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Weekend Unlimited's Orchard Heights' licensed tenant harvests initial proof of concept cannabis crop in Washington State

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Cody Corrubia, President & CEO, stated: “’Orchard Heights’ licensed tenant, a pesticide free commercial cannabis Tier 3 producer/processor, conducted its first four days of harvest from October 30th to November 2nd, which produced over 1 ton of high quality, solar powered cannabis material, currently being dried.”

Additional Information:

Company: Weekend Unlimited Inc.
Website: http://www.weekendunlimited.com
Stock Symbol: CSE: YOLO
Date Published: Nov 6, 2018
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Weekend Unlimited Inc. has announced details of the initial cannabis harvest from the licensed tenant of its Orchard Heights Growers, a Weekend Unlimited brand and property in Washington State.

Cody Corrubia, President & CEO, stated: “’Orchard Heights’ licensed tenant, a pesticide free commercial cannabis Tier 3 producer/processor, conducted its first four days of harvest from October 30th to November 2nd, which produced over 1 ton of high quality, solar powered cannabis material, currently being dried.”

During the 4-day harvest, 4,000 pounds of bulk raw cannabis material was harvested from 10,000 square feet of canopy.

This harvested material is expected to produce over 50,000 grams of premium concentrate, 250,000 pre-rolls, or a combination of the two with premium concentrate infused pre-rolls.

Management is assuming that 4000 pounds of raw cannabis yields 18% or approximately 700 pounds when dried, which equals 57,078 grams of concentrate or 317,100 one-gram pre-rolls, based on 453 grams per pound.

Utilizing 1,408 plants and 10,000 square feet of canopy it is anticipated that this proof of concept harvest will generate approximately US$500,000 in revenue, an estimate based upon average market prices of $10 per gram for live resin concentrate and $2 per gram for pre-rolls.

Management cautions that risk of mold or other contamination in the flower would result in only concentrate being produced, which could result in less end product.

Cody Corrubia, President & CEO, added: “As a proof of concept crop, the 4,000 lbs of wet material harvested will be used to produce concentrates and pre-rolls. A quantity of the best product will be frozen and reserved for the launch of a premium Live Resin brand this winter.”

The Orchard Heights property is being positioned as a B2B solution for independent growers looking for choice genetics, farming guidance, and processing and distribution solutions.

To serve this market, Orchard Heights is developing infrastructure, including a nursery with tissue culture technology and robotic automation, enabling the current operation to produce in excess of 2 million plants per year, which corresponds to more than 10 million square feet of canopy.

The development of this infrastructure is underway and will be completed within six months at a cost of approximately US$1 million.

With the expected consolidation and continued growth of a US$1.3 Billion USD market in Washington State, Orchard Heights will primarily focus on the B2B clone and nursery business, looking to capitalize on its agricultural systems and efficiency to be the leader in commercial commodity cannabis production.

Weekend Unlimited, which began trading on the CSE on October 15th, is currently trading at $0.20.

For more information, please visit the company’s website at www.weekendunlimited.com or contact investor relations at 236-317-2812 or email ir@weekendunlimited.com.

I’m Samantha Deutscher for Investmentpitch Media