US (TX): Indoor Harvest to acquire Alamo CBD

Indoor Harvest has entered into discussions to acquire 100% of the member interests in Alamo CBD. Upon closing of the acquisition, it is intended that Indoor Harvest shareholders would retain 40% and Alamo shareholders would retain 60%, of the total issued and outstanding common stock of Indoor Harvest. It is contemplated that at or subsequent to the acquisition of Alamo by Indoor Harvest, Indoor Harvest will spin-off its vertical farming operations including its produce and engineering, procurement and construction related operations to Indoor Harvest shareholders at the closing of the acquisition. The company’s remaining cannabis related assets, agreements, intellectual property and operations will remain with Indoor Harvest/Alamo.

Alamo has signed an agreement with Vyripharm Enterprises to form a Joint Venture for pharmaceutical cannabinoids research. Under the proposed joint venture with Vyripharm, Alamo will provide pure medical cannabis oil/product to Vyripharm in order to provide specific chemical profiles needed for Vyripharm’s research and patient treatments. It is planned that Alamo will, as a result of the acquisition by Indoor Harvest described above, have the right to Indoor Harvest’s patent pending biomanufacturing platform which it will then use in connection with the planned Joint Venture. The joint venture’s business plan is to develop specific process IP to achieve specific chemical profiles to treat various medical conditions such as epilepsy or PTSD, custom tailored to each patient.

Alamo’s current business plan is to use ten (10) acres of land, to include water rights, in La Vernia, Wilson County, Texas, to construct a 17,500 square foot cannabidiol pharmaceutical production facility. Alamo plans to seek a license to operate their facility under the Texas Compassionate Use Act. The Texas Compassionate Use Act (Senate Bill 339) was signed by Gov. Greg Abbott and became effective June 1, 2015. The bill requires the Department of Public Safety to create a secure registry of physicians who treat epilepsy for the purpose of prescribing low-THC cannabis to patients who have been diagnosed with intractable epilepsy. In addition, the bill requires DPS to license at least three dispensing organizations by Sept. 1, 2017. In addition to plans to file an application to operate under the Texas Compassionate Use Act, Alamo also plans to file an application with the DEA and register to become an authorized producer of medical cannabis and medical cannabis extracts for pharmaceutical research and clinical trials within the United States.

Alamo and Indoor Harvest are currently completing customary due diligence and it is expected a definitive acquisition agreement will be agreed upon on or before February 15, 2017.

For more information:
Indoor Harvest
5300 East Freeway, Suite A.
Houston, TX. 77020
1+(832)649·3998
grow@indoorharvest.com
www.indoorharvest.com

alamocbd.com