Atlantic County

Good Lease in Place, Build ot and OPEN Perfect for MSO.

Annual retail license in Atlantic County NJ, the Pinelands area. Active lease with landlord, who is also willing to sell the property. Property is also zoned for a cultivation or manufacturing license with a freestanding separate building behind the retail building. License rules for CRC: transfer shares in 49% and then 51% after two years of operations as per regulations with buyer taking full operational and financial control of the license as fast as possible.

Deal Structure:
Purchase Shares: The buyer agrees to purchase 49% of the retail cannabis license's shares upfront, with currnet license holder retaining 51% ownership in name only for a duration of 2 years (as per regulationary restrictions in NJ)

Buyer Operation: During the 2-year period, the buyer will operate the business and collect all profits, and have full
control over the business.

Escrow Payments:
Initial deposit: $70,000 to be deposited into escrow upon satisfactory completion of property review (as outlined below).
Additional deposit: $730,000 to be deposited into escrow within 3 days of CRC (New Jersey Cannabis Regulatory Commission) approval. 80% of the money is escrow will be released to seller after the second traunch is funded, and 20% will remain in
escrow to be released three years after the date of CRC approval or two years of buyer being operational whichever comes first.