VANCOUVER, British Columbia,
April 25, 2019 /CNW/ -- Crop
Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today it
has consolidated its roll-out plan in Oklahoma with 20 acres cleared and
prepped and high nutrient soil being spread on the property in
readiness for tenant planting of medical cannabis.
Additionally, the partnership is reviewing several different
high +20% THC genetic cannabis strains for its plant starts for the
2019 season. CROP has also leased a 32,000 sq. ft. drying
building for drying the 20-acre outdoor harvest, the property has
an additional 32,000 square ft of footings where greenhouse will be
erected for propagation with sufficient power on site for both the
propagation and drying units.
The 20 acres of medical cannabis, once tenanted, is
estimated to yield 30,000 lbs of dried flower per year with a total
infrastructure cost of $500,000.
The edibles and oils markets are quickly gaining dominance.
Being positioned to provide for this market with a vision of
vertical integration will be a key driving force behind CROP, its
brands and tenants being successfull in Oklahoma.
The company is also reviewing several existing retail locations
to acquire, as well identifying new locations that would be
suitable for retail businesses that the company
would then make applications for potential licensed
tenants. The company believes its experience and organic CROP
SAFE methodology will be a game changer in the
Oklahoma market by providing
tenants with the means to succeed.
CROP CEO, Michael
Yorke, stated: "Our Oklahoma roll-out is now well under
way. The state's medical marijuana program permits doctors to be
free to recommend medical marijuana for any condition
they deem appropriate and with recreational cannabis
being a focus of the State. We couldn't be happier with the speed
with which our team is tying up infrastructure and readying for the
season ahead."
About CROP
CROP is publicly listed company trading under symbol
CROP.CSE. The company is focused on cannabis branding and real
estate assets. CROP's portfolio of projects includes cultivation
properties in California, three in
Washington State, a 1,000-acre
Nevada cannabis farm, 2,115 acres
of Hemp CBD farms, and a growing portfolio of common share equity
in upcoming listings within the cannabis space.
CROP has developed a portfolio of assets including Canna Drink,
a cannabis infused functional beverage line and 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 returns from the Oklahoma
Project; the technological effects of Oklahoma Project; 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.
Company Contact
Michael
Yorke – CEO and Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: +1(604) 484-4206
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SOURCE Crop Infrastructure Corp.