PRRE Praetorian Property Inc (CE)

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549
____________________

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 4, 2014

 

Cannabis-RX, Inc.

(Exact name of registrant as specified in its charter)

 

Delaware	333-178482	30-0693512
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

 

7702 E Doubletree Ranch Rd. Ste 300, Scottsdale AZ	85258
(Address of principal executive offices)	(Zip Code)

 

Registrant’s telephone number, including area code: 480-902-3399

 

___________________________________________________ (Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

[]	Written communications pursuant to Rule 425 under the Securities Act (17CFR 230.425)
[]	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[]	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[]	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Item 8.01 Other Events.

 

On December 4, 2014, Cannabis-Rx, Inc. issued a press release concerning the acquisition and sale of properties and other developments. The press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

 

The information in Item 8.01 of this Current Report on Form 8-K (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.	Description
99.1	Press release dated December 4, 2014

  

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	Cannabis-Rx, Inc.
Date: December 4, 2014	By: /s/ Llorn Kylo
	Name: Llorn Kylo
	Its: President and CEO

 

Cannabis-Rx Provides Business Activity Update for Second Half of 2014

 

Adds eight investments to portfolio

 

SCOTTSDALE, Ariz.—(December 4, 2014)—Cannabis-Rx (CANA) opportunistically acquires, rehabilitates, sells and leases distressed real estate. The Company also caters to the property needs of the regulated cannabis industry, in states where such business is licensed and permitted. The Company today announces that in the second half of 2014 it acquired eight properties for an aggregate of $3.5 million. The properties are located in Washington, Colorado, Michigan, Florida and Arizona.

 

Cannabis-Rx acquired a 22,570 square foot warehouse located in Aurora, Colorado, which is properly zoned for a marijuana dispensary pursuant to the laws of the State of Colorado. Since July 1, Cannabis-Rx has sold 14 properties for total proceeds of $6,150,650. None of these properties were affiliated with the cannabis industry. The gross profit to the Company in relation to those sales was $619,879. The properties were located in Florida, Washington, California and Illinois.

 

“We continue to make solid progress selectively acquiring distressed properties at a significant discount to replacement cost and leveraging our proven real estate expertise to unlock incremental value,” said Llorn Kylo, Chief Executive Officer of Cannabis-Rx. “We remain confident in our ability to maximize the value of the properties in our portfolio and we are very positive on the fundamentals driving the growth of the regulated cannabis space. With recent voting efforts successfully legalizing cannabis for recreational use in Oregon and Alaska on the state level and allowing possession for recreational use in Washington D.C., we are closely evaluating investment opportunities in those regions.”

 

Cannabis-Rx’s current portfolio consists of 31 properties located across Arizona, Washington, California, Florida, Illinois and Michigan. 11 properties are currently listed for sale, five are under contract to be sold, 14 are in the process of being rehabilitated, and one is leased.

 

About Cannabis-Rx, Inc.

Cannabis-Rx (CANA) opportunistically acquires, rehabilitates, sells and leases distressed real estate. The Company also caters to the property needs of the regulated cannabis industry, in states where such business is licensed and permitted. In addition to strategically purchasing properties at a significant discount to replacement cost and rehabilitating the assets to enhance their value, the Company provides licensed cannabis-based businesses with capital and real estate opportunities to advance their growth objectives. The Company does not, nor does it intend to, grow, distribute or sell cannabis. For additional information, please visit www.cannabis-rx.co

 

Contact:

Cannabis-Rx, Inc.
Phil Denning and Jason Chudoba, 203-682-8200
cannabisrx@icrinc.com
cannabis-rx.co