CROP's Tenant Hempire Acquires Interest in California Cannabis Distribution & Packaging Company with On Site Extraction – GlobeNewswire

VANCOUVER, British Columbia, March 22, 2019 (GLOBE NEWSWIRE) — CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today that its Humboldt Holdings Tenant Hempire has acquired a 25% interest in a licensed distribution company, with on site non-volatile commercial cannabis manufacturing in California in return for purchasing additional required extraction equipment for the facility. As with all CROP tenant licencees the company’s subsidiary, in this case Humboldt Holdings, will have the right to acquire the licence interest should federal law change in favour of cannabis-THC.
This will allow the Evolution and Hempire to access turn-key equipment to process cannabis flower, cannabis trim and biomass into high-value distillate oil containing tetrahydrocannabinol (THC).  The manufacturer will carry the cost of processing cannabis flower, cannabis trim and biomass, getting 40% of the resulting oil sales and CROP and its tenant 60%. The facility is capable of not only processing Hempire’s material but will also be utilized to bring in third party material for processing to develop further SKUS to be sold under the CROP brand portfolio.CROP brands are expecting to have the 100,000 premium Moon Rock Cones to be ready for the market in short order, with the 50 liters of THC oil being extracted to fill the company’s vape cartridges under the Hempire, Evolution Cannabis and Tiff CBD brands.Furthermore, the facility will act as the company’s packaging and distribution for all California operations outside of its previously announced distribution agreement giving the company brands exposure to hundreds of potential dispensaries and streamlining its manufacturing and sales process.CROP CEO, Michael Yorke, stated: “This further vertically integrates CROP’s tenant Hempire in preparation for continued sales in the California market, this will streamline the manufacturing, packaging and distribution of the brands reducing touch points and thus profitability and logistics of production for the California

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