GREEN VALLEY, AZ--(Marketwired - Mar 26, 2014) - Cannabis Global Group ("CGG"), a division of Talisman Holdings, Inc. (OTC: TMHO) ("Talisman" or the "Company") announced that it has agreed to lease 35 acres of Routt County, Colorado growing land that is currently in use for agricultural purposes. The term of the lease is for 5 years, with ten 5-year extensions. The land has an artesian well with 85 degree water, and has natural gas available.
Cannabis Global Group intends to develop a 100,000 square foot state-of-the-art growing and processing facility on the property. With this agreement, Cannabis Global Group has begun the rollout of its core business strategy of entering the production and cultivation of the legal marijuana business. Closing of this transaction has not occurred and is subject to customary conditions including, but not limited to, negotiation and execution of definitive documents.
CCG President, Dr. Warren Frayer, stated, "Colorado has already experienced a significant increase in recreational marijuana sales since January 1, and there is a shortage of product to meet demand. There is a definite need for additional production, and we are addressing this situation and we expect impressive results."
Additionally, the Company's board of directors is formalizing a plan for recapitalization of the Company's share structure including restricted stock retirement by certain insiders as well as a stock dividend of one additional share for each share currently held. The Company looks forward to providing regular updates on its progress.
About Talisman Holdings
Talisman Holdings, Inc. is a highly innovative holding company built on the belief that the world's greatest potential for financial growth lies in emerging companies. Talisman Holdings searches for undervalued small and microcap businesses with breakthrough products, services and technologies with explosive growth potential and delivers the equity, financial guidance, strategic counsel, consulting and business functions they need in order to succeed in the public marketplace. Taking an ownership or equity stake in standout emerging growth companies grows the asset base and drives shareholder value for Talisman Holdings, and the diversified holding company organizational structure and range of industries provides diversity of risk. For more information please visit Talisman's website at www.talismanholdings.com.
About Cannabis Global Group
Cannabis Global Group, a business unit of Talisman Holdings, Inc. is focused on the explosive and emerging legalized marijuana industry. Accordingly, it is designing an infrastructure to capitalize on this emerging American business. The company has targeted this market based on a belief that legalization of marijuana in most states and at the federal level is inevitable. In addition to its own activity, the company is uniquely qualified and positioned to be of assistance to others by providing financing, consulting, acquisition direction, strategic planning advice, ancillary products, marketing communication campaigns and agricultural enhancement. Industry dynamics make Cannabis Enterprises Group a compelling opportunity.
This summary contains forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the Company's business plans. Such statements are based on management's current expectation and are subject to a number of factors and uncertainties, such as future economic conditions and changes in anticipated revenues and costs, which may cause actual results to differ materially. Also, these forward-looking statements may involve a number of risks and uncertainties, including (i) all of the risks and certainties associated with a start-up or development stage business; (ii) the Company's present lack of capital and its ability to obtain capital as needed; (iii) intense competition for products and services; (iv) the timely development and market acceptance of the Company's products and technologies; and (v) the successful integration of acquisitions and lines of business. The actual results that the Company achieves may differ substantially from any forward-looking statements due to such risks and uncertainties. The Company expressively disclaims any future obligation or undertaking to update or revise any forward-looking statements contained herein. Investors and potential investors should independently investigate and fully understand all risks before making investment decisions.