Proactiveinvestors USA & Canada Crop Infrastructure Corp. https://www.proactiveinvestors.com Proactiveinvestors USA & Canada Crop Infrastructure Corp. RSS feed en Mon, 18 Feb 2019 02:19:19 -0500 http://blogs.law.harvard.edu/tech/rss Genera CMS action@proactiveinvestors.com (Proactiveinvestors) action@proactiveinvestors.com (Proactiveinvestors) <![CDATA[News - CROP Infrastructure receives 2019 production, extraction licenses for Nevada hemp operations ]]> https://www.proactiveinvestors.com/companies/news/214652/crop-infrastructure-receives-2019-production-extraction-licenses-for-nevada-hemp-operations-214652.html CROP Infrastructure Corp (OTCMKTS:CRXPF) (CNSX:CROP) announced Thursday that its 49%-owned subsidiary Elite Ventures reported that Hempire, the company's Nevada tenant, has been issued production and extraction licenses.

Hempire received hemp handler, hemp nursery and hemp grower licenses covering 1,350 irrigated acres on its 2,115 acres of owned or leased Cannabidiol (CBD) focused lands.

A hemp handler is registered with the licensing department to receive industrial hemp for processing into commodities, products or agricultural hemp seed.

DEEP DIVE: CROP Infrastructure looks to capitalize on the “green rush”

CROP said the company applied for its hemp grower licence, nursery and hemp handler licence in anticipation of its lab extracting and producing CBD isolate with a throughput capacity of one ton per day of raw biomass.

The company increased the acreage covered by its hemp licences from 240 acres of cultivation in 2018 to 1,350 acres of irrigated cultivation for 2019.

"With the increased size and operating range of our tenant's licenses, CROP's Nevada CBD operations are emerging into a truly world class operation,” said CROP CEO Michael Yorke in a statement. “Our land holdings, micropropagation team, strategies, drying and extraction capabilities and supply agreements will enable us to operate from seeds to isolate to sales in 2019."

CROP’s portfolio of cannabis projects include cultivation properties in California and Washington state, a 1,000-acre Nevada cannabis farm and extraction work in Nevada.

CROP subsidiary Elite Ventures has completed a 1,600 square foot genetics, tissue-culturing and micropropagation lab at its Nevada tetrahydrocannabinol farm. The lab will aim to provide 10 million plant starts for the company's 2,115 acres of CBD farms.

By propagating in the lab, the company will save around $3 million in seed and planting costs for the 2019 season.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Thu, 14 Feb 2019 09:04:00 -0500 https://www.proactiveinvestors.com/companies/news/214652/crop-infrastructure-receives-2019-production-extraction-licenses-for-nevada-hemp-operations-214652.html
<![CDATA[News - Crop says cannabis business application for San Bernardino, California, reaches final stage ]]> https://www.proactiveinvestors.com/companies/news/214481/crop-says-cannabis-business-application-for-san-bernardino-california-reaches-final-stage-214481.html Crop Infrastructure Corp (OTCMKTS:CRXPF) (CNSX:CROP) announced Tuesday that it has received confirmation that its San Bernardino, California, retail cannabis business application has reached the final phase.

The Vancouver-based company said in a statement that its executives will attend a special meeting of the mayor and city council to make a three-minute presentation followed by a question-and-answer session.

READ: Crop Infrastructure announces up to C$4M convertible debenture offering by the cannabis company

As announced on July 5, Crop agreed to finance the purchase of real estate upon the granting of a California dispensary license. Its proposed dispensaries will operate under the brand Emerald Heights.

“Crop has high expectations for Emerald Heights at this location,” CEO Michael Yorke said. “The team has done its market and location research very well and is now in the final phase of the application process in San Bernardino.”

Shares of the company traded at C$0.32 in Tuesday’s Canadian trading. They fetched US$0.25 on the OTC Markets.

Crop’s projects include operations in California, Washington State and Nevada.

Last week, the company announced its plan to raise as much as C$4 million in a senior secured convertible debenture offering.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 12 Feb 2019 11:29:00 -0500 https://www.proactiveinvestors.com/companies/news/214481/crop-says-cannabis-business-application-for-san-bernardino-california-reaches-final-stage-214481.html
<![CDATA[News - Crop Infrastructure announces up to C$4M convertible debenture offering by the cannabis company ]]> https://www.proactiveinvestors.com/companies/news/214277/crop-infrastructure-announces-up-to-c4m-convertible-debenture-offering-by-the-cannabis-company-214277.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) announced its plan to raise as much as C$4 million in a senior secured convertible debenture offering.

The cannabis branding and real estate asset company said Thursday in a statement that each unit will be made up of C$1,000 in principal amount of senior secured convertible debenture and one share purchase warrant per C$0.30 of principal amount.

READ: Crop says Washington State tenant’s cannabis crops pass tests for impurities

Each warrant, according to the company, entitles the holder to acquire one common share at an exercise price of $0.50 per warrant share for a period of three years from the date of the offering’s closing.

At any time, the company said, holders may convert all or part of the principal amount for the debentures into common shares at a conversion price of C$0.30 per conversion share.

Shares of Crop climbed C$0.01 to C$0.32 in Thursday’s Canadian trading. They traded at US$0.25 on the OTC Markets.

The company's portfolio of projects includes cultivation properties in California, two in Washington State and a 1,000-acre Nevada cannabis farm.

Earlier this week, the company said its Washington State tenant’s first cannabis crops had passed all tests for microbial impurities and showed no detectable pesticides.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Fri, 08 Feb 2019 08:20:00 -0500 https://www.proactiveinvestors.com/companies/news/214277/crop-infrastructure-announces-up-to-c4m-convertible-debenture-offering-by-the-cannabis-company-214277.html
<![CDATA[News - Crop says Washington State tenant’s cannabis crops pass tests for impurities ]]> https://www.proactiveinvestors.com/companies/news/214195/crop-says-washington-state-tenants-cannabis-crops-pass-tests-for-impurities-214195.html Crop Infrastructure Corp (CNSX:CROP) (OTCMKTS:CRXPF) said Thursday that its Washington State tenant’s first cannabis crops passed all tests for microbial impurities and showed no detectable pesticides.

The cannabis company said in a statement that nine strains are now cleared for sale in Washington State.

READ: Crop Infrastructure closes oversubscribed $3 million private placement

“This is an excellent result and certainly bodes well for the future,” CEO Michael Yorke said in a statement. “Crop's tenant production teams continue to show what meticulous controls, defined production protocols and a focus on organic operations can mean in terms of resulting products."

The samples showed a range of results for tetrahydrocannabolic acid, whose presence is analyzed when cannabis or hemp-based products are screened for tetrahydrocannabinol (THC), the psychoactive component of cannabis.

The tenant, according to Crop, is working with bulk extraction buyers as well as retailers under the Hempire and Evolution brands in Washington State.

Shares of Crop traded at C$0.32 in Wednesday’s Canadian trading. They fetched US$0.25 on the OTC Markets.

Earlier this week, Crop said it had closed an oversubscribed C$3 million private placement.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 07 Feb 2019 08:58:00 -0500 https://www.proactiveinvestors.com/companies/news/214195/crop-says-washington-state-tenants-cannabis-crops-pass-tests-for-impurities-214195.html
<![CDATA[News - CROP Infrastructure closes oversubscribed $3 million private placement ]]> https://www.proactiveinvestors.com/companies/news/214039/crop-infrastructure-closes-oversubscribed-3-million-private-placement-214039.html CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) said Tuesday that it has closed an oversubscribed C$3 million private placement. 

The cannabis company said it closed its non-brokered private placement raising $3,086,244 by issuing up to 10,287,480 units at a price of $0.30 per unit.

Each unit consists of one share and one warrant. Each warrant entitles the holder to purchase an additional share at an exercise price of $0.50 for a period of 24 months after the close of the offering.

"With the closing of this private placement CROP is now capitalized to complete the construction of its 40-acre outdoor Nevada farm, build an additional 30,000 square feet of greenhouse space in California and begin identifying entry opportunities into additional states," said CEO Michael Yorke in a statement. 

READ: Crop Infrastructure's final inspection on Nevada farm is done and licenses are expected soon

CROP’s portfolio of cannabis projects include cultivation properties in California and Washington state, a 1,000-acre Nevada cannabis farm and extraction work in Nevada.

The company also said that in connection with the closing, the company paid C$38,333.98 in commissions and issued 128,780 brokers warrants exercisable at C$0.50 for a period of two years.

Further to this, CROP said it has converted $1,193,000 in outstanding debts at the same price as the private placement by the issuance of 3,976,667 units.

Shares of CROP were at C$0.34 on Tuesday. 

 

 

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Tue, 05 Feb 2019 18:52:00 -0500 https://www.proactiveinvestors.com/companies/news/214039/crop-infrastructure-closes-oversubscribed-3-million-private-placement-214039.html
<![CDATA[News - Crop Infrastructure's final inspection on Nevada farm is done and licenses are expected soon ]]> https://www.proactiveinvestors.com/companies/news/214023/crop-infrastructure-s-final-inspection-on-nevada-farm-is-done-and-licenses-are-expected-soon-214023.html Crop Infrastructure (CSE:CROP) (OTC:CRXPF) announced Tuesday that it is set to receive its final medical and recreational licenses later this month now that a final inspection has been completed at its tetrahydrocannabinol (THC) cultivation, extraction and production facility in Nevada.

In other news, construction at the 40-acre Nevada operation is still continuing on the site’s perimeter wall. The farm will be protected by an eight-foot-high block wall topped with razor wire and an interior chain link combination razor wire fence with a guard tower and closed-circuit television. 

READ: Crop says Elite Ventures subsidiary completes grading of 40 acres for THC farm in Nevada

The Nevada project, which is 50% paid for, is set to cost C$500,000 and is forecast to yield 80,000 pounds of cannabis.

The company is now accepting off-take orders and supply agreement requests for the 2019 cannabis harvest.

READ: Crop Infrastructure completes work on advanced Nevada genetics lab

“With our ultra-low cost and organic outdoor focus in Nevada, our tenant farms will provide extractors with cost-effective extraction materials giving both Crop and our tenants a significant competitive advantage in Nevada for the 2019 season and beyond,” Michael Yorke, Crop’s CEO, said in a statement.

Based in Vancouver, Crop’s portfolio of cannabis projects include cultivation properties in California and Washington state, a 1,000-acre Nevada cannabis farm and extraction work in Nevada.

Crop shares slipped 2.9% to C$0.34 in Tuesday’s morning trading session.

Contact Ellen Kelleher at ellen@proactiveinvestors.com

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Tue, 05 Feb 2019 10:51:00 -0500 https://www.proactiveinvestors.com/companies/news/214023/crop-infrastructure-s-final-inspection-on-nevada-farm-is-done-and-licenses-are-expected-soon-214023.html
<![CDATA[News - The lucky winner of the POT stock symbol is ... ]]> https://www.proactiveinvestors.com/companies/news/213755/the-lucky-winner-of-the-pot-stock-symbol-is--213755.html The stock symbol POT is no longer up for grabs -- but the mystery about which company has nabbed the coveted identifier continues.

The POT ticker was allocated to a publicly listed company in a random lottery held Wednesday, but Canada's largest stock exchange operator is not revealing the winner.

According to the TMX Group, roughly 40 eligible ballots were submitted to participating exchanges, including the Toronto Stock Exchange, the TSX Venture Exchange, the Canadian Securities Exchange and the Aequitas NEO Exchange.

READ: Crop Infrastructure makes two key hires to advance its genetics program

TMX Group said a currently listed company was selected but wouldn’t reveal the name of the company.

