International Land Alliance terminates hemp lease, to subdivide 40 acres for homes

International Land Alliance Inc.

Rescinded lease with private CA hemp grower for 40 acres; will receive $150,000 over two years.
Company pivots from hemp lease to subdividing property for residential home construction.
Property acquired Q1 2019 for $1.1M; one 20-acre parcel previously sold for $630,000.
President cites strong demand for Southern California homes and land prices as rationale.

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