InvestmentPitch Media Video Discusses Crop Infrastructure's Pending First Cannabis Harvest from Wheeler Park Greenhouses in Washington - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - August 29, 2018) - Crop Infrastructure Corp. (CSE: CROP) (OTC Pink: CRXPF) announced its Wheeler Park licensed tenant has reported that it expects its first harvest of cannabis within weeks and will be at full scale production in September 2018. "The Park", a state-of-the-art facility in Washington State, sits on approximately nine acres of land.
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The 35,000 square foot cannabis greenhouse facility has five flowering bays that are designed to yield, at full scale production, approximately 12,000 pounds of high quality cannabis annually, or approximately1,000 pounds per month.
The perpetual harvest system utilizes cannabis strains with a 55 to 60 day flower cycle. Every other day the tenant grower removes three trays of flowered plants from the finishing end and harvests the plants, while simultaneously loading three new trays with plants to begin the flowering process.
The facility, which recently underwent a complete retro-fit for hydroponic automation and the addition of 500 Gavita HPS grow lights, has a current operating cost of US$50,000 per month.
Michael Yorke, CEO of CROP, stated: "With harvests now underway in California along with our Washington tenant weeks away from its first harvest, the Company is now at a turning point. The Company expects four of its six tenant licensees to harvest at its farms, with each set to begin cash flowing in Q4 2018."
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, Washington State, Nevada, Italy, and Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 16 Cannabis brands and has US and Italian distribution rights to a line of over 55 cannabis topical products from The Yield Growth Corp.
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