Millennium Investment & Acquisition Organization, Inc.

Aged Bethpage, New York, June 11, 2021 (Globe NEWSWIRE) — Millennium Investment & Acquisition Co. Inc. (US-OTC: MILC) (“MILC” or the “Company”) nowadays announced that it has agreed to commit in a newly formed cannabis operator – VinCann LLC (“VC”). As part of the transaction, MILC has agreed to devote $750,000. The financial commitment will take the type of a most well-liked fairness interest that receives a total return of invested funds additionally a most popular return of 12.5% soon after which MILC has a 77.5% ownership stake. The remaining subordinated ownership will be held by the management crew of VC.

Concurrent with MILC’s financial commitment, VC entered into a 20-calendar year lease (the “Lease”) for a 9.35 acre plot of land with approximately 40,000 sq. feet of greenhouse, 3,000 square feet of office room, and 100,000 square feet of thoroughly fenced outside increasing location with 20,000+ sq. toes of hoop structures that have been bought by Ability REIT (NYSE-American: PW). This property has major opportunity to turn out to be a reduced-cost producer of high-excellent hashish to compete efficiently in the Oklahoma market.

Oklahoma is a reasonably new cannabis current market and because of to its open licensing represents an exciting option. It is referred to as the “wild-wild-west” of cannabis and is projected to see swift growth in the coming a long time. This financial investment positions MILC for beautiful possibility modified returns and by functioning with Power REIT presents major leverage to its financial investment.

David Lesser, MILC’s Chairman and CEO, commented, “MILC recently introduced an first foray into cannabis cultivation with a transaction in southern Colorado. This transaction expands MILC’s entry into the cannabis cultivation space as MILC transitions to an running firm from an Financial commitment Corporation below Securities and Trade Act of 1940. As earlier disclosed, MILC has now completed the sale of its sole financial commitment in securities and is now targeted on two spots: sustainable hashish cultivation in greenhouses and generation of activated carbon. MILC is enthusiastic about the prospective clients for these two target regions and its portfolio expansion with this investment in Oklahoma. I look forward to asserting supplemental enjoyable developments in the in the vicinity of potential.”

VC is led by Jared Schrader, an knowledgeable cannabis cultivation operator with a reliable keep track of report rising income at a Colorado cultivation facility from $150,000 per year to in excess of $150,000 weekly (i.e. > $8 million on a yearly basis) throughout the span of two decades.

Jared Schrader, VinCann’s President, commented, “This cannabis cultivation facility is by now operational and has substantial opportunity for growth in undeveloped regions that can be conveniently manufactured to increase the operation. This allows VC to pursue a method centered on pace to earnings and has the likely for immediate revenue advancement specified the character of Oklahoma hashish licensing which is primarily based on an unrestricted plant depend for each residence. Based mostly on the first residence configuration, VC intends to rapidly set up roughly 32,000 hashish vegetation which can be harvested close to 5 situations for each year. Primarily based on new price ranges for hashish in Oklahoma, this can final result in an once-a-year run rate of revenue in excessive of $8 million.”

Deregistration as a 1940 Act Corporation

On Oct 14, 2020, shareholders permitted a proposal to alter the mother nature of the Company’s business enterprise from a registered expense corporation below the Financial investment Business Act of 1940 (the “1940 Act”) and to a holding company that focuses mostly on possessing and operating businesses that develop activated carbon and attaining other private organizations (collectively, the “Deregistration Proposal”). The Company is in the course of action of utilizing the Deregistration Proposal so that it is no lengthier an “investment company” underneath the 1940 Act and has used to the Securities and Trade Fee (the “SEC”) for an buy underneath the 1940 Act declaring that the Enterprise has ceased to be an investment decision company (the “Deregistration Order”).

When the Corporation is dedicated to totally implementing the Deregistration Proposal, it is still contingent upon regulatory approval and the capability to reconfigure the Company’s portfolio to deregister as an financial commitment company. The time expected to reconfigure the Company’s portfolio could be impacted by, amid other items, the COVID-19 pandemic and associated industry volatility, determinations to protect cash, the Company’s capability to identify and execute on attractive acquisition chances, and applicable regulatory, loan company and governance necessities. The conversion system could consider up to 24 months and there can be no assurance that the Deregistration Proposal, even if totally applied, will enhance the Company’s general performance. Even further, the SEC may identify not to grant the Company’s request for the Deregistration Buy, which would materially adjust the Company’s designs for its company.

As earlier introduced, MILC has now done the liquidation of its sole expense in securities – its expenditure in SMC and programs to make investments the proceeds in working enterprises.

ABOUT MILLENNIUM Investment decision & ACQUISITION Firm INC.

Millennium Expense and Acquisition Co. Inc. (ticker: MILC) is an internally managed, non-diversified, closed-conclude expenditure organization. Throughout 2020, MILC declared that it was searching for to de-sign-up as an Financial investment Company that is regulated less than Investment decision Company Act of 1940. MILC is at present searching for an Get from the SEC declaring that it has ceased to be an Financial investment Company as it no more time satisfies the definition of holding alone out as investing in securities but relatively has pivoted to emphasis on direct investments in operating corporations.

MILC is at present concentrating on opportunities in sustainable hashish cultivation and the production of activated carbon.

More information about MILC can be uncovered on its web site: www.millinvestment.com

ABOUT Energy REIT

Electrical power REIT is a specialised genuine estate financial commitment belief (REIT) that owns sustainable authentic estate linked to infrastructure assets which includes houses for Controlled Environment Agriculture, Renewable Vitality and Transportation. Ability REIT is actively in search of to extend its authentic estate portfolio linked to Managed Setting Agriculture for the cultivation of meals and cannabis.

Electric power REIT is focuses on the “Triple Bottom Line” with a determination to Financial gain, Planet and Men and women.

Extra info about Electric power REIT can be found on its internet site: www.pwreit.com

CAUTIONARY Assertion ABOUT Ahead-Seeking STATEMENTS

This doc involves ahead-hunting statements in just the that means of the U.S. securities legal guidelines. Ahead-on the lookout statements are people that predict or explain long term activities or developments and that do not relate solely to historical matters. You can commonly detect forward-searching statements as statements made up of the words “believe,” “assume,” “will,” “foresee,” “intend,” “estimate,” “undertaking,” “program,” “believe”, “request” or other very similar expressions, or negatives of individuals expressions, though not all forward-searching statements comprise these identifying phrases. All statements contained in this document about our upcoming system, foreseeable future functions, upcoming prospective clients, the long term of our industries and results that may be obtained by pursuing management’s present-day or upcoming ideas and goals are ahead-seeking statements. You need to not spot undue reliance on any ahead-on the lookout statements mainly because the issues they explain are subject to regarded and unidentified pitfalls, uncertainties and other unpredictable things, several of which are outside of our regulate. Our ahead-wanting statements are primarily based on the facts at the moment readily available to us and speak only as of the day of the submitting of this doc. Above time, our actual success, functionality, financial affliction or achievements may well vary from the predicted success, performance, economical condition or achievements that are expressed or implied by our forward-on the lookout statements, and these kinds of distinctions may well be sizeable and materially adverse to our stability holders.

CONACT:

David H. Lesser, Chairman & CEO
[email protected] 
212-750-0371

301 Winding Road
Previous Bethpage, NY 11804
www.millinvestment.com