Texas Ag Commissioner Sid Miller endorses LoneStar Life Sciences Opportunity Zone for year-round commercial greenhouse production of hops in Caldwell County TX
LOCKHART – SAN MARCOS, TX, CALDWELL, October 6, 2021 /EINPresswire.com/ — Sid Miller, Texas Agriculture Commissioner shares his support for the work of LoneStar Life Sciences and its efforts within their Qualified Opportunity Zone Fund (www.LoneStarOZ.com).
Commissioner Miller stated, “The Texas Department of Agriculture’s mission is to partner with all Texans to make Texas the nation’s leader in agriculture, fortify our economy, empower rural communities, promote healthy lifestyles, and cultivate winning strategies for rural, suburban, and urban Texas through exceptional service and the common threads of agriculture in our daily lives.”
Mr. Miller continued, “Through our work, we are lucky to witness the innovation of Texas producers and agricultural organizations as they work to increase the efficiency and strengthen the local supply chain. The work at LoneStar AgriTech represents an exciting opportunity to grow and commercialize hops in a state-of-the-art indoor grow facility in Texas.”
He added, “LoneStar AgriTech’s decision to build their grow facility in an Opportunity Zone will bring important capital investment, job creation, and economic development opportunities for Caldwell County and the central Texas region.”
Matt Atwood, President of Lonestar Life Sciences and Lonestar AgriTech, stated, “We’re extremely excited by the opportunity to support Commissioner Miller’s mission in Texas. We share his vision and passion to support rural communities in job creation and bringing state-of-the-art technologies to rural Texas. The qualified opportunity zone is the next phase in the effort of Lonestar Life Sciences, and our affiliate Lonestar AgriTech will build the first commercial sized greenhouses to grow Texas hops in the lone star state as the initial phase of our long term indoor agricultural project.”
Texas Ag Commissioner Miller concluded, “The TDA looks forward to working with Lonestar Life Sciences, Lonestar AgriTech, and their international agricultural partners in the Qualified Opportunity Zone.”
Atwood concluded, “This is a 4-way win for everyone involved. It is a massive WIN for LoneStar Life Sciences to start up the $250M QOZ and fund the first $100M LoneStar AgriTech Hops project. It is a huge WIN for the rural community to bring high paying jobs into an indoor agriculture industry that will continue to be an important technology for the future of food security. It is a Texas size WIN for Texas agriculture by bringing in a new USDA specialty crop like hops, as well as an industry changing WIN for the Texas craft brewery markets to have access to locally grown fresh hops all year round.”
This Fund is 3rd Party Administered by OZ Invested
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. We caution you that such statements are simply predictions and actual events or results may differ materially. These statements reflect our current expectations, and we do not undertake to update or revise these forward looking statements, even if experience or future changes make it clear that any projected results expressed or implied in this or other statements will not be realized. Further, these statements involve risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from the forward-looking statements. This is not an offer to sell Units in the Fund. Any sale of Units will be made solely in connection with the Confidential Private Placement Memorandum of the Fund and related documents. The Confidential Private Placement Memorandum includes important risks, uncertainties and certain conflicts of interest, many of which are beyond our control, that could impact an investment in the Fund.
What is an Opportunity Zone?
Qualified Opportunity Zones (QOZ) are an economic development tool designed to spur economic development and job creation in distressed communities where new investment, under certain conditions, may be eligible for preferential tax treatment. Identified by Governor Abbott, these designated zones have lower incomes, higher poverty rates, and higher unemployment rates than eligible non-designated tracts. Under the program, any investor can defer their capital gains tax on realized gains if the gains are invested in a Qualified Opportunity Fund within 180 days of the sale. For investments held for at least 10 years, investors pay no taxes on any capital gains produced through their investment in Opportunity Funds.
As a qualified Opportunity Zone Fund (QOZF), LoneStar looks to solve the severe shortage and seasonal growing of Hops while, spurring economic development and providing tax benefits to investors. Investors can defer tax on any prior gains invested in a Qualified Opportunity Zone Fund (QOZF) until the earlier of the date on which the investment in a QOZF is sold or exchanged. With even more tax break incentives along the way at both 7 years and 10 years of the fund.
The LoneStar AgriTech Beer Hops Project:
Phase 1: $100 Million LoneStar Life Sciences OZ Fund LLC (the “Fund”) launched Aug 3rd seeking Accredited Investors for an investment in indoor growing facilities for hops and other crops along with sales of related products from rural agricultural opportunity zones in Caldwell County near Lockhart and San Marcos Texas. Phase 1 of the Fund will invest substantially all of the $100M net proceeds of the offering in an affiliated operating company, LoneStar AgriTech, LLC (“LoneStar AgriTech”), who is on a mission to build and manage one million square feet of the most advanced indoor controlled environment greenhouse facilities in Texas. The initial focus of Phase 1 will be on growing and harvesting high margin fresh hops for sale to local Texas breweries and the extraction of Xanthohumol for medicinal/nutraceutical purposes.
The LoneStart MedTech Medical Hops Project:
Phase 2: Additional $150 Million LoneStar Life Sciences OZ Fund launch for medical extraction of Xanthohumol and nutraceutical product development to medically treat lifestyle diseases like cancer, chronic pain, autoimmune disorder, heart disease, obesity and diabetes. There are currently no suppliers of Xanthohumol in North America making LoneStar Xanthohumol a medical/pharmaceutical market disruptor. Preparing hydroponic hops and extraction of Xanthohumol strategically prepares Lonestar AgriTech for the Texas cannabis.