One Lab Co. Delivers Modular Extraction Lab and Secures a Five-Year Lease Agreement with Workforce Labor Solutions, serving the Washington Cannabis Industry

DENVER, Nov. 29, 2018 /PRNewswire/ -- MOUNTAIN HIGH ACQUISITIONS CORP. (OTCQB: MYHI), announces that its wholly owned subsidiary One Lab Co., a Nevada-based company that provides extraction equipment to the cannabis industry, has completed delivery of a state-of-the-art modular extraction lab to Workforce Labor Solutions, LLC ("WLS").  WLS provides turnkey labor and extraction services to licensed cannabis producers in Washington state.  According to the terms of the five-year lease with One Lab Co., WLS will make payments of $25,000 per month for use of the lab.

As a result of this lease agreement, WLS gains access to the extraction equipment required to serve the needs of its clients, while eliminating the burden of sourcing and building a lab.

"This $300,000 per year revenue stream represents a significant step forward for MYHI," said Alan Smith, CEO of MYHI. "It is another solid milestone in fulfilling our mission to support the expanding cannabis industry by providing licensed growers and producers with access to turnkey infrastructure solutions, cost-cutting technologies, professional services, and capital. This transaction is definitely a win-win for both MYHI and WLS."

WLS has confirmed that One Lab Co. has delivered the modular lab outfitted with state-of-the-art MeP™ extraction equipment, triggering the issuance of 68,000,000 restricted common shares of MYHI to the former owner of One Lab Co., Alchemy Capital, LLC pursuant to the Exchange Agreement dated August 18, 2018 between MYHI, One Lab Co., and Alchemy Capital, LLC.

About MYHI

Mountain High Acquisitions Corp. (OTCQB: MYHI) is a holding company focused on the acquisition and development of businesses and critical assets within the cannabis sector. The company's mission is to serve licensed cannabis growers and producers, providing access to turnkey infrastructure solutions and cost-cutting technologies. 

Press Releases may include forward-looking statements. In particular, the words "believe," "may," "could," "should," "expect," "anticipate," "estimate," "project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements. Any statements made in this news release about an action, event or development, are forward-looking statements. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the company. Accordingly, you should not place undue reliance on these forward-looking statements. Although the company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the company.

SOURCE Mountain High Acquisitions Corp.

Related Links

http://www.mountainhighac.com/

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED