Las Vegas and Gaming Lifestyles. These channels are distributed over PNTV’s owned and operated VOD Channels on TV in over 23,000,000 homes over Comcast, its Broadband Network and Mobile Platforms, on Hulu, Google, YouTube, Blinkx and Yahoo Video, on DVD, and through worldwide television syndication. The Medical Marijuana assets are primarily through the Company’s 80% ownership in Greenleaf Farms Holdings, and PNTV’s newest channel, “WeedTV.com, which focuses on the rapidly expanding cannabis community. For more information please visit www.playersnetwork.com.
Statement under the Private Securities Litigation Reform Act:
With the exception of the historical information contained in this Release, the matters described herein contain forward-looking statements that involve risk and uncertainties that may individually or mutually impact the matters herein described, including but not limited to: the ability of the Company to increase revenues in the future due to the developing and unpredictable markets for its products, the ability to achieve a positive cash flow, the ability to obtain orders for or install its products, the ability to obtain new customers and the ability to continue to commercialize its products, which could cause actual results or revenues to differ materially from those contemplated by these statements.
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