Business
Generation Alpha Inc (OTCMKTS:GNAL) Acquires 46,000 Sq. Ft. Facility With SUP In Arizona For $3.5 Million: Enters The Legal Medical Cannabis Market In The US
Generation Alpha Inc (OTCMKTS:GNAL) established its presence in the US’s medical cannabis industry with the takeover of Arizona based 46,000 Sq. Ft. with Special Use Permit. The new facility is situated close to Sky Harbor International Airport in Phoenix and facilitates the processing and cultivation of cannabis for medicinal use.
Takes over a company in Arizona
Generation Alpha acquired a company based in Arizona in 2018 to offer turnkey services for operation, administration, and management of a medical marijuana processing and cultivation facility. It is operating the facility under license from the Department of Health Sciences in Arizona on behalf of another entity. After ending the commercial license for an Arizona based facility earlier this year, Generation Alpha decided to purchase Arizona based facility with SUP for $3.5 million. Its operations will strengthen the balance sheet soon.
A lucrative deal
CEO of Generation Alpha, Alan Lien, said the company is excited to clinch a lucrative deal in Arizona. The facility also holds local permissions for cannabis cultivation and processing for medical use and helps Generation Alpha expedite its operations. According to Alan, Arizona holds excellent potential in the medical cannabis space.
Generation Alpha engages in providing solutions and products to cannabis growers in recreational and medical space in the legalized markets nationwide. Several growers in the US relied on lighting solutions offered by Generation Alpha to improve yields economically and achieve better ROI.
The client base of Generation Alpha comprises e-commerce, distributors, retail stores, and commercial growers. It commenced the expansion of touch plant side cannabis business in 2018.
Enters a pact with Seinergy LLC
Generation Alphas entered an alliance with an indoor agriculture LRP (lighting rebate provider) in the U.S – Seinergy LLC in February 2019. The deal helps the company offer savings of up to 40% for each light fixture. Alan said the pact with Seinergy allows the company to offer additional business solutions for the customers when it introduces an innovative B9 LED light system. Therefore, customers can save costs and improve their margins using both Seinergy and Generation Alpha’s services and solutions.
Seinergy allows the customers to get cashback grants for its energy-efficient grow lights from the local utilities. It is a win-win situation for customers and both firms.
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