“The company will be notified by their exchange, it is up to the company to make an announcement,” said Catherine Kee, a spokeswoman for TMX, which operates the Toronto Stock Exchange and the TSX Venture Exchange.

POT ticker was floating around

The Canadian stock ticker symbol POT was previously the symbol for the Potash Corp. of Saskatchewan, which merged with privately held Agrium last year. 

Although the ticker can be used as early as Friday, the winning issuer will have up to 90 days following the lottery to change its symbol to POT, according to Kee. 

The winner isn't allowed to transfer the rights to the symbol to anyone else.

Other cannabis companies have catchy stock tickers as well, including Weekend Unlimited Inc (CSE:YOLO), 1933 Industries Inc (CSE:TGIF) and Crop Infrastructure (CSE:CROP). 

 

Contact Katie Lewis at katie@proactiveinvestors.com
Follow her on Twitter: @kelewis

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Thu, 31 Jan 2019 13:26:00 -0500 https://www.proactiveinvestors.com/companies/news/213755/the-lucky-winner-of-the-pot-stock-symbol-is--213755.html
<![CDATA[News - Crop Infrastructure makes two key hires to advance its genetics program ]]> https://www.proactiveinvestors.com/companies/news/213638/crop-infrastructure-makes-two-key-hires-to-advance-its-genetics-program-213638.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) announced Wednesday that it has made two strategic hires to head up its genetics lab and ready the company for its 2019 CBD production season.

The new division will be developing high-grade CBG and CBN genetics for the company's farms. There are more than 80 chemicals in the class of compounds known as cannabinoids found in the marijuana plant. CBG and CBN belong to the spectrum of cannabinoids and are believed to have pain-relieving and inflammation-reducing properties.

Patrick McLoughlin has been appointed as director of the newly created division of Micropropagation and Genetics at Crop. Zachary Lindskoog has bee named as production manager.

BIG PICTURE: CROP Infrastructure looks to capitalize on the “green rush”

McLoughlin graduated with a B.Sc. in plant breeding and genetics from Cornell University in 2016 and obtained his M.Sc. in horticulture from Mississippi State University in 2018.

He has previously worked on projects breeding resistance to downy mildew in impatiens walleriana, popularly known as Busy Lizzie, as well as studied plant-pathogen interactions between New Guinea impatiens and charcoal rot, or macrophomina phaseolina. His main academic pursuits in recent years have been incorporating tissue culture to grow plants and pathogens in-vitro for production, as well as for further study.

McLoughlin also worked as an intern at a breeding company specializing in hops, which is in the same family as cannabis and his knowledge in this developed industry will help bolster Crop’s genetics program.

Lindskoog studied at the College of Agriculture and Life Science at Cornell University. He has a B.Sc. in plant breeding and genetics with cum laude honors. He was the lab production manager for a local tissue culture operation during his undergraduate studies. He has six years of experience with in-vitro protocol development with numerous crops.

In addition to the comprehensive micropropagation laboratory experience, Lindskoog also brings years of in the field breeding experience to the division, which includes controlled pollinations, organoleptic trait scoring, molecular markers, inbred lines, and other modern breeding techniques.

READ: Crop Infrastructure set to make 100,000 infused cannabis cones at its California farm

"These are key hires at Crop’s 49%-owned CBD farm where advanced propagation techniques will bring costs down significantly for the 500,000-pound per year supply agreement and the estimated 3,000,000 pounds of 2019 production, as well as benefit our expansion plans overall," said Crop CEO Michael Yorke.

Last week, Crop Infrastructure said its 49%-owned subsidiary Elite Ventures had completed a 1,600 square foot genetics, tissue-culturing and micropropagation lab at its Nevada tetrahydrocannabinol farm. The lab will aim to provide 10 million plant starts for the company's 2,115 acres of CBD farms.

By propagating in the lab, the company will save around $3 million in seed and planting costs for the 2019 season.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 30 Jan 2019 10:46:00 -0500 https://www.proactiveinvestors.com/companies/news/213638/crop-infrastructure-makes-two-key-hires-to-advance-its-genetics-program-213638.html
<![CDATA[News - Crop Infrastructure set to make 100,000 infused cannabis cones at its California farm ]]> https://www.proactiveinvestors.com/companies/news/213277/crop-infrastructure-set-to-make-100000-infused-cannabis-cones-at-its-california-farm-213277.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) has made further advances in its brand portfolio, it told investors Thursday.

The Vancouver-based company says it will make 100,000 premium Moon Rock Cones at its Humboldt county farm in California as it expands its footprint in the state.

READ: Crop Infrastructure completes work on advanced Nevada genetics lab

The finished cannabis product will be for distillate for use in cartridges and pre-rolls cones that will then be dipped in kief (cannabis crystals) to make the infused cones, the company said.

After some initial market research, the company has established the best-selling SKUS (stock keeping units) are cones and pens, said Crop.

The company's toll process partner will convert equivalent material to produce around 50 liters of oil to fill 75,000 half gram cartridges and 50,000 quarter gram disposable pens.

Crop will also roll and tube approximately 200,000 Hempire and evolution branded 1-gram infused cones.

"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," said Crop's CEO Michael Yorke in a statement Thursday.

Around 350 licensed stores

The company's distributor has a network of around 350 licensed cannabis stores across California.

Humboldt will harvest soon a further 10,000 sq. ft. of canopy crop.

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.

The company 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.

It's been a busy week for the company. Yesterday, it said its 49%-owned subsidiary Elite Ventures had completed a 1,600 sq. ft. genetics, tissue culturing and micropropagation lab at its Nevada tetrahydrocannabinol farm.

The lab will aim to provide 10 million plant starts for the company's 2,115 acres of CBD farms.

By propagating in the lab, the company will save around $3 million in seed and planting costs for the 2019 season.

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Thu, 24 Jan 2019 09:55:00 -0500 https://www.proactiveinvestors.com/companies/news/213277/crop-infrastructure-set-to-make-100000-infused-cannabis-cones-at-its-california-farm-213277.html
<![CDATA[News - Crop Infrastructure completes work on advanced Nevada genetics lab ]]> https://www.proactiveinvestors.com/companies/news/213181/crop-infrastructure-completes-work-on-advanced-nevada-genetics-lab-213181.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) announced Wednesday that it has completed a 1,600 square feet genetics, tissue culturing and micropropagation lab at its Nevada tetrahydrocannabinol farm.

The work is being carried out by its 49%-owned subsidiary Elite Ventures.

Crop Infrastructure stock opened 0.6% higher at $0.24 on Tuesday in the OTC Markets.

READ: Crop says Italian cannabidiol greenhouse owned with XHemplar SRL upgraded for 2019 growing season

The laboratory will aim to provide 10 million plant starts for the company's 2,115 acres of CBD farms.

By propagating in the lab, the company will save around $3 million in seed and planting costs for the 2019 season.

The following strains have been chosen for the project: Blueberry, 9 lb Hammer, Gelato, Tiffany CBD, Insane OG, Blue dream, Durban Poison and Purple Kush.

READ: Crop says Elite Ventures subsidiary completes grading of 40 acres for THC farm in Nevada

Crop is also working with lease financiers to build a 60,000-square-foot greenhouse facility on the property to produce higher quality flower.

The farm will be protected by an eight-foot-high block wall topped with razor wire and an interior chain link combination razor wire fence with a guard tower and closed-circuit television.

The building blocks needed for the perimeter security wall have been ordered and are expected to be delivered to the site “shortly” for construction, said the company.

The company also said the newly-completed building will get its “final inspection next week” from the Cannabis Licensing Board. If everything goes as planned, the board will give its approval for recreational cannabis cultivation, production and commercial kitchen.

The Vancouver-based cannabis company also announced a non-brokered private placement offering to raise up to C$2.0 million, by issuing up to 6,666,667 units at a price of $0.30 per unit.

Each unit will consist of one share and one warrant. Each warrant entitles the holder to purchase an additional share at an exercise price of $0.50 for a period of 24 months after the close of the offering. Completion of the offering is subject to regulatory approval.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 23 Jan 2019 09:34:00 -0500 https://www.proactiveinvestors.com/companies/news/213181/crop-infrastructure-completes-work-on-advanced-nevada-genetics-lab-213181.html
<![CDATA[News - Crop Infrastructure boosted as it reveals it's nearly done with Nevada genetics lab ]]> https://www.proactiveinvestors.com/companies/news/212084/crop-infrastructure-boosted-as-it-reveals-it-s-nearly-done-with-nevada-genetics-lab-212084.html Crop Infrastructure Corp (CSE:CROP) told investors that it has nearly finished a 1,600 sq ft genetics, tissue culturing and micropropagation lab at its Nevada Farms, sending shares higher.

The work is being carried out by its 49%-owned subsidiary Elite Ventures.

READ: Crop says Elite Ventures subsidiary completes grading of 40 acres for THC farm in Nevada

The laboratory will aim to provide 10 million plant starts for the company's 2,115 acres of CBD farms.

By propagating in the lab, the company will save around $3 million in seed and planting costs for the 2019 season.

"The development of this genetics and micropropagation lab is further demonstration of our team's dedication to keeping our genetics portfolio and brands at the fore front of this industry," said CROP CEO, Michael Yorke.

"Teams worked steadily through the later part of the year and Holiday season on the construction and development of this lab which will save the company and our stakeholders a significant amount in 2019 and beyond."

Cannabis industry analysts The Brightfield Group, estimate the hemp-CBD market alone could reach an eye-watering $22 billion by 2022.

Last week, Crop said that the Elite subsidiary had graded and cleared 40 acres at its Nevada tetrahydrocannabinol farm and will begin construction of the security wall next week.

The Vancouver-based cannabis company said the project will be completed in time for the 2019 outdoor planting, which is forecast to yield in excess of 80,000 pounds.

The following strains have been chosen for the project: Blueberry, 9 lb Hammer, Gelato, Tiffany CBD, Insane OG, Blue dream, Durban Poison and Purple Kush.

Crop is also working with lease financiers to build a 60,000-square-foot greenhouse facility on the property to produce higher quality flower.

The farm will be protected by an eight-foot-high block wall topped with razor wire and an interior chain link combination razor wire fence with a guard tower and closed-circuit television.

The cost is expected to be $600,000, with final pricing on the greenhouse to be determined.

Crop Infrastructure shares in Toronto added 5.56% to stand at $0.38.

Contact Giles at giles@proactiveinvestors.com

Follow him on Twitter @Gile74

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Mon, 07 Jan 2019 11:32:00 -0500 https://www.proactiveinvestors.com/companies/news/212084/crop-infrastructure-boosted-as-it-reveals-it-s-nearly-done-with-nevada-genetics-lab-212084.html
<![CDATA[News - Crop says Elite Ventures subsidiary completes grading of 40 acres for THC farm in Nevada ]]> https://www.proactiveinvestors.com/companies/news/211918/crop-says-elite-ventures-subsidiary-completes-grading-of-40-acres-for-thc-farm-in-nevada-211918.html Crop Infrastructure Corp (CSE:CROP) said Thursday that its 49%-owned Elite Ventures subsidiary has graded and cleared 40 acres at its Nevada tetrahydrocannabinol farm and will begin construction of the security wall next week.

The Vancouver-based cannabis company said in a press release that the project will be completed in time for the 2019 outdoor planting, which is forecast to yield in excess of 80,000 pounds.

READ: Crop says Italian cannabidiol greenhouse owned with XHemplar SRL upgraded for 2019 growing season

The following strains have been chosen for the project: Blueberry, 9 lb Hammer, Gelato, Tiffany CBD, Insane OG, Blue dream, Durban Poison and Purple Kush.

Crop is also working with lease financiers to build a 60,000-square-foot greenhouse facility on the property to produce higher quality flower.

