CBD Of Denver Inc CBDD has unveiled its latest venture, Luxora Real Estate AG in Switzerland, signaling a move into commercial real estate.
Set for 2024, Luxora’s objective is to amass 10 million CHF for purchasing commercial properties in Germany. A notable 51% of this new entity will be held by Luxora Holding AG, while the rest will be earmarked for capital-raising to ensure non-dilution of CBDD’s existing stock.
Luxora Real Estate‘s mission is to transform these properties into state-of-the-art indoor farming facilities. Targeted for lease to Germany’s emerging cannabis club scene, these spaces represent a significant stride in the cannabis industry.
“We are excited about the synergies that Luxora Real Estate will bring, especially in providing rental growing infrastructure to cannabis clubs in Germany,” said Jan Schwager, CEO at Luxora. "Luxora Real Estate will considerably enhance our portfolio. It will secure revenue streams within our group and contribute to sustainable, long-term value.”
Strategic Berlin Properties: Luxora’s First Moves
The company has identified its first two target properties in the greater Berlin area. This development coincides with upcoming regulations for cannabis clubs in Germany, set to take effect in July 2024, positioning Luxora to provide top-tier infrastructure once these rules are implemented.
CBDD’s Diverse Portfolio And Bold Strategy
CBD of Denver's portfolio includes ventures like Libra 9 GmbH, featuring products such as the Magic Lappen and the BerlinR13 Anti-Slip solution. The company’s new venture in real estate represents a strategic move into a burgeoning cannabis market, focusing on high-margin, value-aligned offerings.
CBDD Price Action
CBDD's shares were trading at $0.0007 per share at the time of this writing around 11 AM ET Monday.
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- This U.S. Cannabis Company Is Targeting The German Retail Market: Sets Sights On Building Four Clubs
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