Pure Harvest Upgrades Rapidly Growing SKM Dispensary in Dumont, CO
SKM’s Month-Over-Month Sales Contributing to Colorado's Record Cannabis Sales
DENVER, CO, Feb. 23, 2021 (GLOBE NEWSWIRE) -- via NewMediaWire – Pure Harvest Corporate Group, Inc. (OTCQB: PHCG), a publicly traded holding company focused on emerging and high-growth industries, is pleased to announce that it is making substantial improvements to its wholly owned Sofa King Medical Wellness Products, LLC (“SKM”) facility located in Dumont, Colorado in anticipation of expanding its licensed marijuana business in the State of Colorado.
These improvements are part of the second phase of development for the popular property located immediately off the heavily trafficked I-70 at exit 234 between Denver and Colorado’s world class ski resorts. The initial development phase consisted of converting a previous ski and snowboard rental shop into a world-class, solar-powered retail facility. In May 2020, the all new SKM Dispensary opened to the public and since has recorded month-over-month growth in retail sales. Specifically, SKM experienced back-to-back months with a nearly 20% increase in revenue over the last two calendar months. This expansion reflects the continued growth in the Colorado market as a whole, which reported a record year in 2020 with over $2B in retail sales.
The second phase of development includes repaving the dispensary’s parking area, installing additional signage, demolishing an abandoned building located on the premises, and other beautification measures designed to increase curb appeal and customer traffic to the dispensary. To date, the paving of the parking area has been completed along with the demolition of the abandoned structure which greatly increased overall visibility of the dispensary. All permitting required to install the additional signage has been acquired from the local government and installation is expected to commence prior to the end of Q1 2021.
Pure Harvest has not yet finalized plans for the third phase of development, but the Company is committed to fully developing the property to increase traffic at the dispensary and generate additional revenues outside the dispensary facility. “Developing this property has always been part of the long-term plan for Pure Harvest and it is exciting and encouraging to witness the progress we have made,” said Matthew Gregarek, CEO, Pure Harvest Corporate Group. “I believe we are just getting started in Dumont, Colorado.”