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CROP Infrastructure has leased a 87,120 sq. foot greenhouse facility in Italy through its joint venture with XHemplar

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Work has already begun on upgrading the site security which includes cameras and fencing.

Additional Information:

Company: CROP Infrastructure
Website: http://www.cropcorp.com
Stock Symbol: CSE: CROP
Date Published: Oct 1, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

CROP Infrastructure has leased a 87,120 square foot greenhouse facility in Italy through its joint venture with XHemplar.

Work has already begun on upgrading the site security which includes cameras and fencing.

In addition, CROP will be working with XHemplar to open two retail locations in Italy before the end of the year, as well as build a state-of-the-art extraction facility.

Michael Yorke, CEO, stated: “This will allow for low-cost and high-quality pure CBD isolate and CBD products to be sold domestically as well as into the European CBD market. The joint venture’s CBD products will be branded under the XHemplar and CROP brands Tiffany CBD and Hempire Italia. This is a major increase in our European footprint. Not only will this expand our growing capacity and quality control, but, very importantly, the build-out of an extraction facility will allow CROP to provide European markets with quality CBD isolate.”

CROP recently announced that its subsidiary Elite Ventures Group LLC has signed a joint venture agreement with The Hempire LLC of Nevada to purchase a 100% interest in a 1,000 acre Esmeralda County agricultural cannabis project.

The project is tenanted with a suite of cannabis licenses including medical cultivation, medical production along with adult use recreational cultivation & production conditional licenses as well as an option to acquire a retail dispensary application assigned to a strategic location on highway 95 on route to Las Vegas.

CROP has agreed to loan up to US$4,250,000 USD over a period of the next 6 months to acquire 100% of the initial 10 acres of real estate and associated infrastructure with the additional 1,000 acres being paid for at a cost of US$4,500,000 over a 20-year amortization period at 6% interest with a 3-year balloon payment.

The initial set up costs of outdoor 80-acre operation will be approximately US$1,200,000 and should yield tenants 160,000 pounds of outdoor cannabis for extraction and edibles.

Another US$2 million will be allocated to a 44,000 square foot light supplemented greenhouse facility, which should yield tenants 24,000 pounds of high quality flower per year with an additional 25% for extraction and edibles.

The project can be expanded up to 300 acres of combined greenhouse and outdoor cultivation.

CROP will receive preferential payback on the project at a rate of 60% of the net profits from Elite.

Michael Yorke, CEO, added: "CROP now has over 1,000 acres for THC Cannabis cultivation, extraction, commercial kitchen and 1,865 acres for HEMP CBD production in Nevada. Our ambition has always been to be early mover and establish our market footprint in any jurisdiction we invest in. Next year CROP plans on having the largest real estate foot print in the State of Nevada with tenanted operations in the fast-growing CBD & THC markets."

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.

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.

CROP Infrastructure, which began trading on the CSE on March 13th, is trading at $0.53.

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