Completion of Nevada Lab and Private Placement Offering Announced – GlobeNewswire

VANCOUVER, British Columbia, Jan. 23, 2019 (GLOBE NEWSWIRE) — CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today its 49% owned subsidiary Elite Ventures has now completed its genetics, tissue culturing and micropropagation laboratory at the company’s Nevada THC farm.
The lab will provide 10,000,000 plant starts for the company’s 2,115 acres of CBD farms. By propagating in the lab, the company will save about $3.0 million in seed and planting costs for the 2019 season. In addition, the lab will also develop proprietary genetics to maximize yields and provide the company a production and quality lead with some 100 photocannabinoids, beginning with cannabinol (CBN) and cannabigerol (CBG).The newly-completed building will get its final inspection next week with the Cannabis Licensing Board for approval for recreational cannabis cultivation, production and commercial kitchen. The building blocks needed for the perimeter security wall have been ordered and are expected to be on site shortly for its construction.CROP has announced a non-brokered private placement offering to raise up to CDN$2,000,000 by the issuance of up to 6,666,667 units (each, a “Unit”) at a price of $0.30 per Unit. Each Unit will consist of one common share of the Company (each a “Common Share”) and one Common Share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.50 for a period of 24 months following the closing of the Offering. Completion of the Offering is subject to regulatory approval.None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an

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