The farm will be protected by an eight-foot-high block wall topped with razor wire and an interior chain link combination razor wire fence with a guard tower and closed-circuit television. The cost is expected to be C$600,000, with final pricing on the greenhouse to be determined.

The company is now accepting 2019 off-take orders and supply-agreement requests from processors, distributors and retail outlets.

"The project is advancing on schedule and on budget with great thanks to the construction teams who continued working right up until December 24 and are now back on site to ensure success of the farm in 2019,” CEO Michael Yorke said in a statement.

Shares of Crop fetched C$0.34 in Thursday’s Canadian trading. They climbed US$0.03 to US$0.25 on the OTC Markets.

Last month, the company said that its Italian cannabidiol greenhouse had been upgraded and was ready for the 2019 growing season.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 03 Jan 2019 09:12:00 -0500 https://www.proactiveinvestors.com/companies/news/211918/crop-says-elite-ventures-subsidiary-completes-grading-of-40-acres-for-thc-farm-in-nevada-211918.html
<![CDATA[News - Crop says Italian cannabidiol greenhouse owned with XHemplar SRL upgraded for 2019 growing season ]]> https://www.proactiveinvestors.com/companies/news/211168/crop-says-italian-cannabidiol-greenhouse-owned-with-xhemplar-srl-upgraded-for-2019-growing-season-211168.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF ) said Thursday that its Italian cannabidiol greenhouse has been upgraded and is ready for the 2019 growing season.

The Vancouver-based cannabis company said in a press release that it and partner XHemplar are working with Italian agencies to import cannabidiol genetics for the 87,120-square-foot facility that the companies own.

Crop added that discussions are underway with an Italian pharmaceutical company regarding the 2019 harvests.

READ: Cannabis companies heartened as New York weighs legalization and US farm bill nears passage

"Italy is our bridgehead into Europe,” Crop CEO Michael Yorke said in a statement. ”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.”

The new facility has a perimeter security fence and is finishing a close-circuit TV security system.

The hemp cannabidiol market could reach C$22 million by 2022, according to Crop, citing figures from analysts at the Chicago-based Brightfield Group.

Shares of Crop climbed C$0.02 to C$0.42 in Thursday’s Canadian trading. They gained US$0.02 to US$0.31 on the OTC Markets.

Earlier this month, Crop said it had begun development of a greenhouse and outdoor farm in Nevada.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 13 Dec 2018 09:38:00 -0500 https://www.proactiveinvestors.com/companies/news/211168/crop-says-italian-cannabidiol-greenhouse-owned-with-xhemplar-srl-upgraded-for-2019-growing-season-211168.html
<![CDATA[News - Cannabis companies heartened as New York weighs legalization and US farm bill nears passage ]]> https://www.proactiveinvestors.com/companies/news/211090/cannabis-companies-heartened-as-new-york-weighs-legalization-and-us-farm-bill-nears-passage-211090.html Political winds are blowing in favor of cannabis companies.

New York Governor Andrew Cuomo plans to urge state lawmakers during his budget address to legalize recreational marijuana. A spokesman for the governor told NBC News that “we’re drafting legislation” when asked about decriminalization.

READ: Crop says farm bill legalizing industrial hemp is within 'hair’s breadth' of becoming law after US Senate passage

Marijuana companies are also getting help on the federal level. US senators voted 87-13 on Tuesday to approve an $867 billion farm bill that includes a provision legalizing industrial hemp. A House of Representatives vote is expected this week.

Hemp is a source of cannabidiol, which is used as an alternative treatment of epilepsy, Alzheimer’s and other neurological disorders. Beverages made with cannabidiol are promoted as pain relievers while lacking psychoactive properties.

Currently, 40 states oversee hemp cultivation “pilot programs” for industrial and commercial purposes.

The legalization of hemp … will blow off the political barn doors that have been restricting our industry,” Crop Infrastructure Corp (CNSX:CROP) (OTCMKTS:CRXPF) CEO Michael Yorke said in a statement Wednesday.

The Vancouver-based company provides financing for land expansion and greenhouses as well as help with branding. Its shares climbed C$0.41, or 9.3%, to C$0.41 in Canadian trading and 9.5%, or US$0.03, to US$0.31 on the OTC Markets.

Cannabidiol outlook

York expects cannabidiol to grow into a C$22 billion industry by 2022.

The expected push in New York follows a Nov. 6 Election Day bonanza in which Michigan became the 10th state to allow recreational use of marijuana while measures to allow medical use of cannabis were passed in Missouri and Utah. A provision allowing recreational pot in North Dakota failed.

Canada beat Michigan to the punch several weeks earlier, legalizing recreational marijuana use by adults on Oct. 17.

Medical cannabis financier Redfund Capital Corp (CSE:LOAN) (OTCMKTS: PNNRF) said a couple of days after the US votes that the legalization of marijuana in three additional states was a milestone for the industry and its clients.

“The midterm elections are a positive sign to all of us that the United States will mainstream medical cannabis in the very near future,” CEO Meris Kott said in a statement. “We look forward to expanding into markets supporting these initiatives."

Silicon Valley client

Vancouver-based Redfund’s clients include Biolog Inc, a Silicon Valley company that is advancing a technology to add cannabis to food and beverages, and RxMM Health Care, a company in Irvine, California, whose products including a treatment for Alzheimer’s.

Redfund gained 1.8%, or C$0.01, to C$0.29 in Wednesday’s Canadian trading.

Meanwhile, Smiths Falls, Ontario-based Canopy Growth Corp (TSX:WEED) (NYSE:CGC) is the “best way” to play the Canadian cannabis market, said Jim Cramer, the CNBC stock picker. he prefers the company to Toronto-based Cronos Group Inc (NYSE:CGC) (NASDAQ:CRON), which recently attracted a US$1.8 billion investment from the tobacco giant Altria Group (NYSE:MO).

Canopy Growth fell 2.7%, or US$0.91, to US$32.23 in Wednesday’s New York Stock Exchange trading. Cronos was down 4.3%, or US$0.56, to US$12.26.


--Ellen Kelleher and Katie Lewis contributed to this report--

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Wed, 12 Dec 2018 15:03:00 -0500 https://www.proactiveinvestors.com/companies/news/211090/cannabis-companies-heartened-as-new-york-weighs-legalization-and-us-farm-bill-nears-passage-211090.html
<![CDATA[News - Crop says farm bill legalizing industrial hemp is within 'hair’s breadth' of becoming law after US Senate passage ]]> https://www.proactiveinvestors.com/companies/news/211069/crop-says-farm-bill-legalizing-industrial-hemp-is-within--hairs-breadth--of-becoming-law-after-us-senate-passage-211069.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) hailed on Wednesday the US farm bill’s passage in the Senate, saying the legislation legalizing industrial hemp as a crop  is within “a hair’s breadth” of becoming law.

Senators voted 87-13 to approve the US$867 billion legislation, which distinguishes industrial hemp from more potent strains of marijuana. The farm bill now heads to the House of Representatives, where it is expected to pass. A breakthrough occurred after stricter requirements for food stamp recipients were eliminated.

READ: Crop Infrastructure cannabis subsidiary Elite Ventures leases 250 more acres in Nevada

“The legalization of hemp … will blow off the political barn doors that have been restricting our industry,” CEO Michael Yorke said in a statement.

Anticipating passage of the farm bill, Crop announced earlier in December that its 49%-owned subsidiary, Elite Ventures, had leased an additional 250 acres in Nevada. The move brings the company's 2019 holdings in the state to 2,115 acres, with 1,350 acres already under pivot irrigation for hemp cannabidiol production.

“We are planning to stay well ahead of the curve on hemp and its products as all indications are that this sector alone will prove far more vigorous than was initially forecast,” Yorke said.

The Farm Bill will effectively take hemp off the federal controlled substances list, which will allow farmers to pursue federal hemp cultivation permits. States may also decide to regulate the industry within their own borders as they wish.

Currently, 40 states oversee hemp cultivation “pilot programs” for industrial and commercial purposes. With the new law in place, oversight of hemp-derived CBD will now become clearer. 

Shares of Crop traded at C$0.38 in Tuesday’s Canadian trading. They climbed US$0.01 to US$0.29 on the OTC Markets.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

 

 

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Wed, 12 Dec 2018 09:24:00 -0500 https://www.proactiveinvestors.com/companies/news/211069/crop-says-farm-bill-legalizing-industrial-hemp-is-within--hairs-breadth--of-becoming-law-after-us-senate-passage-211069.html
<![CDATA[News - Crop Infrastructure begins development of Nevada cannabis greenhouse and outdoor farm ]]> https://www.proactiveinvestors.com/companies/news/210697/crop-infrastructure-begins-development-of-nevada-cannabis-greenhouse-and-outdoor-farm-210697.html Crop Infrastructure Corp (CSE:CROP) (OTC:CRXPF) said Thursday that it has begun development of a greenhouse and outdoor farm in Nevada.

The Vancouver-based company said in a press release that the first phase includes 1.7 million square feet (40 acres) outdoors and 60,000 square feet of greenhouse.

READ: Crop Infrastructure cannabis subsidiary Elite Ventures leases 250 more acres in Nevada

The cost is expected to be C$600,000, with final pricing being determined for the greenhouse. Phase 1's outdoor output is estimated to be roughly 80,000 pounds per year.

"Crop will now bring our style of low-cost cannabis cultivation to Nevada tenants, giving residents and visitors of Nevada a superior product at a lower price,” CEO Michael Yorke said in a statement.

The company added that the second phase of the project will triple the size and output of the farm with the addition of 5.2 million square feet (120 acres) and an additional 120,000 square feet of greenhouse. The project sits on 1,000 acres 3 1/2 hours north of Las Vegas.

The company is accepting 2019 orders and supply agreement requests from processors, distributors and retail outlets.

Shares of Crop traded at C$0.28 in Wednesday’s Canadian trading.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 06 Dec 2018 09:03:00 -0500 https://www.proactiveinvestors.com/companies/news/210697/crop-infrastructure-begins-development-of-nevada-cannabis-greenhouse-and-outdoor-farm-210697.html
<![CDATA[News - Crop Infrastructure cannabis subsidiary Elite Ventures leases 250 mores acres in Nevada ]]> https://www.proactiveinvestors.com/companies/news/210513/crop-infrastructure-cannabis-subsidiary-elite-ventures-leases-250-mores-acres-in-nevada-210513.html Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) said Tuesday that its Elite Ventures subsidiary has leased 250 more acres in Nevada.

The move will increase Elite’s holdings in the state to 2,115 acres, with 1,350 acres already under pivot irrigation, Crop said in a press release.

READ: Crop Infrastructure says cannabis farm in Washington State enters sales phase

The additional leased land comes as a provision legalizing industrial hemp and distinguishing it from the much more potent strains of marijuana is included in the US farm bill.

"As you can see from our summary of the significant points of this bill, the positive impact on the industry in the US will be enormous,"  Crop CEO Michael Yorke said in a statement. "The positive impact on the industry in the US will be enormous. It will show the world that our industry is here to stay. "It will show the world that our industry is here to stay." 

In October, Crop announced a three-year, cannabidiol (CBD) biomass supply agreement in the United States valued at US$18 million to US$28 million, depending on CBD content.

The hemp CBD market could increase to US$22 billion by 2022, according to Crop, citing an estimate from The Brightfield Group, a cannabis market intelligence group in Chicago.

Shares of Crop slipped C$0.01 to C$0.31 in Tuesday’s Canadian trading. They were down US$0.01 to US$0.22 on the OTC Markets.



Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 04 Dec 2018 11:56:00 -0500 https://www.proactiveinvestors.com/companies/news/210513/crop-infrastructure-cannabis-subsidiary-elite-ventures-leases-250-mores-acres-in-nevada-210513.html
<![CDATA[News - Crop Infrastructure reaches California processing and retail distribution deal ]]> https://www.proactiveinvestors.com/companies/news/210232/crop-infrastructure-reaches-california-processing-and-retail-distribution-deal-210232.html Crop Infrastructure Corp (CNSX:CROP) (OTCMKTS:CRXPF) said Thursday it has signed a processing agreement with a manufacturer that will produce cannabis oils, crumbles and distillates for sale in California.

Vancouver-based Crop said in a press release that the manufacturer will work with finished cannabis that is being trimmed or drying from Crop’s Humboldt County farm in California. The farm reports 10,000 square feet of flowering for late-stage harvest. The company added that it is working on obtaining permits for its 2019 expansion, including a proposed 30,000-square-foot automated greenhouse.

READ: Crop Infrastructure says cannabis farm in Washington State enters sales phase

Separately, Crop said that under a distribution agreement, the cannabis will be sold using its Hempire brand for estimated gross revenue of about $1,600 per pound of flower. The company has allocated 750 pounds of inventory to be sold under the brand.

“Processing and distribution are key agreements in getting our product onto hundreds of potential retail shelves,” CEO Michael Yorke said in a statement. “Crop's core goal is maximizing its return on investment from tenant 2018 production, while preparing and building relationships for an exciting 2019."

Earlier this week, Crop said its tenant at the Wheeler Park, Washington, greenhouse complex known as the “The Park” has submitted several strains of finished cannabis flower to quarantine in preparation for sale.

Shares of Crop climbed C$0.04 to C$0.34 in Wednesday’s Canadian trading. They advanced US$0.03 to US$0.25 on the OTC market.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 29 Nov 2018 08:58:00 -0500 https://www.proactiveinvestors.com/companies/news/210232/crop-infrastructure-reaches-california-processing-and-retail-distribution-deal-210232.html
<![CDATA[News - Crop Infrastructure says cannabis farm in Washington State enters sales phase ]]> https://www.proactiveinvestors.com/companies/news/210041/crop-infrastructure-says-cannabis-farm-in-washington-state-enters-sales-phase-210041.html Crop Infrastructure Corp (CNSX:CROP) (OTCMKTS:CRXPF) said Tuesday its tenant at the greenhouse complex in Wheeler Park, Washington, known as the “The Park” has submitted several strains of finished cannabis flower to quarantine in preparation for sale.

The Vancouver-based company said in a press release that once certificates of analysis are received, the finished cannabis will be sold to licensed retailers.

READ: Crop Infrastructure thanks 3 US states for legalizing marijuana

The company is currently accumulating inventories of strains including Darth Vader, Gorilla Glue, 9 LB Hammer, Pitbull, THC Bomb and Wa Woo.

The Park's 35,000-square-foot cannabis greenhouse recently underwent a complete retrofit for hydroponic automation and the addition of 500 Gavita high-pressure-sodium grow lights.

Full-scale production is estimated at about 12,000 pounds of high-quality cannabis annually, according to Crop.

"Crop is utterly dedicated to providing the cleanest and most natural cannabis for the end user," CEO Michael Yorke said in a statement.

Separately, Crop said it settled C$883,500 in debt by issuing shares in the company at C$0.30 per unit. Each unit has a common share and a common share purchase warrant that can be exercised at C$0.50 within 18 months of issuance.

Shares of Crop climbed C$0.01 to C$0.32 in Monday’s Canadian trading and slipped US$0.01 to US$0.24 on the OTC market.


Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Tue, 27 Nov 2018 08:16:00 -0500 https://www.proactiveinvestors.com/companies/news/210041/crop-infrastructure-says-cannabis-farm-in-washington-state-enters-sales-phase-210041.html
<![CDATA[News - Crop Infrastructure thanks 3 US states for legalizing marijuana ]]> https://www.proactiveinvestors.com/companies/news/208866/crop-infrastructure-thanks-3-us-states-for-legalizing-marijuana-208866.html Cannabis supplier Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) thanked Utah, Michigan and Missouri on Thursday for voting to legalize marijuana in the midterm US elections.

Michigan became the 10th state to approve recreational use of marijuana while Missouri and Utah voted in favor allowing its medical use. North Dakota rejected allowing recreational pot, and marijuana remains illegal at the federal level.

"With more and more states legalizing medical and recreational cannabis, Crop is positioned to substantially expand operations and work with new local partners that require funding and operational expertise,” CEO Michael Yorke said in a statement.

READ: Crop Infrastructure tenant in Nevada completes harvest of cannabidiol hemp

Yorke added that Tuesday’s ballot initiatives increase the likelihood of cannabis becoming legal in the United States. Challenges on the federal level remain, however.

Last June, a vote by the Senate Appropriations Committee blocked legislation that would have allowed U.S. banks to work with cannabis companies.

“Momentum is gaining for change in Congress to allow states to determine their own marijuana policies,” Morgan Fox, media relations director at the National Cannabis Industry Association, said in a statement. “Two-thirds of the country want marijuana to be legal, and politicians are ignoring that at their peril.”

Shares of Crop slipped $0.01 to $0.38 in Thursday’s trading on the Canadian Securities Exchange.

 

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com

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Thu, 08 Nov 2018 12:17:00 -0500 https://www.proactiveinvestors.com/companies/news/208866/crop-infrastructure-thanks-3-us-states-for-legalizing-marijuana-208866.html
<![CDATA[News - Crop Infrastructure looking to control supply chain in California ]]> https://www.proactiveinvestors.com/companies/news/208756/crop-infrastructure-looking-to-control-supply-chain-in-california-208756.html Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) said Wednesday it is working to have complete control of its California supply chain.

The Vancouver-based company said in a press release processing continues at its farm in Humboldt County, California, and new automation equipment has arrived to increase efficiencies and continually increase return on investment.

Crop added that its Emerald Heights retail brand just completed the stage three interview process with the city of San Bernardino – a major hurdle before the final licensing review to open its first Californiaretail brand location.

READ: Crop Infrastructure tenant in Nevada completes harvest of cannabidiol hemp

The company is also going through the process of opening two Emerald Heights locations in Italy and one in Nevada.

“The significance of fully vertically integrating cannot be understated, and we are working towards that end as rapidly as is practicable,” Crop CEO Michael Yorke said in a statement.

Crop said a tenant is accepting and reviewing bids from distributors to handle production under the Hempire, Evolution and White Rhino brands. The tenant has applied for its own distribution license to represent its own production and the production of other producers.

Tenants are preparing an extraction license application for the Humboldt farm to maximize ROI and broaden the range of SKUs (stock keeping units) available to retail locations.

Plans submitted to boost output

Crop added that it has submitted plans to the Humboldt County, California, building and planning department to increase production of the California facility at a cost of $1 million. Of that amount, $250,000 has already been spent, according to the company.

The boost in output is projected by the company to result in an additional 12,000 pounds of high-quality cannabis and 3,000 pounds of secondary material per year.

The company's portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, participation in West Hollywood and San Bernardino dispensaries and an international focus in Jamaica as well as Italy.

“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," Yorke said.

Crop’s shares edged up $0.01 to $0.39 in Canadian Securities Exchange trading on Wednesday.

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Wed, 07 Nov 2018 10:33:00 -0500 https://www.proactiveinvestors.com/companies/news/208756/crop-infrastructure-looking-to-control-supply-chain-in-california-208756.html
<![CDATA[News - Crop Infrastructure shares blooming again as it hires group for Nevada farm build-out ]]> https://www.proactiveinvestors.com/companies/news/208344/crop-infrastructure-shares-blooming-again-as-it-hires-group-for-nevada-farm-build-out-208344.html It's a busy week for Crop Infrastructure Corp  (CSE:CROP, OTCMKTS:CRXPF) and shares were up again Thursday as the cannabis sector investor revealed it had hired a firm to build its Nevada facility.

An extraction tech group will build a one-ton-per-day extraction facility at its Nevada CBD farm, the group said.

Major supply deal 

On October 23 this year, Crop inked its first major supply deal for its Hempire tenant in Nevada with a  commercial extraction technology company. Namely, a three-year, 500,000-pound-per-year (1.5 million pounds in total) deal with deliveries starting August next year.

That same company will be developing, and providing, extraction equipment for the CROP Nevada extraction facility,  Crop said today.

The initial $3.2 million, equivalent to around 89,000 pounds of product, will be allocated towards paying for 60% of the facility.

The balance of around $2 million, due in cash over the next eight months will be financed by revenue from the company's operations.

The CBD flower off-take is to be delivered in shipments of 50,000 dry pounds on a bi-monthly basis with payment to be made plus the cost of delivery of $36.00 per pound to $57.00 per pound.

Harvesting 240 acres

CROP is currently harvesting its 240 acres planted this year, which will be processed for isolate and is also readying its 1,865-acre CBD farm for 2019 planting.

"The synergies and relationship between CROP and our off-take partner continue to evolve," said CROP CEO Michael Yorke.

"We look forward to continuing to develop this new partnership into new opportunities and other territories. We believe this is an effective and creative way of financing and developing our growth in a non-dilutive arrangement."

Cannabis industry analysts The Brightfield Group, estimate the hemp-CBD market alone could reach $22 billion by 2022.

Yesterday, Crop Infrastructure shares surged 25% as said it had signed former Coca-Cola branding executive Arashdeep Singh to head up its CannaDrink beverage business.

Singh has nearly 10 years' experience with drinks behemoth The Coca-Cola Company (NYSE:KO).

His last position was a senior brand manager for a $750 million portfolio of Coca Cola products.

Crop Infrastructure shares are up over 22% on Thursday at $0.41 each.

Reporting by Giles Gwinnett

giles@proactiveinvestors.com

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Thu, 01 Nov 2018 10:45:00 -0400 https://www.proactiveinvestors.com/companies/news/208344/crop-infrastructure-shares-blooming-again-as-it-hires-group-for-nevada-farm-build-out-208344.html
<![CDATA[News - Crop Infrastructure shares fizz much higher as it lands former Coca-Cola branding executive to head up CannaDrink line ]]> https://www.proactiveinvestors.com/companies/news/208266/crop-infrastructure-shares-fizz-much-higher-as-it-lands-former-coca-cola-branding-executive-to-head-up-cannadrink-line-208266.html Crop Infrastructure Corp  (CSE:CROP, OTCMKTS:CRXPF) shares fizzed much higher in Toronto as its CannaDrink beverage line was  boosted.

The cannabis focused firm said it had signed former Coca-Cola branding executive Arashdeep Singh to head up the business.

Singh has nearly 10 years' experience with The Coca-Cola Company (NYSE:KO).

His last position was a senior brand manager for a $750 million portfolio of Coca Cola products.

"Someone of Arash's calibre joining us is a big boost for our management team," said chief executive at CROP, Michael Yorke.

"As a growing organization our executive branch often wears many hats so having a specialist like Arash to head up this important pillar of Crop's growth is exciting for myself and the entire Crop family."

Yorke added: "For years, the benefits of cannabidiol have languished under a false stigma.

"With a welcome expansion of legalization, CannaDrink is committed to bring these products to the new age consumers. I am truly excited to be a part of this evolutionary journey."

Among the many highlights on Mr Singh's CV are that he helped launch Coca-Cola Zero in the markets of Bhutan & Sri Lanka to develop the 'Diets & Lights' category.

He also recruited new consumers by inducing more trials for the brand using experiential sampling and standardised the drinks giant's e-commerce presence with new layouts from a commissioned research to drive click-through rates.

Crop's portfolio of projects includes cultivation properties in California, two in Washington State and a 1,000-acre Nevada cannabis farm.

It also has 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.

