VANCOUVER, British Columbia, Oct. 25, 2018 (GLOBE NEWSWIRE) — CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today that its tenant has begun harvesting at the greenhouse complex known as ‘The Park’, situated in Wheeler Park, Washington State.
The Park’s 35,000 square foot cannabis greenhouse recently underwent a complete retrofit for hydroponic automation and the addition of 500 Gavita HPS grow lights. It has five flowering bays and is sited on nine acres with full scale production estimated at approximately 12,000 pounds of high-quality cannabis annually (about 1,000 pounds per month). The operating costs are about $50,000 (U.S.) per month.
CROP CEO, Michael Yorke, stated: “CROP now has tenant harvests underway in two states, Washington and Nevada. Inventories are accumulating in California, and tenants are accepting bids from potential distributors and buyers to be sold under CROP Brands. Production levels are on target as are costs and we look forward to a strong finish to the year.”
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, a 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.