Pelorus Capital Group Engages StateHouse To Manage And Operate Humboldt Cultivation Facility

Pelorus Capital Group has made a significant announcement today following last week’s news that it had entered into a Managed Service Agreement with StateHouse Holdings Inc. The agreement between the two entities marks a pivotal collaboration between the two entities, centered around the strategic development and management of a cannabis cultivation asset owned by Pelorus. The asset is strategically situated in Humboldt County, which is recognized as the premier location for outdoor cannabis grow in America.

The initial phase of construction in this joint venture for the Humboldt Facilities will encompass the establishment of an expansive greenhouse production facility spanning an impressive 118,000 square feet. Additionally, an advanced plant tissue culture lab will be brought to completion. This includes not only finalizing the construction phase but also encompassing the broader scope of commercialization and production expansion.

StateHouse will leverage its comprehensive suite of services, encompassing essential domains such as human resources, legal and compliance aspects, post-harvest production and processing, contract manufacturing, distribution logistics, and safety management.

Speaking on the significance of the agreement, Pelorus Capital Group Managing Partner Travis Goad emphasized the significance of this transformative step, stating, “The initial focus on commercialization and subsequent scaling of operations stands as a pivotal stride in resurrecting the potential of this previously inactive site and fostering robust returns for our esteemed investors.”

Goad further highlighted the unique strengths that StateHouse brings to the partnership, describing the organization as a major force within California’s vertically integrated landscape. He attributed to them the essential attributes of cultivation proficiency, operational acumen, and the crucial capacity for distribution, all of which are poised to extract maximum value from the Humboldt site.

Goad’s enthusiasm for the collaboration stems from the alignment of a seasoned operator’s prowess with the existing borrower status of Pelorus. Thus, the business venture is poised not only poised to rejuvenate an underutilized asset but also to lay the foundation for sustainable revenue streams and a heightened future valuation of the real estate asset.

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