Textbook combination-puncher CROP Infrastructure (CROP.C) has started out strong this November with three new developments concerning more than one of its assets.
Firstly, the company’s dispensary application with the City of San Bernardino is nearing completion, the company announced today.
CROP Infrastructure has just completed the third of four stages necessary before a dispensary license is approved by city council.
While going through all the necessary regulatory hurdles in California, CROP Infrastructure is also concurrently undergoing the same process in Nevada and in Italy where it aims to open two dispensaries.
The company’s Humboldt County property in California has also just received new automation equipment which will improve efficiency and increase return on investment of finished inventory.
One of the property’s tenants is currently reviewing bids from distributors which seek to disseminate CROP Infrastructure’s products under the company’s Hempire, Evolution and White Rhino brands.
Furthermore, CROP Infrastructure has been notified that the property’s tenants are applying for an extraction license for Humboldt Farm, thereby increasing the amount of Stock Keeping Units (SKUs) for sale within the company’s proposed dispensaries.
To accommodate a wider range of product development, CROP Infrastructure has submitted building plans to the Humboldt County Building and Planning Department to increase production at their California property.
This build-out will add roughly 12,000 pounds of cannabis to the facilities existing annual output and an additional 3,000 pounds of secondary material.
With extraction and retail verticals now in process, the opportunity to maximize ROI on a significant scale presents the opportunity to control CROP’s tenant destiny and maximize future profits.
-Michael Yorke, CEO of CROP Infrastructure
CROP completes CBD harvest at Nevada property
Yesterday, CROP Infrastructure announced its tenant’s successful harvest of 240 acres of CBD hemp at one of the company’s Esmeralda County asset.
The company has sent samples from the harvest for independent testing. These tests will determine the crop’s CBD concentrations and will allow the company to attain a certificate of analysis (COA) for its product.
After obtaining the COA, the company plans to send the CBD to its toll processor partner to manufacture CBD isolate.
In October, CROP Infrastructure’s Nye County tenant signed a partnership with this toll processor. As per their deal, CROP Infrastructure tenants will provide this processor with hemp-CBD biomass which will then provide 50 percent of the ISO-certified CBD isolate to the respective tenant farm.
CROP Infrastructure’s tenant is also accepting proposals for bulk orders of its CBD isolate from the 2018 harvest.
Even with its 2018 harvest only just wrapping up, CROP Infrastructure has already completed site testing throughout its Hemp-CBD project and has announced its soil is ready for the 2019 planting season.
CROP Infrastructure is currently developing a line of CBD capsules and tinctures as end-products for its CBD isolate. These products will be sold under the company’s Hempire and TIFF CBD brands and used in the formulation of the upcoming Canna Drink beverage line.
CROP developing one-ton extraction facility
The last of CROP Infrastructure’s three announcements so far this month is news that the company has contracted an ISO/GMP rated extraction facility developer to build a one-ton per day extraction facility at its Nevada farm.
Late in October, the company announced a 500,000 pound annual supply agreement with a commercial extraction technology company.
This company will be providing CROP Infrastructure with extraction equipment for its proposed extraction facility.
The initial $3.2 Million, equivalent to ~89,000 pounds of product, will be allocated towards paying for 60% of the extraction facility. The balance of ~$2.0 Million, due in cash over the next eight months will be financed by revenue from the company’s operations.
Cannabis industry analysts, The Brightfield Group, estimate the hemp-CBD market could reach $22 billion by 2022.
To summarize, CROP Infrastructure is making serious moves to beef up its hemp-CBD production capabilities and the company’s dispensaries–at home and abroad–are making serious progress towards opening their doors.
CROP Infrastructure keeps the hits coming and we all love the sound.
Full disclosure: CROP Infrastructure is an Equity Guru marketing client.