TransGlobal Assets Inc. announced that it has entered into a Development Agreement with Merati Homes LLC to provide 50 housing units in addition to the necessary infrastructure as part of a master planned community at its South Haven Hemp Ranch. TransGlobal Assets shall provide a portion of the land with Merati Homes providing planning, development, construction and limited management services associated with the homes to be designed within their existing geographic nature among approximately 15 acres. These studios, one bedroom and two bedroom homes will be available for both short term and long term stays and are expected to be a base for people to enjoy the ranch, Lake Michigan, and all of the surrounding activities and festivals.

South Haven Hemp Ranch is to adopt a vertically integrated business model and will include a self-sustaining community of superior modular homes offering off-grid style living. It will consist of Commercial Greenhouses for year-round agriculture production and 10 acres registered for outdoor hemp cultivation, all located in picturesque SOUTH HAVEN, Michigan. Pursuant to the agreement, TransGlobal will provide the highly sought after land in South Haven whereas Merati Homes will be responsible for the construction costs of the 50 homes which is expected to be $7.5 million with infrastructure costs being an additional $2.5 million.

Profits from the rental units will be split 30%-70% between TransGlobal and Merati respectively until Merati recoups their development costs then it will be evenly distributed to 50%-50%.