Atlanta, GA --
January 13, 2022 -- InvestorsHub NewsWire -- UC Asset LP
(OTCQX:
UCASU) management is cautiously optimistic that it may benefit
from Puration Inc.'s (OTC: PURA) $10 million revenue projection, which was
announced yesterday in a press release by PURA. UCASU holds substantial interests
in PURA, and is under an umbrella LOI to invest into cannabis
properties to be operated by PURA.
"We are encouraged to see the
optimistic projection by PURA, particularly from operation of its
new Farmersville Hemp Brand," Says Greg Bankston, managing partner
of PURA, "We are committed to invest into the real estate of
Farmersville Hemp Brand's facility, which is central to PURA's
updated business plan. However, the schedule and scale of our
investment will depend on PURA's implementation of a productive
business plan to construct such a facility and monetize from its
continuous operation. That PURA has set up a strategy to achieve
$10 million revenue is a solid step to achieve our common business
goal."
As a real estate investor, UCASU
will not participate in the daily management of either the
construction or the operation of said facility, besides providing
capital and holding the title of the property. If PURA's
business plan succeeds, UCASU will see increased return on its
investment in this property, possibly from increased rent or
increased profit-sharing. And the value of the property will
continue to appreciate.
Besides direct return from the
property, UCASU may also receive income from PURA as an equity
holder.
Currently UCASU holds approximately
7.5% equity of PURA, in forms of restricted stocks. Although UCASU
cannot sell those restricted shares in the near future, it may
receive dividend from those shares, if PURA realizes
profit.
UCASU announced a plan to expand its
portfolio into cannabis properties in the beginning of Q4, 2021,
applying an investment model similar to other industry leaders,
such as Power REIT (NYSE: PW). PW
announced its cannabis investments in February 2020. Its revenue
has doubled, and its share price has risen more than 7 fold since
then. Besides the Farmersville property deal with PURA,
UCASU has developed a pipeline of deals across several other
states, include Georgia, Florida, Oklahoma, Michigan and
California.
Earlier this month, UCASU announced
that it will seek to uplist to the Nasdaq or NYSE exchanges, and
will raise an additional $10 million to $20 million through a
combination of private placements and public offering.
About UC Asset LP:
UC Asset LP is a limited partnership
formed for the purpose of investing in real estate with innovative
strategies, concentrating in metropolitan areas of Atlanta,
GA. For more information about UC Asset, please visit:
www.ucasset.com
Disclaimer:
This News Release contains
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements involve known and unknown risks, uncertainties and other
important factors that could cause our actual results, performance
or achievements, or industry results, to differ materially from any
these statements. You are cautioned not to place undue reliance on
any those forward-looking statements. Except as otherwise required
by the federal securities laws, we undertake no obligation to
publicly update or revise any forward-looking statements after the
date of this news release. None of such forward-looking statements
should be regarded as a representation by us or any other person
that the objectives and plans set forth in this News Release will
be achieved or be executed.
For More Information
Contact:
Christal Jordan | Executive
Director, UC Asset LP
cjordan@ucasset.com |
678-499-0297