Monarch America Inc. announced that it has signed a letter-of-intent (LOI) with Malama Wellness LLC. Under this letter of intent, the parties will enter into a definitive management consulting agreement under which Monarch will oversee and manage all facets of a marijuana operation as specified by Malama Wellness in Hawaii, including property management, technology and equipment leasing to inventory control, staffing and day-to-day operational management. Reportedly, Monarch and Malama Wellness shall use their best efforts to close the transaction as promptly as possible.

This agreement to be negotiated and entered into by the parties will contain the usual and customary representations, warranties, covenants, and conditions, including but not limited to satisfactory results of the parties due diligence investigations, obtaining the appropriate financing or commitment, approval of all necessary and related documents and agreements and approvals of the state of Hawaii as required.