Monarch America, Inc. announced that it has signed a Letter-of-Intent with the Passamaquoddy Tribe, for the design, construction, and development of a proposed marijuana cultivation facility on sovereign Passamaquoddy Tribal Trust Land. As per the LOI, the parties intend to execute a Management Consulting agreement under which Monarch America will design, engineer, and build out an existing 35,000 sq. ft.

structure located on Passamaquoddy Tribal Trust Land for marijuana cultivation. In addition, Monarch America will oversee and consult regarding all facets of the marijuana operation, including property management, technology and equipment purchasing, inventory control, staffing, and day-to-day operational management.