Earlier this month, the group inked its first major supply deal.

That is for the group's Hempire tenant in Nevada, and is a three-year, 500,000-pound-per-year (1.5 million pounds in total) supply agreement with deliveries starting August next year.

On Wednesday, shares in Crop Infrastructure shot up 25% to $0.325.

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Wed, 31 Oct 2018 12:25:00 -0400 https://www.proactiveinvestors.com/companies/news/208266/crop-infrastructure-shares-fizz-much-higher-as-it-lands-former-coca-cola-branding-executive-to-head-up-cannadrink-line-208266.html
<![CDATA[News - CROP Infrastructure begins this year's harvest at CBD farm in Nevada as it eyes exciting 2019 ]]> https://www.proactiveinvestors.com/companies/news/207403/crop-infrastructure-begins-this-year-s-harvest-at-cbd-farm-in-nevada-as-it-eyes-exciting-2019-207403.html Crop Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF)  told investors it had begun its fall pot harvest at its CBD farm in Nevada, USA.

All equipment required for this year's harvest has now arrived at the 1,865-acre Nevada hemp-cannabidiol farm for the 240 acres planted this summer. When the crop is harvested and dried, the company will begin delivering dried product to its processing partner, an ISO compliant processor.

READ: CROP Infrastructure eyeing first revenue as California tenant completes harvest

Expected then are bi-weekly shipments of CBD isolate back to the company. The isolate will be sold under a white label as well as the company's brands Hempire and Tiffany CBD.

"We are excited to be working with an ISO compliant processor to produce isolate while we work towards building our own in-house extraction capabilities," said CROP Infrastructure director and CEO, Michael Yorke.

"Having a full year of tenant production next year on the total acreage along with the strong uptrend in the CBD market should position the company, its tenants and its brands for a very exciting 2019."

Crop said it was now accepting offers from interested hemp-CBD flower off-takers for next year's harvest as all this year's production will be used for CBD isolate.

The two existing strains planted during the 2018 season with up to 19% CBD will be planted for 2019 along with three additional genetics with similar CBD concentrations, it added.

The farm will be planted and maintained to organic standards to ensure the hemp-CBD is to the specification of interested buyers.

Crop has had a busy year. Its portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada Cannabis farm and a 1,865 acre CBD farm.

It has an international focus in Jamaica and Italy and a joint venture on West Hollywood and San Bernardino dispensary applications.

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Thu, 18 Oct 2018 10:14:00 -0400 https://www.proactiveinvestors.com/companies/news/207403/crop-infrastructure-begins-this-year-s-harvest-at-cbd-farm-in-nevada-as-it-eyes-exciting-2019-207403.html
<![CDATA[News - CROP Infrastructure eyeing first revenue as California tenant completes harvest ]]> https://www.proactiveinvestors.com/companies/news/206914/crop-infrastructure-eyeing-first-revenue-as-california-tenant-completes-harvest-206914.html CROP Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) says it's just steps away from first revenue as its California tenant "Hempire" in Humboldt has now finished harvesting all of its 30,000 square feet (sq ft) production area.

The greenhouses have now been re-populated and the plants are already in flower for a further Q4 harvest, the pot-focused company said.

The crop tally stands at around 2,100 pounds, which consists of around 300 pounds of dried flower, around 1,100 pounds, which is currently drying, and a further 700 pounds of lower tier production for extracts.

Steps away

"CROP is now only steps away from first revenue as the tenant's sales cycle has been initiated. Of particular significance too, we can also report that the tenant's temporary cannabis licenses have now been converted to a permanent California state license," said CEO Michael Yorke.

"CROP looks forward to having its California operations rapidly becoming profitable."

The cannabis will now be trimmed and packaged for various distributors the tenant is contracting with, the company added.

Crop strains are 707 OG, Forbidden Fruit, Green Crack, Birthday Cake, and Girl Scout Cookie. In addition, the tenant has added a new sought-after strain called Insane OG.

CROP also noted that it was waiting for permits to build out 12 proprietary light supplemented greenhouses totaling 44,000 square feet.

Last week, CROP updated on activity in Italy, saying it had expanded its footprint in the country and has now leased an 87,120 sq ft greenhouse via its joint venture with XHemplar.

Italian joint venture

In June this year, Crop unveiled the new Italian joint venture. It owns 30% of the venture under the name of Xhemplar and is developing a 522,000 sq ft project in the north-eastern region of Italy.

CROP provided an initial investment of €500,000.

XHemplar is a joint venture between CROP Infrastructure, Alto Holdings Ltd, Quantum Flux and the AnCaPa SRL of the prominent Castiglione family.

The resulting cannabis will be processed and sold into international CBD (cannabidiol) markets under the white label, the venture's house name XHEMPLAR and CROP brands TIFFANY CBD and HEMPIRE ITALIA.

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Thu, 11 Oct 2018 09:55:00 -0400 https://www.proactiveinvestors.com/companies/news/206914/crop-infrastructure-eyeing-first-revenue-as-california-tenant-completes-harvest-206914.html
<![CDATA[News - CROP Infrastructure’s hemp farm strikes toll processing deal to produce CBD isolate as it readies for harvest ]]> https://www.proactiveinvestors.com/companies/news/206828/crop-infrastructures-hemp-farm-strikes-toll-processing-deal-to-produce-cbd-isolate-as-it-readies-for-harvest-206828.html Marijuana industry investor Crop Infrastructure Corp (CSE:CROP; OTCMKTS:CRXPF) signed a toll processing deal Wednesday to provide its dried hemp-CBD biomass to a processor who will then provide 50% of the finished product as ISO certified CBD isolate, which is pure cannabidiol to CROP’s tenanted farm.

The CBD isolate will be sold under the company’s brands Hempire, Tiff CBD, and infused in its new line of cannabis-infused drinks called 'CannaDrink'.

CROP will also be working with the toll processor to develop its own ISO extraction facility for its production which has expanded to over 1,800 acres.

Crop said its tenant, at its Nye county hemp CBD farm in Nevada, was getting ready for the imminent harvest.

"Being in a position to have CBD isolate from the 2018 harvest will enable the company to begin infusing products like the CannaDrink beverage line and begin developing relationships with bulk buyers in preparation for 2019,” said Crop Infrastructure CEO Michael Yorke.

BIG PICTURE: CROP Infrastructure looks to capitalize on the “green rush” 

“Even with a toll cost, upgrading CBD biomass to isolate should significantly increase the value of our tenant harvest. This new strategic alliance opens up additional mutually beneficial opportunities, specifically those in developing our own extraction facilities, both in the US and Europe, which will be necessary to maximize the potential of our portfolio's ongoing hemp CBD and cannabis THC production," added Yorke.

Due to its non-psychoactive healing properties, cannabidiol (CBD) has become a very popular option for patients seeking a natural alternative to treat conditions such as chronic pain, anxiety, and epilepsy.

According to cannabis industry analysts, the Brightfield Group, the hemp CBD market alone could hit US$22 billion by 2022.

CROP has six farms in three countries, 16 brands, four farms harvesting or near harvest, two under construction, two dispensary apps, and 55 topicals licenced. The infrastructure company's projects include cultivation properties in California, Washington State, Nevada, Italy, Jamaica, and a joint venture on West Hollywood and San Bernardino dispensary applications.

Contact Uttara Choudhury at uttara@proactiveinvestors.com

Follow her on Twitter: @UttaraProactive 

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Wed, 10 Oct 2018 15:12:00 -0400 https://www.proactiveinvestors.com/companies/news/206828/crop-infrastructures-hemp-farm-strikes-toll-processing-deal-to-produce-cbd-isolate-as-it-readies-for-harvest-206828.html
<![CDATA[News - CROP Infrastructure expands footprint further in Europe, leasing 87,120 sq ft greenhouse in Italy ]]> https://www.proactiveinvestors.com/companies/news/206107/crop-infrastructure-expands-footprint-further-in-europe-leasing-87120-sq-ft-greenhouse-in-italy-206107.html CROP Infrastructure Corp. (CNSX:CROP) updated on its activity in Italy, saying it had expanded its footprint in the country and has now leased an 87,120 sq ft greenhouse via its joint venture with XHemplar.

In June this year, Crop unveiled the new Italian joint venture. It owns 30% of the venture under the name of Xhemplar and is developing a 522,000 sq ft project in the north-eastern region of Italy. CROP provided an initial investment of €500,000.

XHemplar is a joint venture between CROP Infrastructure, Alto Holdings Ltd, Quantum Flux and the AnCaPa SRL of the prominent Castiglione family. The resulting cannabis will be processed and sold into international CBD (cannabidiol) markets under the white label, the venture's house name XHEMPLAR and CROP brands TIFFANY CBD and HEMPIRE ITALIA.

READ: Crop Infrastructure set to buy another cannabis project in Nevada via joint venture

"This is a major increase in our European footprint," said Michael Yorke, on today's news.

"Not only will this expand our growing capacity and quality control, but, very importantly, the buildout of an extraction facility will allow Crop to provide European markets with quality CBD isolate."

Yorke said this would allow for low-cost and "high-quality pure CBD isolate and CBD products" to be sold domestically as well as into the European CBD market.

"The joint venture's CBD products will be branded under the XHemplar and Crop brands Tiffany CBD and Hempire Italia."

In August, Crop also told investors it would open two CBD (cannabidiol) retail outlets in northern Italy under its Emerald Heights brand before the end of 2018.

The first line of hemp-oil-infused cosmetic and therapeutic products will be launched under the brand name Urban Juve.

In June this year, CROP announced the C$1mln acquisition of US distribution and Italian rights for 50 cannabis wellness products from The Yield Growth Corp.

The agreement granted CROP the licence to infuse Yield Growth subsidiary Juve Wellness Inc’s products with high CBD / low THC cannabis and exclusively distribute the products initially for three years, with annual renewals on achieving certain sales.

The deal gives CROP exclusive rights in Italy to the URBAN JUVE products, as well as non-exclusive distribution rights in the United States.

According to cannabis industry analysts the Brightfield Group, it is estimated the hemp-CBD market alone could hit $22billion by 2022.

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Mon, 01 Oct 2018 09:14:00 -0400 https://www.proactiveinvestors.com/companies/news/206107/crop-infrastructure-expands-footprint-further-in-europe-leasing-87120-sq-ft-greenhouse-in-italy-206107.html
<![CDATA[News - CROP Infrastructure shares surge as it expands Nevada CBD farm ]]> https://www.proactiveinvestors.com/companies/news/205566/crop-infrastructure-shares-surge-as-it-expands-nevada-cbd-farm-205566.html Shares in cannabis-focused Crop Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) advanced Monday as it inked a deal for more acreage in Nevada, expanding its asset there.

The company told investors it had inked a three-year lease agreement for 800 additional acres of pivot-irrigated agricultural property, which will cost $550 per acre in 2019 and $700 per acre 2020 forward, paid quarterly beginning in March next year.

READ: CROP Infrastructure's "The Dozen" greenhouse in Washington nearing finish line after permit

The site is close to Crop's existing 1,065-acre hemp cannabidiol farm in Nye county - also in Nevada.

"Crop is preparing for the upcoming Hemp Farming Act of 2018 which would remove hemp's controlled substance designation, thus legalizing the Crop under federal law, and allowing CBD isolate to be sold across all 50 states and exported internationally," said Crop's chief executive Michael Yorke.

"As we enter the next phase of project development in Nevada we look forward to building our GMP extraction facility and introducing our made-in-America CBD Isolate to infuse into our recently announced CannaDrink beverages and licensed topical lines.

"Crop has the largest real estate footprint in Nevada dedicated to hemp CBD."

He added:  "Once the additional upgrades are completed, we anticipate that our tenant and brand licensee will have 1,340 acres under irrigation.

