Benzinga | Oct 28, 2021 04:20PM EDT

UC Asset LP Announces Agreement To Provide Cannabis Real Estate Financing Through PURA Farmersville Hemp Brand COOP

UC Asset LP (OTC:UCASU) and Puration, Inc. (OTC:PURA) announced on Thursday that they had signed a letter of intent outlining terms for UCASU to finance the construction of PURA's Farmersville Hemp Brand facilities on PURA's 72-acre property in Farmersville, Texas.

UCASU also plans to provide financing to PURA's Farmersville Hemp Brand partners.

PURA has launched an initiative to build a cooperative of hemp growers and processors under one name, Farmersville Hemp, similar to the way that Sun-Maid Raisins collectively markets for growers all selling under one brand name.

Now, as part of UCASU's recently announced overall strategy to enter the cannabis real estate market, UCASU plans to finance the construction of the Farmersville Hemp Brand facilities. A definitive agreement is anticipated to be completed next week.

In addition, UCASU plans to partner with PURA to offer real estate financing to PURA's Farmersville Hemp Brand partners.

PURA has already established Farmersville Hemp Brand partnerships with North American Cannabis Holdings, Inc. (OTC:USMJ), PAO Group, Inc. (OTC:PAOG) and Alkame Holdings, Inc. (OTC:ALKM).