Pelorus Capital Group has entered into a Managed Service Agreement with StateHouse to construct and manage the operations at the company’s cannabis cultivation asset located in Humboldt County.
The first phase of construction at the Humboldt Facilities will include the completion of an expansive 118,000-square-foot greenhouse production facility and plant tissue culture lab. Under the terms of the Agreement, StateHouse will assist in finalizing the construction of the Humboldt Facilities in addition to commercializing and scaling production through the implementation of its full range of services, including human resources, legal and compliance, post-harvest production and processing, contract manufacturing, distribution and safety management.
“Commercializing and scaling up these operations is the first step in stabilizing this previously inactive site and driving strong yields for our investors,” said Travis Goad, Pelorus Capital Group. “Statehouse is one of the largest vertically integrated platforms in California, and they are uniquely positioned with the cultivation expertise, operational knowledge, and distribution capabilities to help us generate maximum value from this site. We are excited to partner with a seasoned operator and existing Pelorus borrower to turn around a distressed asset build a new source of sustainable revenue, and future real estate value.”