Potential harvest

"With two crops expected annually in 2019, we foresee a harvest potential of approximately 2,680,000 lb of CBD flower. We expect to comfortably use funds from our 2018 harvest (next 30 to 60 days) to organically grow into the projects new footprint."

The company said its combined Nevada properties, including the original one of 315 acres, have a total pivoted area of 1,340 acres but will require the installation of additional pivots and water wheels at a cost of $300,000.

Seasonal fertiliser, planting and seed costs are not expected to exceed $600,000.  All harvesting and commercial drying equipment have been paid for during the 2018 season.

According to cannabis industry analysts at the Brightfield Group, it is estimated the hemp CBD market alone could hit $22B by 2022.

Crop Infrastructure shares surged over 8% in Toronto to C$0.63.

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Mon, 24 Sep 2018 12:25:00 -0400 https://www.proactiveinvestors.com/companies/news/205566/crop-infrastructure-shares-surge-as-it-expands-nevada-cbd-farm-205566.html
<![CDATA[News - CROP Infrastructure posts more positive test results from California harvest ]]> https://www.proactiveinvestors.com/companies/news/205452/crop-infrastructure-posts-more-positive-test-results-from-california-harvest-205452.html CROP Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) revealed more positive test results for the first crop of its Californian tenant.

Earlier this month the group said the first sample of dried BOSS OG Cannabis flower was submitted to Humboldt Quality Assurance lab in August and it passed all tests for microbial impurities and had no detectable pesticides.

Today, it said the first sample of dried 707 OG cannabis flower was submitted to the same lab on September 14, 2018.

This sample received a tetrahydrocannabolic acid result of 23.9% and passed all tests for microbial impurities and detectable pesticides, said Crop.

"Following our Crop SAFE method and SOP's, Crop is pleased to announce that our tenant has achieved a concentration of 23.9 per cent THCa," said Crop Infrastructure director and chief executive Michael Yorke.

"Twenty-three point nine per cent THCA commands a higher market value and is considered premium quality."

Crop shares nudged 2.20% higher in Toronto on Friday, to stand at C$0.465.

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Fri, 21 Sep 2018 09:50:00 -0400 https://www.proactiveinvestors.com/companies/news/205452/crop-infrastructure-posts-more-positive-test-results-from-california-harvest-205452.html
<![CDATA[News - CROP Infrastructure's "The Dozen" greenhouse in Washington nearing finish line after permit ]]> https://www.proactiveinvestors.com/companies/news/205140/crop-infrastructure-s-the-dozen-greenhouse-in-washington-nearing-finish-line-after-permit-205140.html Cannabis-focused CROP Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) unveiled a milestone for its 'The Dozen' grrenhouse project in Washington - a permit meaning it can complete construction.

The company has now received an updated building permit, after it revised its plans to include upgraded access roads and a new staff facility, including restroom and break-room.

"The company has completed 90% of the construction of the first six (6) purpose-built proprietary greenhouses and will now complete the final construction for site approval," it said in a regulatory release on Tuesday.

READ THE BIG PICTURE: CROP Infrastructure looks to capitalize on the “green rush”

“Once the project is completed this will serve as our CROP SAFE production model for all our future builds across the globe," added Crop's director and chief executive Michael Yorke.

"We intend to have strict replication of our growing procedures to get the best return from every square foot of growing space and the lowest cost possible for our tenants."

The first phase of the build entailed site preparation and foundations for  12 purpose-built indoor  canopies encompassing a planned total area of around 44,000 square feet (sq ft).

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

The site currently allows for around 176,000 sq ft of canopy space.

There will be 12 indoor growing facilities with a regional electricity rate of US$0.02/kWh and based on internal calculations provided by CROP’s expert consulting partner, should result in tenants having a cost of production of less than US$150 per pound.

READ: CROP Infrastructure Corp says California crop passes lab tests

CROP’s primary focus is investing, constructing, owning and leasing greenhouse projects.

It provides financing for land expansion, brand positioning opportunities, specialized equipment and access to approved nutrients for licensed cannabis producers in legal growing regions.

In layman’s terms, CROP is structured in a similar way to a Real Estate Investment Trust (REIT) -  basically a company that owns, operates or finances income-producing real estate.

Its projects include cultivation properties in California, Washington State, Nevada, Italy, Jamaica, and a joint venture on West Hollywood and San Bernardino dispensary applications.

Crop Infrastructure shares surged nearly 10% to C$0.39.

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Tue, 18 Sep 2018 09:00:00 -0400 https://www.proactiveinvestors.com/companies/news/205140/crop-infrastructure-s-the-dozen-greenhouse-in-washington-nearing-finish-line-after-permit-205140.html
<![CDATA[News - CROP Infrastructure Corp says California crop passes lab tests ]]> https://www.proactiveinvestors.com/companies/news/204962/crop-infrastructure-corp-says-california-crop-passes-lab-tests-204962.html Pot-focused firm and greenhouse lessor CROP Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) said its Californian tenant had received lab results on its first crop - and it passed all tests for microbial impurities and had no detectable pesticides.

The first sample of dried BOSS OG Cannabis flower was submitted to Humboldt Quality Assurance lab for analysis on August 27 this year.

The third greenhouse crop has now been harvested and is drying. The company is also awaiting construction permits to build out 12 propriety light supplemented greenhouses totalling 44,000 sq ft.

"CROP's tenant has strictly adhered to the CROP SAFE gold standard for organic cannabis cultivation practices," said Michael Yorke, the firm's director and chief executive.

"CROP SAFE utilises only natural ingredients for its fertilisers and pest control. Once CROP completes its greenhouse complex we can anticipate considerably increased production from this tenanted facility."

Emerald Triangle

Last month, Crop said it had increased its ownership to 49% from 30% at its "Emerald Triangle" cannabis production facility, which is tenanted by "Hempire" in Humboldt California,  and where harvesting had begun at the first of five 2,000 sq ft greenhouses.

Yesterday, Crop shares fizzed higher as it revealed a move into the potentially exciting world of cannabis-infused drinks.

The company revealed that it was developing a new cannabis-infused line of soft drinks, which will offer a new kind of nutritional content.

The soda will be named 'CANNADRINK' and will be a zero calorie, non-GMO, ketogenic-friendly line. It will include a tea and coffee version.

Crop highlighted that the global carbonated soft drinks market is projected to reach US$ 605.6bn by 2025, according to a report in March this year by Grand View Research Inc.

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Fri, 14 Sep 2018 11:22:00 -0400 https://www.proactiveinvestors.com/companies/news/204962/crop-infrastructure-corp-says-california-crop-passes-lab-tests-204962.html
<![CDATA[News - CROP Infrastructure shares fizz higher as it reveals it's developing new cannabis-infused soda ]]> https://www.proactiveinvestors.com/companies/news/204844/crop-infrastructure-shares-fizz-higher-as-it-reveals-it-s-developing-new-cannabis-infused-soda-204844.html Shares in greenhouse lessor and pot industry investor CROP Infrastructure Corp (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) fizzed much higher Thursday as it moved into the potentially exciting world of cannabis-infused drinks.

The company revealed that it was  developing a new cannabis-infused line of soft drinks, which will offer a new kind of nutritional content.

READ: CROP Infrastructure closes Nye County farm purchase; harvest expected within 45 days

The soda will be named 'CANNADRINK' and will be a zero calorie, non-GMO, ketogenic-friendly line, the  firm said.

The drink  will include a tea and coffee version.

"The cannabis-infused beverages market has attracted the attention of world class beverage companies as legalization spreads," said CROP Infrastructure director and chief executive  Michael Yorke.

"We see it as a tremendous opportunity for CROP Infrastructure's branding & IP portfolio and as an axillary opportunity for each of our cultivation tenants globally."

Crop highlighted that the global carbonated soft drinks market is projected to reach US$ 605.6bn by 2025, according to a report in March this year by Grand View Research Inc.

READ: CROP Infrastructure announces dispensary application moves forward; Hempire's harvest "looks phenomenal"

Yorke added: "The global soft drink market, in another study, is forecast to grow at a CAGR of 5.62% through to 2021.

"It is also going sugar free.

"Studies from the World Health Organization have shown that a simple can of carbonated soda drink can contain over 40 grams of sugar,  equivalent to 10 teaspoons of table sugar.

"As an example, Britain's sugar tax has forced many soft drinks companies to re-evaluate the sugar content of their soft drinks and are developing new low or reduced-sugar beverages with additional claimed health benefits, in response to consumer demand.

"Functional beverages are a new class of products that offer beyond basic nutritional ingredients including vitamins, minerals, herbs, amino acids and probiotics.

"We believe that cannabis's medically known benefits will enhance our own formulations, so we are bang on target with our CANNA DRINK line," concluded Yorke.

Crop Infrastructure shares shot up 56% in Toronto to C$0.39.

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Thu, 13 Sep 2018 08:39:00 -0400 https://www.proactiveinvestors.com/companies/news/204844/crop-infrastructure-shares-fizz-higher-as-it-reveals-it-s-developing-new-cannabis-infused-soda-204844.html
<![CDATA[News - CROP Infrastructure closes Nye County farm purchase; harvest expected within 45 days ]]> https://www.proactiveinvestors.com/companies/news/204449/crop-infrastructure-closes-nye-county-farm-purchase-harvest-expected-within-45-days-204449.html CROP Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) revealed that it had completed its acquisition of a 49% interest in Nye County farm in central Nevada.

The site has a temperate climate and totals over 315 acres, including 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertiliser injection systems installed.

READ: CROP Infrastructure announces dispensary application moves forward; Hempire's harvest "looks phenomenal"

"We are pleased to have completed this acquisition and see our operations coming in under budget for this first harvest," said Crop director and chief executive Michael Yorke.

"This further demonstrates that our tenant and brand licensee was the correct choice for our Nevada farm. The next phase of development will be a state-of-the-art extraction facility to make high-value CBD isolate."

The company will pay US$1.35mln in cash and has already loaned US$1,697,148 for property and equipment expenses, with no more than US$200,000 in additional expenses expected for this first harvest.

READ: CROP Infrastructure set to open two CBD retail outlets in Italy

The previously announced 240 acres of CBD hemp has been planted and is currently 2.5 to 3ft tall and growing under pivot with the resulting harvest expected within 45 days.

CROP added that a recent plant count suggested 3,000 healthy plants per acre or 720,000 plants under pivot.

All harvesting equipment has been secured for the resulting hemp biomass. The cost of production was not expected to exceed C$700,000, with $350,000 incurred to date, and no more than C$200,000 in additional costs expected to prepare our tenant for this harvest.

It's been a busy news week for CROP. Yesterday, it said it had received confirmation that its San Bernardino dispensary application has advanced to stage three of four of the application review process.

The company also announced its 49% Emerald Triangle cannabis production facility, which is tenanted by Hempire in Humboldt California, continues its harvest with an additional two greenhouses now drying and awaiting test results to begin selling.

Shares eased 4% to C$0.24.

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Fri, 07 Sep 2018 09:37:00 -0400 https://www.proactiveinvestors.com/companies/news/204449/crop-infrastructure-closes-nye-county-farm-purchase-harvest-expected-within-45-days-204449.html
<![CDATA[News - CROP Infrastructure announces dispensary application moves forward; Hempire's harvest "looks phenomenal" ]]> https://www.proactiveinvestors.com/companies/news/204373/crop-infrastructure-announces-dispensary-application-moves-forward-hempire-s-harvest-looks-phenomenal--204373.html CROP Infrastructure Corp. (CSE:CROP, CSE:CROP.CN, OTCMKTS:CRXPF) released encouraging news Thursday announcing it has received confirmation that its San Bernardino dispensary application has advanced to stage three of four of the application review process.

