Sunset Island Group, Inc. (OTCQB: SIGO) operates as a organic cannabis producer and cultivator. Shares of the cannabis company are rallying 5.63%, through early trading on Friday, September 1, 2017. Over the past month, Sunset Island Group, Inc. has seen average daily volume of 316,574 shares. However, volume of 39,696 shares or dollar volume of $29,772, has already exchanged hands on Friday.
Shares of Sunset Island Group, Inc. are increasing on Friday, after the company announced that it will continue to focus on cannabis clone sales, which is expected to be a big revenue generator for the company. Management expects they will be able to sell 10,000 clones per month starting in September, before eventually growing to as much as 50,000 clones per month down the road. Here is the full press release detailing of the cannabis clone sales:
Sunset Island Group, Inc. Press Release:
SAN CLEMENTE, Calif., Aug. 29, 2017 /PRNewswire/ — SUNSET ISLAND GROUP, INC. (OTCQB: SIGO) announced today that the company should realize significant revenue increases on an ongoing month over month basis from Cannabis Clones.
CEO T.J. Magallanes stated, “We never would have predicted this to be the case months ago, but cannabis clones are now in high demand across the state. At five to ten dollars each, cannabis clones do not sound like a tremendous contributor to our monthly revenue stream, but early indications are that we can easily sell 10,000 clones per month beginning as early as September and once people begin to recognize the organic quality of our clone products, we will ramp up to as many as 50,000 clones per month.”
Mr. Magallanes went on to say, “The primary reason why our company will benefit from this secondary revenue source is convenience. Space is required to create quality clones and many of the smaller growers look to maximize grow space by alleviating this step in the process and simply purchasing clones on an as needed basis. The equipment that we’ve installed for harvesting clones allows us to produce “upwards and outwards” on a large scale. In other words, we have the ability to maximize square footage utilizing a unique high density approach that reduces the amount of square footage required for mass production. In addition, word has traveled quickly that our company utilizes the MAPAL Agro system, which almost guarantees a quality reliable product.”
Mr. Magallanes finished up with, “This opportunity has factored heavily into our expansion plans. We have already geared up clone production for a minimum of 152K square feet and as we’ve stated before, the possibility of aggressive expansion in phases to a total of 750K square feet is still on the table. We want to thank you for your continued support and we look forward to meeting many of you on September 16th.”
The Company has decided to hold an additional shareholder event on September 16, 2017. This is due to the overwhelming requests from shareholders. The Company will pick up those that have reserved a spot for the tour at 10:30am at the Courtyard by Marriott Salinas Monterey (located at 17225 El Rancho Way, Salinas, CA 93907) and drive them to the farm. On this visit to our current operations, we will also take the time to visit the proposed 750,000 square foot expansion facility which is all interconnected and all located on the same property.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate.