1CM Inc. Subsidiary Completes Sale of Tennessee Facility
Toronto, Ontario--(Newsfile Corp. - November 17, 2022) - 1CM Inc. (CSE: EPIC) (OTCQB: MILFF) (FSE: IQ70) (the "Company" or "1CM") announces that its subsidiary, Leviathan US, Inc., has completed the sale of its entire interest in the property located in Carthage, Tennessee, USA, together with all buildings, structures and equipment situated thereon (the "Tennessee Facility").
The aggregate purchase price for the sale of the Tennessee Facility is USD$3,000,000.00 (CAD$4,005,000.00), payment of which is being made via the assumption of a mortgage and the reduction of certain other Company debt. Any excess will be used for working capital purposes.
About 1CM Inc.
1CM Inc. is a multi-jurisdictional, multidimensional cannabis company focused on its retail customers and technology to democratize cannabis markets. Our vision is to be a leading cannabis company globally with solutions that add value to consumers and companies. The Company is focused on expanding its current operations through organic growth and by way of merger and acquisition transactions.
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Forward-looking statements are based on certain assumptions, including successful application to be a licensed cannabis producer and seller, expected growth, results from operations, performance, industry trends and growth opportunities. While 1CM Inc. considers these assumptions to be reasonable, based on information currently available, they are inherently subject to significant business, economic and competitive uncertainties and contingencies and they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.
Forward-looking statements also necessarily involve known and unknown risks, including without limitation, risks associated with general economic conditions, adverse industry events, marketing costs, loss of markets, future legislative and regulatory developments, the inability to access sufficient capital on favorable terms, the medical and recreational cannabis industry in Canada in general, income tax and regulatory matters, the ability of 1CM Inc. to execute its business strategies, competition, crop failure, currency and interest rate fluctuations and other risks.
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Source: 1CM Inc.
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