The company also announced its 49% Emerald Triangle cannabis production facility, which is tenanted by Hempire in Humboldt California, continues its harvest with an additional two greenhouses now drying and awaiting test results to begin selling.

READ: CROP Infrastructure set to open two CBD retail outlets in Italy

"Crop's tenant, Hempire's harvest looks phenomenal and we look forward to receiving the first brand licencing and lease payments from Hempire in September," said CROP Infrastructure director and chief executive officer, Michael Yorke.

"The Emerald Heights dispensary application is exciting as vertically integrating tenants will provide for the largest returns both from a brand licencing perspective and return on investment from CROP's real estate portfolio."

This 30,000 sq/ft production facility sits on 8.46 acres and consists of a 10,000 sq/ft medicinal cannabis greenhouse facility and an additional 20,000 sq/ft of recreational licensed canopy.

The company said Hempire has secured 800 additional ready-to-flower plants for a late season harvest with a unique genetic currently in high demand.

Shares of CROP were down 5.9% at C$0.24.

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Thu, 06 Sep 2018 13:13:00 -0400 https://www.proactiveinvestors.com/companies/news/204373/crop-infrastructure-announces-dispensary-application-moves-forward-hempire-s-harvest-looks-phenomenal--204373.html
<![CDATA[News - CROP Infrastructure set to open two CBD retail outlets in Italy ]]> https://www.proactiveinvestors.com/companies/news/203899/crop-infrastructure-set-to-open-two-cbd-retail-outlets-in-italy-203899.html CROP Infrastructure Corp (CNSX:CROP) says it's set to open two CBD (cannabidiol) retail outlets in northern Italy under its Emerald Heights brand before the end of 2018.

It will launch its first line of hemp-oil-infused cosmetic and therapeutic products under the brand name Urban Juve.

In June this year, CROP announced the C$1mln acquisition of US distribution and Italian rights for 50 cannabis wellness products from The Yield Growth Corp.

The agreement granted CROP the licence to infuse Yield Growth subsidiary Juve Wellness Inc’s products with high CBD / low THC cannabis and exclusively distribute the products initially for three years, with annual renewals on achieving certain sales.

Exclusive rights

The deal gives CROP exclusive rights in Italy to the URBAN JUVE products, as well as non-exclusive distribution rights in the United States.

The same month this year, the firm announced a new joint venture deal in Italy, in which CROP owns 30% of the venture under the name of Xhemplar.

It is in partnership with the team from Xhemplar that it is now scouting for locations to open the two 2 CBD retail outlets in Northern Italy.

"We are excited to be partnered with CROP for the European launch of the URBAN JUVE hemp oil infused product line," said Penny Green,  the president and chief executive of Yield Growth.

"CROP is a demonstrated leader in the international hemp market with affiliations to hemp production in Nevada, California, Washington, Italy and Jamaica."

Meanwhile, CROP Infrastructure's director and chief executive Michael Yorke added: "We are pleased with the URBAN JUVE branding initiative by Yield Growth and feel it will resonate with health and lifestyle consumers. We look forward to offering the URBAN JUVE products in Italy."

According to a study by Arcview Market Research and research partner BDS Analytics, worldwide sales of legal cannabis are forecast to reach US$57bn by 2027.

Growth markets

"During that period, spending in North America is expected to leap from $9.2bln to $47.3bln driven mainly by recreational use.

"The fastest cannabis market growth is expected to come from outside North America, especially Europe where the main growth driver will be medical applications," said CROP.

"Medical cannabis use will be fed by US$1.3tln estimated annual government-subsidised healthcare spending. The structure of the healthcare industry is expected to make Europe the number one medical cannabis market in the world."

CROP Infrastructuire shares advanced 7.41% to stand at C$0.29 in Toronto.

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Thu, 30 Aug 2018 09:15:00 -0400 https://www.proactiveinvestors.com/companies/news/203899/crop-infrastructure-set-to-open-two-cbd-retail-outlets-in-italy-203899.html
<![CDATA[Media files - CryptoCann™ Report: Deloitte survey predicts increase in blockchain investments; WeedMD reports high revenue growth in first half ]]> https://www.proactiveinvestors.com/companies/stocktube/10262/cryptocann-report-deloitte-survey-predicts-increase-in-blockchain-investments-weedmd-reports-high-revenue-growth-in-first-half-10262.html Tue, 28 Aug 2018 15:22:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/10262/cryptocann-report-deloitte-survey-predicts-increase-in-blockchain-investments-weedmd-reports-high-revenue-growth-in-first-half-10262.html <![CDATA[News - CROP Infrastructure shares fire up as Washington state facility starts commercial production ]]> https://www.proactiveinvestors.com/companies/news/203712/crop-infrastructure-shares-fire-up-as-washington-state-facility-starts-commercial-production-203712.html CROP Infrastructure (CNSX:CROP) just keeps on rolling and has now announced that its tenant at the Wheeler Park facility in Washington state had now kicked off commercial production, sending shares higher.

The facility is designed for the perpetual harvest of cannabis at 'The Park'.

"Crop's licenced tenant grower has now advised the company that it expects its first harvest of cannabis within weeks and it will be at full-scale production in September 2018," Crop said in a regulatory statement today.

READ: CROP Infrastructure shares fire up as Washington state facility starts commercial production

"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,"  said chief executive Michael Yorke.

"The company expects four of its six tenant licensees to harvest at its farms, with each set to begin cash flowing in Q4 2018."

The perpetual harvest system at Wheeler uses cannabis strains with a 55-60 day flower cycle, the company said.

The Park cannabis greenhouse is 35,000 sq ft and sits on around nine acres of land.  The facility recently underwent a complete retrofit for hydroponic automation and the addition of 500 Gavita HPS grow lights.

The facility has five flowering bays that are designed to yield, at full-scale production, around 12,000 pounds of high-quality cannabis annually ( around 1,000 pounds per month). The current operating cost is US$50,000 per month.

Shares in Toronto added over 11% to C$0.29.

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Tue, 28 Aug 2018 09:33:00 -0400 https://www.proactiveinvestors.com/companies/news/203712/crop-infrastructure-shares-fire-up-as-washington-state-facility-starts-commercial-production-203712.html
<![CDATA[News - CROP Infrastructure welcomes authority on Jamaican cannabis industry as advisor ]]> https://www.proactiveinvestors.com/companies/news/203501/crop-infrastructure-welcomes-authority-on-jamaican-cannabis-industry-as-advisor-203501.html CROP Infrastructure (CNSX:CROP) told investors it had hired the former CEO of the Jamaica cannabis licensing authority as a new member of its executive advisory board as it develops the business in the Caribbean island.

Greg Douglas formally entered the cannabis space in 2015 when he joined the Bureau of Standards Jamaica as its management information systems (MIS) manager.

"Ganja man"

He is now known internally at the Bureau as the "ganja man" and externally by stakeholders as the "Bureau man", noted Crop.

In 2017, he was seconded to the Cannabis Licensing Authority (CLA) as its chief executive. While there he became a part of history, issuing the first commercial licences, the company added.

"Greg has the invaluable ability to effectively interact with stakeholders from both the private and public sectors and his knowledge of the industry, both in the Caribbean and North America, is truly extensive and that will be of great benefit to Crop as it expands even further internationally," said Crop's chief executive Michael Yorke.

In July this year, the firm struck a joint venture deal in Jamaica, with a 49% interest in a zero-cost lease of a 217,000 sq ft property (five acres), ideally positioned for future Cannabis production and extraction.

The land was secured in the Westmoreland Parish, some of the most fertile land in Jamaica, it said.

Broad variety

"Many countries are now introducing new licensing and legislative regimes for CBD and cannabis and are prime entry points for our growing organisation," said Yorke last month.

"Jamaica is of particular interest as its licensing regime allows for a full suite of genetics which will give our tenant growers the advantage of being able to provide buyers with a broad variety of CBD and THC end products."

Jamaica has over 2.8mln residents and around 3mln visitors each year. In a report from the Jamaica Observer, Edmund Bartlett, the current Jamaican minister of tourism, estimated the global marijuana tourism market stood at US$494bn.

CROP is now trying to identify a suitable tenant licensee for the project and plans to license the brand, ‘Hempire Jamaica’ to the tenant and has acquired the domain www.HempireJamaica.com.

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Thu, 23 Aug 2018 10:35:00 -0400 https://www.proactiveinvestors.com/companies/news/203501/crop-infrastructure-welcomes-authority-on-jamaican-cannabis-industry-as-advisor-203501.html
<![CDATA[News - CROP Infrastructure expands footprint in Nevada with further 750 acres ]]> https://www.proactiveinvestors.com/companies/news/203413/crop-infrastructure-expands-footprint-in-nevada-with-further-750-acres-203413.html CROP Infrastructure (CNSX:CROP) continues to expand the footprint in Nevada - as it revealed it had leased a further 750 acres of contiguous agricultural farmland bringing the total acreage in the state to 1,065.

"As previously announced in July, our Nevada Hemp farm and licensed tenant became the largest hemp farmer in Nevada in 2018," said director and CEO Michael Yorke.

"We are confident with over 1,000 acres that our tenant will remain the largest hemp farm in Nevada. The next phase of development will be a state-of-the-art extraction facility to make high-value CBD isolate."

The newly-leased acreage comes with four housing units and a building to be converted into an extraction facility to process hemp biomass for CBD isolate on site, the firm said.

Crop revenue to part fund lease

The two-year lease will cost US$566 per acre per year and the company intends to use a portion of the revenue from its first crop to pay for the lease.

The lease also has access to more than 300 acres of additional water rights. The additional 750 acres of pivot development potential will substantially increase production for the 2019 season, said CROP.

In Nevada already, 240 acres of CBD hemp have been planted and all harvesting equipment has been secured for the resulting biomass.

CROP Infrastructure reckons the 240-acre pivots will yield 240,000 pounds of hemp flower, with the cost of production not expected to exceed US$700,000, with many of the costs already incurred.

The first harvest is expected in the early part of the fourth quarter this year.

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Wed, 22 Aug 2018 10:00:00 -0400 https://www.proactiveinvestors.com/companies/news/203413/crop-infrastructure-expands-footprint-in-nevada-with-further-750-acres-203413.html
<![CDATA[News - Crop Infrastructure advances its dispensary application in California ]]> https://www.proactiveinvestors.com/companies/news/202991/crop-infrastructure-advances-its-dispensary-application-in-california-202991.html CROP Infrastructure (CNSX:CROP) has made further progress in California, saying its San Bernardino dispensary application has passed stage one.

As reported last month, cannabis industry-focused CROP has agreed to finance buying real estate when it is granted a California dispensary licence.

These dispensaries, to operate under the brand name Emerald Heights, would enable CROP's producer tenants to vertically integrate themselves.

READ: CROP Infrastructure strikes supply deal for hemp products

Also on Wednesday, CROP said it had increased its ownership to 49% from 30% for its "Emerald Triangle" cannabis production facility, which is tenanted by "Hempire" in Humboldt California, where harvesting recently began at the first of five 2,000 sq ft greenhouses.

It will buy the additional 20% of Humboldt for total consideration of C$1mln in shares.

"This is an exciting time for Crop as our tenant begins its first harvest in California which makes this an ideal time to increase our ownership in the project from 30% to 49%," said director and chief executive Michael Yorke.

"Our Humboldt facility is located in one of the most important cannabis jurisdictions in the US and potentially the world known as the Emerald Triangle.

"With the advancement of our dispensary application, we are now moving towards assisting tenants in becoming fully vertically integrated in the State of California."

At Humboldt county, as each greenhouse is harvested new starter plants will populate the canopy space.

