LOS ANGELES, March 10, 2014 /PRNewswire/ -- Primco Management Inc. (PMCM), a fully integrated multi-media entertainment and real estate development company, today announced that the Company has amended its agreement with CanMED Ventures regarding the planned 30,000 square foot medical marijuana cultivation facility, whereby Primco will own 100% of the building, land and equipment and has granted CanMED a 10-year management contract for the operation of the Joint Venture.
"The amended agreement with CanMED allows Primco to execute on its new direction of ownership of real estate assets related to the medical cannabis," stated David Michery, CEO. "We have plans this week to view a number of properties in southern British Columbia and expect to announce a land acquisition in the next few weeks. Granting CanMED a 10-year management agreement displays our confidence in David Irwin and his team and gives Primco the freedom to expand our presence under similar arrangements with other medical marijuana producers. We look forward to completing this initial venture in the very near future and will keep our shareholders informed of these very exciting developments as they occur..."