CROP Completes 2018 Harvest at Nevada CBD Farm and Prepares First Shipment
VANCOUVER, British Columbia, Nov. 06, 2018 (GLOBE NEWSWIRE) — CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announces an update on its 1,865-acre hemp-CBD farm.
CROP’s tenant has now completed the harvest of 240 acres of CBD hemp. Samples have been sent out for independent testing to determine CBD concentrations and for a Certificate of Analysis (‘COA’). Once the COA has been received, the CBD will be shipped to the company’s partner toll processor to produce CBD isolate, as announced October 10, 2018. The company has also completed site testing at the entire Hemp-CBD project and soil is ready for 2019 planting. The company is developing lines of CBD capsule and tinctures to maximize its returns from its CBD production. The hemp & CBD isolate, and related products will be sold under the company’s Hempire and Tiff CBD brands and utilized for the Canna Drink beverage line.
Furthermore, the company’s tenant is now accepting inquiries for bulk orders of CBD isolate from the 2018 production.
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP” and in the US under the symbol “CRXPF”. CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm, an 1,865 acre CBD farm, extraction in Nevada with international focuses in Jamaica and Italy and a joint venture on West Hollywood and San Bernardino dispensary applications.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.
Disclaimer for Forward-Looking Information
Certain statements in this press release are forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the expected yield from The Nevada Property; the technological effects of The Nevada Property on production; the intention to expand its portfolio; and execute on its business plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the regulatory and legal framework regarding the cannabis industry in general among all levels of government and zoning; risks associated with applicable securities laws and stock exchange rules relating to the cannabis industry; risks associated with maintaining its interests in its various assets; the ability of the Company to finance operations and execute its business plan and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
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