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Crop Infrastructure schedules August for first cannabis crop harvest in California

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CROP Infrastructure (CSE:CROP) has completed the required security upgrades on the Humboldt County Property in northern California. The 8.46-acre property consists of an operational 10,000 square foot medicinal cannabis greenhouse facility as well as a barn, garage and residence.

Additional Information:

Company: CROP Infrastructure Corp.
Website: http://www.cropcorp.com
Stock Symbol: CSE: CROP
Date Published: Jul 9, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

CROP Infrastructure Corp. has completed the required security upgrades on the Humboldt County Property in northern California.

The 8.46-acre property consists of an operational 10,000 square foot medicinal cannabis greenhouse facility as well as a barn, garage and residence.

The site also has five 5,000 gallon water tanks, a well and pump house and a 30 x 60 foot drying shed.

The 10,000 square feet of canopy is divided into 5 separate greenhouses.

Each greenhouse is expected to yield approximately 150 pounds per greenhouse, with the tenant operator expecting to harvest the first crop by the end of August.

The tenant has received final approval for an additional 20,000 square feet of recreationally licensed canopy space, subject to security upgrades.

The approval was given after CalCannabis, a division of the California Department of Food and Agriculture had inspected the Humboldt California Campus.

The tenant operator has now planted 20,000 square feet of recreational cannabis with Green Crack, Birthday Cake, and Green Scout Cookie strains.

Michael Yorke, CEO, stated: “Starting on July 1st, cannabis retailers in California will only be able to sell products that have been independently lab-tested; everything else will be destroyed. CROP’s real estate and infrastructure only allows natural and organic materials on the property, and only accepts tenant operators who adhere to Organic cultivation practices. We are excited for our tenant’s first harvest and for CROP’s licensed brands to enter the California market.”

According to a report from BDS Analytics, sales of cannabis in California are expected to hit $3.7 Billion in 2018 alone with that number expected to grow to US$5.1 billion in 2019 as more dispensaries come online.

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 and Washington State, Nevada, Italy and a joint venture on West Hollywood and San Bernardino dispensary applications.

This additional production capacity will greatly complement CROP’s recently announced partnership on West Hollywood and San Bernardino dispensary applications.

CROP has developed a portfolio of 15 Cannabis brands and also has US and Italian distribution rights to a line of over 55 cannabis topical products from The Yield Growth Corp.

CROP Infrastructure, which began trading on the CSE on March 13th, is trading at $0.37.

For more information, please visit the company’s website at www.cropcorp.com, contact Michael Yorke, CEO, at 604-484-4206 or email info@cropcorp.com.

I’m Samantha Deutscher for Investmentpitch Media