VANCOUVER, British Columbia, January 24, 2019 /PRNewswire/ --
Crop Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today it will, initially, be making 100,000 premium Moon Rock Cones at one of its California subsidiaries as it expands its footprint in the state.
The raw material will be finished cannabis from CROP's Humboldt County farm which is trimmed, high grade flower and will be for distillate input for cartridges and pre-rolls cones that will then be dipped in kief (cannabis crystals) to make the infused cones. The infused cones will be Hempire and Evolution branded with custom filters bearing the name. Additional equipment to fulfill the order is expected to arrive shortly.
After some initial market research, the company has established the best-selling SKUS are cones and pens. The company has instructed its toll process partner to convert equivalent material to produce approximately 50 liters of oil to fill 75,000 half gram cartridges and 50,000 quarter gram disposable pens, as well as the company will roll and tube approximately 200,000 Hempire and evolution branded 1-gram infused cones.
The distributor has offices in Oakland and Orange County. The distribution network consists of approximately 350 licensed cannabis stores across California.
The farm will shortly be taking down an additional 10,000 sq. ft. of canopy crop for harvest. Additionally, the company has retained local engineers to plan and permit the 2019 expansion, including a proposed 30,000 sq. ft. automated greenhouse facility, extra vault space and security upgrades.
CROP also announced it has made a cannabis retail application in Chula Vista, California, for its Emerald Height's brand and is working with its local partners to apply in additional municipalities.
CROP CEO, Michael Yorke, stated: "Having wide distribution of a premium organic Infused Cone with over 100,000 branded units and 125,000 pen cartridges set to be consumed in California, this is a major step forward for our brand portfolio and tenant farm."
CROP is publicly listed on the CSE and trades under the symbol "CROP". CROP is focused on cannabis branding and real estate assets. CROP's portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm, 1,865 acres of CBD farms, extraction in Nevada and joint ventures on West Hollywood and San Bernardino dispensary apps with international focuses in Jamaica and Italy.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands. CROP's infrastructure has over 150,000 sq ft of built canopy and over 2,900 acres of real estate.
Disclaimer for Forward-Looking Information
Certain statements in this press release are forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect. These statements generally can be identified by the use of forward-looking words such as "may", "should", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the expected returns from the California Project; the technological effects of California Project; the intention to expand its portfolio; and execute on its business plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the regulatory and legal framework regarding the cannabis industry in general among all levels of government and zoning; risks associated with applicable securities laws and stock exchange rules relating to the cannabis industry; risks associated with maintaining its interests in its various assets; the ability of the Company to finance operations and execute its business plan and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press release.
SOURCE Crop Infrastructure Corp.