CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF) (“CROP” or the “Company”) announced today it has entered into a member interest purchase agreement with Elite Ventures LLC, of Nevada, to acquire a 49% member interest in a Nye County agricultural property. The company has agreed to pay $1,300,000 USD, in cash, for the member interest and has paid $600,000 to date.

The Nye County agricultural property is in central Nevada and was selected for its temperate climate which is ideal for greenhouse and outdoor growing. The property totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.


The company’s tenant has negotiated a contractor to clear 1 pivot of 120 acres and begin tilling the area at a cost of $16,920.00. Once clear the pivot will be planted with ~900,000 seeds of high CBD strain of hemp at a cost of $90,000. The genetics selected will have a THC content of <0.3% and a CBD content of  >15%. It is estimated that the 120-acre first pivot will yield 120,000 pounds of flower. It is expected the water, labor and fertilizer cost for this crop should not exceed $60,000. The company anticipates the planting to take place prior to July 15th and expects an early fall harvest.

Market considerations

Nevada hemp growers surveyed by Marijuana Business Daily report that the market is fetching:

  • $200 or more per pound for flower, depending on CBD content and quality
  • About $10 per pound of food-grade seed, or $45 per gallon for seed oil
  • About $200 per ton of baled fiber
  • About $10,000 per Kg of CBD isolate

CROP Infrastructure Director & CEO, Michael Yorke, stated: “We are extremely pleased with how quickly our team and tenant have worked together to advance this project.  From internal study to commencing production, they have done a great job. With cannabis infrastructure in Italy, California and Washington, CROP is expanding its footprint and operations in some of the largest legal markets throughout the US and beyond. ”

About CROP
Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP”. CROP is 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 licensed greenhouse facilities in California. Nevada, Washington State and Italy.

Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206

Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities issuable thereunder and the Transaction are forward-looking statements and are prospective in nature. 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 Nye Property; the technological effects of The Nye 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.

The CSE has not reviewed, approved or disapproved the content of this press release.

Click here to connect with CROP Infrastructure Corp. (CSE:CROP, OTC:CRXPF) for an Investor Presentation. 

Source: globenewswire.com

Strong Innovation Pipeline Continues to Drive Market Share Growth
Broken Coast’s First Foray into Cannabis 2.0
Solei Introduces First Limited Release Vape on the Market
Solei, RIFF, Good Supply and B!NGO Expand Product Offerings

Aphria Inc. (” Aphria ” or the ” Company “) ( TSX: APHA and NASDAQ: APHA ), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, today announced the expansion of its 510 Vape offering across its award-winning adult-use brand portfolio.

Keep reading... Show less

Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court before the December 1 2020 DEADLINE . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=aurora-cannabis-inc&id=2437 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf Solutions“, “OILS”, or the “Company”), Canada’s most innovative cannabis extractor, is pleased to provide the following commercial and intellectual property update:

Cannabis Extraction Agreement with White Label Producer

Keep reading... Show less

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Khiron Life Sciences Corp. (“ Khiron ” or, the “ Company ”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units (“ Unit s ”), including the exercise in full of the over-allotment option (the “ Offering ”).

Keep reading... Show less

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), an innovative global cannabinoid company, today announced that Mike Gorenstein, Executive Chairman, is scheduled to speak on a panel at the Cowen 2020 Boston Cannabis Conference on Wednesday, December 2, 2020 at 9:20 a.m. EST.

For more information regarding the Cowen 2020 Boston Cannabis Conference please visit: https://www.cowen.com/conferences-and-events/3rd-annual-boston-cannabis-conference/

Keep reading... Show less