• Daily Marijuana Observer Facebook
  • Daily Marijuana Observer Twitter
  • Daily Marijuana Observer StockTwits
  • Daily Marijuana Observer SA
  • Daily Marijuana Observer Instagram
  • Daily Marijuana Observer Youtube
  • Pinterest Social Icon
  • Daily Marijuana Observer Talk Market

CROP to Expand Washington State Project

March 14, 2018

 

VANCOUVER, British Columbia, March 14, 2018 (GLOBE NEWSWIRE) -- CROP Infrastructure Corp. (CSE:CROP) (FRANKFURT:2FR) ("CROP" or the "Company") today announced it has received an update from it’s state-of-the-art Washington State Mega Greenhouse project.

 

 

Phase one construction consisting of site preparation including foundations for twelve (12) purpose-built indoor agricultural canopies encompassing a planned total area of ~44,000 square feet is nearing completion. The first six (6) greenhouses are currently under construction with completion anticipated shortly.

 

Each phase will be licensed to tenant growers along with brand licensing and Standard Operating Procedures (SOPs).

 

The Company will shortly begin Phase 2 construction of the next group of six (6) greenhouses planned for the property, bringing another 22,000 square feet of canopy online. Completion of the greenhouses as planned will bring the project’s annual tenant production capacity to approximately 24,000 lbs of high quality product.

 

The Mega Greenhouse project currently benefits from a regional electrical rate of $0.02/kWh USD which based on internal calculations provided by the company’s expert consulting partner, should result in less than $150.00 USD per lb ($0.33 per gram) production costs for it’s tenant growers.

In related news, the Company further announces that it has granted a total of 5,500,000 incentive stock options to certain directors, officers, consultants and employees of the Company.  The options have an exercise price of $0.50 per share and expire March 13, 2019.

 

CONTACT


Corporate Communications
info@cropcorp.com 
(604) 484-4206

 

About CROP Infrastructure Corp.

 

Crop Infrastructure is engaged in the business of investing, constructing, owning and leasing mega-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 first project and core asset is its Mega Greenhouse project currently under construction in the State of Washington.

 

Forward-Looking Information

 

This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business of the Company.  Forward-looking information is based on certain key expectations and assumptions made by the management of the Company. Although the Company believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on the forward-looking information because the Company can give no assurance that they will prove to be correct. Forward-looking statements contained in this press release are made as of the date of this press release. The Company disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

Please reload

LATEST NEWS
Please reload

Please reload

DMO

© Copyright 2016-2020 Smoke Show Ventures, Inc.

RSS Feed

Disclaimer: Except for the historical information and data presented herein, matters discussed in articles on this website contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future performance or achievements expressed or implied by such coverage. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. Smoke Show Ventures, Inc., which owns The Daily Marijuana Observer, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. Smoke Show Ventures, Inc. or its affiliates, which owns The Daily Marijuana Observer, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two. For full disclosure please visit: https://www.dailymarijuanaobserver.com/legal-disclaimer/.