CARSON CITY, Nev., Nov. 16, 2015 (GLOBE NEWSWIRE) -- Indie Growers Association (OTCQB:UPOT) is pleased to provide the following shareholder update.
Administratively, Indie Growers Association has been in the process of amending four of its reports filed with the US Securities and Exchange Commission ("SEC"). The Company received comment letters from the SEC pointing out a number of discrepancies in the filings. The Company has been working with its independent auditor to correct the filings. Two of the amended reports have already been filed and the remaining two will be filed shortly.
Operationally, Fourdub LLC, the tenant on one of the parcels leased by the Company's wholly owned subsidiary, River Ridge Sunshine Farms LLC, has completed its first harvest and the product is currently being dried and will soon be test, processed and packaged for sale. Fourdub has been negotiating with retailers and is developing a strategy for timing the release of the product to the market to optimize their profits.
The Company will provide further updates when warranted.
About River Ridge Sunshine Farms LLC
River Ridge Sunshine Farms LLC is a wholly owned subsidiary of Indie Growers Association. It holds a 10 year, renewable lease on a 14 parcel agricultural property in Prosser, Washington which it intends to sublease to licensed marijuana growers. One of the parcels has already been subleased to a Tier 3 producer.
Cautionary Note Regarding Forward-Looking Statements
This press release may contain forward-looking statements that involve risks and uncertainties, including the Company's beliefs about its business prospects and future results of operations. Some factors that could cause actual results to differ materially include economic and operational risks, changes in anticipated earnings, continuation of current contracts, and other factors detailed in the Company's filings with the Securities and Exchange Commission, including its most recent Forms 10-K and 10-Q. The Company forecasts, if any, are dynamic and therefore refer only to this release date. The Company does not undertake to update any forecasts that it may make available to the investing public.
CONTACT: Indie Growers Association Robert Coleridge, President Telephone: 1 (888) 648 0488 www.indiegrowersassociation.comSource: Indie Growers Assocation