Elite Ventures is on the brink of opening a 40-acre THC farm in Nevada.
Elite, a 49-percent-owned subsidiary of Crop Infrastructure (CROP.C), has cleared and graded the land for the farm in Esmeralda County, Nevada. Now construction is set to begin on a perimeter security wall next week.
Crop reported Jan. 3 the Esmeralda County facility will be completed in time for the 2019 outdoor planting season. Elite expects to produce more than 80,000 lbs of product at the farm comprising the following strains: Blueberry, 9 lb Hammer, Gelato, Tiffany CBD, Insane OG, Blue dream, Durban Poison, and Purple Kush.
The farm
The farm will be enclosed in an “an eight-foot-high block wall topped with razor wire and an interior chain link combination razor wire fence with a guard tower and CCTV,” according to the press release. The fence is expected to cost more than $600,000.
The Esmeralda County facility is part of a 1,000-acre parcel of land located 3.5 hours north of Las Vegas.
The 40-acre farm falls under phase one of a project that will also include a 60,000 square-foot greenhouse.
Phase two of the project will triple the size of the farm by adding 120 acres of outdoor cultivation space and 120,000 square feet of greenhouse space. There is no word yet on when phase two will begin.
Michael Yorke, Crop Infrastructure CEO, said the construction schedule is moving along smoothly for Elite Ventures.
The project is advancing on schedule and on budget with great thanks to the construction teams who continued working right up until Dec. 24 and are now back on site to ensure success of the farm in 2019.
— Michael Yorke, Crop CEO
Italian expansion
Building and expansion has been a recent theme with Crop. Last month Crop announced they were expanding into Italy.
https://equity.guru/2018/12/13/crop-infrastructure-crop-c-expands-in-italy-with-upgraded-greenhouse/
Equity Guru scribe Joseph Morton reported on the news about Crop’s Italian expansion and CEO Yorke said he sees Italy as Crop’s entry point into the European market.
Italy is our bridgehead into Europe. Our Italian partners are making significant progress on multiple fronts to ensure that the European operations are running at full capacity to take full advantage of the rapidly growing demand there. Our unique, high-CBD strains will position Crop as a low-cost and high-quality pure CBD provider, both domestically in North America and throughout the European market. The joint venture’s CBD products will be branded under the XHemplar and Crop brands Tiffany CBD and Hempire Italia.
— Michael Yorke, Crop CEO
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