Once 10,000 sq ft of plants have been taken down, the additional 20,000 sq ft of the canopy will then be harvested.

Crop shares were unchanged in Toronto at C$0.195.

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Wed, 15 Aug 2018 14:16:00 -0400 https://www.proactiveinvestors.com/companies/news/202991/crop-infrastructure-advances-its-dispensary-application-in-california-202991.html
<![CDATA[News - CROP Infrastructure inks latest joint venture deal in Jamaica ]]> https://www.proactiveinvestors.com/companies/news/201938/crop-infrastructure-inks-latest-joint-venture-deal-in-jamaica-201938.html Cannabis- focused Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) keeps rolling on and has struck its latest joint venture deal -  in Jamaica.

It now has a 49% interest in a zero-cost lease of a 217,000 sq ft property (five acres), which is ideally positioned for future Cannabis production and extraction, said the company

The land has been secured in the Westmoreland Parish, some of the most fertile land in Jamaica.

"CROP continues to build its global footprint by securing this strategic joint venture in Jamaica," said CROP director and chief executive Michael Yorke.

"Many countries are now introducing new licensing and legislative regimes for CBD and cannabis and are prime entry points for our growing organization.

"Jamaica is of particular interest as its licensing regime allows for a full suite of genetics which will give our tenant growers the advantage of being able to provide buyers with a broad variety of CBD and THC end products."

Jamaica has over 2.8mln residents and around 3mln visitors each year. In a report from the Jamaica Observer, Edmund Bartlett, the current Jamaican minister of tourism, estimated the global marijuana tourism market stood at US$494bn.

CROP is now trying to identify a suitable tenant licensee for the project and plans to license the brand, ‘Hempire Jamaica’ to the tenant and has acquired the domain www.HempireJamaica.com.

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Tue, 31 Jul 2018 09:34:00 -0400 https://www.proactiveinvestors.com/companies/news/201938/crop-infrastructure-inks-latest-joint-venture-deal-in-jamaica-201938.html
<![CDATA[News - Crop Infrastructure has largest hemp farm in Nevada after additional planting ]]> https://www.proactiveinvestors.com/companies/news/201477/crop-infrastructure-has-largest-hemp-farm-in-nevada-after-additional-planting-201477.html Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) said its tenant grower The Hempire Company had now completed planting an additional 120 acres in Nevada, for a total of 240 acres, making it the largest hemp farm in the US state.

It is also now beginning to prepare the site for a CBD (cannabidiol) isolate extraction facility in Nye County.

A formal licence

Earlier this month, Hempire was issued with a formal Nevada hemp licence covering all 240 pivoted (around a sprinkler system) acres of the farm.

Planting has been completed on 120 acres and was underway on a further 120 acres - now complete.

"Crop's property is now the largest hemp farm in Nevada and its tenant is the largest grower; the next phase of development will be a state-of-the-art extraction facility to make CBD isolate, which is a highly sought-after product," said Crop director and chief executive Michael Yorke today.

The firm said the farm lies in central Nevada and was selected for its temperate climate.

The property totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.

Readying for extraction facility

The site for the extraction facility is being cleared and an application permit for construction being prepared.

Additionally, permitting for the construction of cannabis greenhouses will be planned once the company is able to acquire a cannabis cultivation licence on the 50 acres set aside.

The strains of the plant selected -  BaOx and Cherry BaOX -  have a THC content of 15% and it is estimated that the 240-acre pivots will yield 240,000 pounds of hemp flower.

The cost of production is not expected to exceed US$700,000 and the first harvest is expected in the early fourth quarter this year.

Shares nudged up 4.76% in Toronto to stand at C$0.22.

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Tue, 24 Jul 2018 13:53:00 -0400 https://www.proactiveinvestors.com/companies/news/201477/crop-infrastructure-has-largest-hemp-farm-in-nevada-after-additional-planting-201477.html
<![CDATA[News - Crop Infrastructure set to complete second Washington state greenhouse ]]> https://www.proactiveinvestors.com/companies/news/201164/crop-infrastructure-set-to-complete-second-washington-state-greenhouse-201164.html Crop Infrastructure Corp.(CSE:CROP), OTCMKTS:CRXPF) can now complete construction of its second Washington state greenhouse facility having received final water permits.

The site is called "The Dozen" and follows news this week that its tenant grower at the Park state-of-the-art greenhouse in Washington state expects to harvest an initial 350 pounds of high-quality cannabis within six weeks.

The company's director and chief executive Michael Yorke noted that all five of the company's facilities were nearing completion or are expecting tenant harvests in the third quarter and fourth quarter of 2018.

"Crop has made significant progress in a short time period developing its portfolio of purpose-built real estate and branding IP," he added.

At the 'Dozen', the first six greenhouse structures (of 12) are under construction with completion anticipated shortly.

Licenced tenant growers

Each phase of completion will be leased to licensed tenant growers along with brand licensing and standard operating procedures (SOPs).

Overall the planned total indoor area comprises about 44,000 square feet.

Completion of the first six is expected to cost no more than US$200,000 and is not expected to take more than 45 days. These six are designed to yield tenants 12,000 pounds per year with an additional 25% in byproduct.

The Dozen has a regional electricity rate of two US cents per killowatt-hour and based on internal calculations provided by the company's expert consulting partner, should result in tenant cost of production of less than US$150 per pound (33 cents per gram) should the tenants adhere to Crop's suggested standard operating procedures.

Shares in Toronto nudged up 2.22% to C$0.23.

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Thu, 19 Jul 2018 10:22:00 -0400 https://www.proactiveinvestors.com/companies/news/201164/crop-infrastructure-set-to-complete-second-washington-state-greenhouse-201164.html
<![CDATA[News - Crop Infrastructure Corp tenant at The Park in Washington state expects harvest within six weeks ]]> https://www.proactiveinvestors.com/companies/news/200974/crop-infrastructure-corp-tenant-at-the-park-in-washington-state-expects-harvest-within-six-weeks-200974.html Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) said its tenant grower at the The Park state-of-the-art greenhouse in Washington state expects to harvest an initial 350 pounds of high quality cannabis within six weeks.

The facility will be at full scale production in September this year, the company added.

It comes as the upgrades and retrofit has now been completed on the 35,000 sq ft cannabis greenhouse, which sits on around nine acres.

"With all of CROP's facilities' tenants now expecting to harvest, the company's real estate and brand portfolio should begin to provide all important regular cash flow while building equity in the IP of our brands," said CROP Infrastructure director and chief executive Michael Yorke.

"CROP will now be able to benefit from its real-estate backed, recurring revenue model while expanding into other favorable legal cannabis jurisdictions."

The greenhouse has five flowering bays designed to yield, at full scale production, around 12,000 pounds of high quality cannabis annually (around 1,000 pounds per month).

The facility requires no further capital expenditure for upgrades for the tenant to reach full commercial production.

On Friday last week, CROP told investors that its tenant grower The Hempire Company was propagating seeds on hundreds of acres in Nye county, Nevada.

Planting has been completed on 120 acres and is now underway on a further 120 acres.

And the same week, it said its tenant operator at the Humboldt property in California will be bringing in its first cannabis harvest by the end of next month (August).

The current 10,000 square feet of canopy is divided into five separate greenhouses and these are expected to yield around 150 pounds of plants per greenhouse.

The tenant had received final approval for an additional 20,000 sq ft of recreationally licensed canopy space subject to security upgrades, which have now been completed by CROP.

CROP shares are unchanged at C$0.22 on Tuesday.

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Tue, 17 Jul 2018 10:40:00 -0400 https://www.proactiveinvestors.com/companies/news/200974/crop-infrastructure-corp-tenant-at-the-park-in-washington-state-expects-harvest-within-six-weeks-200974.html
<![CDATA[Media files - Daily CryptoCann™ Report: American Express files blockchain patent; Crop Infrastructure’s tenant grower begins Nevada planting ]]> https://www.proactiveinvestors.com/companies/stocktube/9851/daily-cryptocann-report-american-express-files-blockchain-patent-crop-infrastructures-tenant-grower-begins-nevada-planting-9851.html Fri, 13 Jul 2018 16:58:00 -0400 https://www.proactiveinvestors.com/companies/stocktube/9851/daily-cryptocann-report-american-express-files-blockchain-patent-crop-infrastructures-tenant-grower-begins-nevada-planting-9851.html <![CDATA[News - Daily CryptoCann™ Report: American Express files blockchain patent; Crop Infrastructure’s tenant grower begins Nevada planting ]]> https://www.proactiveinvestors.com/companies/news/200793/daily-cryptocann-report-american-express-files-blockchain-patent-crop-infrastructures-tenant-grower-begins-nevada-planting-200793.html There are some big-name investors jumping aboard the crypto train.

Billionaire Steven Cohen has invested in a hedge fund focusing on cryptocurrency and blockchain, according to a Bloomberg report. Cohen’s venture capital firm, Cohen Private Ventures, invested an undisclosed amount into Autonomous Partners, a hedge fund founded by venture capitalist Arianna Simpson.

Simpson previously was involved with Bitcoin wallet start-up BitGo. Other high-profile investors include Union Square Ventures, Craft Ventures and Coinbase CEO Brian Armstrong.

READ: Daily CryptoCann™ Report: Top economist thinks regulation will be the end of Bitcoin; WeedMD inks supply deal in British Columbia

American Express Company (NYSE:AXP) is also moving further into the blockchain space.

The credit card giant has filed a patent for a blockchain-based automated proof-of-payment system, according to a Coin Telegraph report. The patent was filed by American Express Travel Related Services Co Inc, the company’s travel segment.

According to the filing, the blockchain-based system could be used for hotel reservations, tickets, and real estate rental purposes.

The financial titan is a member of the Hyperledger Blockchain consortium, a cross-industry effort to advance blockchain technology.

The Cann Report

Crop Infrastructure Corp’s (CSE:CROP, OTCMKTS:CRXPF) tenant grower has begun planting in Nevada. The Hempire Company has received a hemp license for all 240 acres of its farm in Nye County.

"Our licensed tenant Hempire has doubled the planned hemp growing acreage from 120 acres to 240 acres for the last crop of the 2018 season," said Crop Infrastructure CEO Michael Yorke.

The company expects the first harvest to take place in this year’s fourth quarter.

READ: Crop Infrastructure says tenant The Hempire Company has started planting in Nevada

In other Nevada news, Terra Tech Corp (OTCQX:TRTC) has sold its store just north of the Las Vegas strip, as per a press release.

The 3,900 square foot retail shop was bought by Exhale Brands Nevada for US$6.25mln.

Terra Tech will still have a presence in the state’s growing marijuana market, operating two shops in Las Vegas and one in Reno and 30,000 square foot cultivation facility in Sparks.

The deal is expected to close within the next 90 days.

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Fri, 13 Jul 2018 12:26:00 -0400 https://www.proactiveinvestors.com/companies/news/200793/daily-cryptocann-report-american-express-files-blockchain-patent-crop-infrastructures-tenant-grower-begins-nevada-planting-200793.html
<![CDATA[News - Crop Infrastructure says tenant The Hempire Company has started planting in Nevada ]]> https://www.proactiveinvestors.com/companies/news/200788/crop-infrastructure-says-tenant-the-hempire-company-has-started-planting-in-nevada-200788.html Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) had more planting news out today as its tenant grower The Hempire Company is propagating seeds on hundreds of acres in Nye county, Nevada.

Hempire has been issued a formal Nevada hemp licence covering all 240 pivoted (around a sprinkler system) acres of the farm.

Planting has been completed on 120 acres and is now underway on a further 120 acres.

"Our licensed tenant Hempire has doubled the planned hemp growing acreage from 120 acres to 240 acres for the last crop of the 2018 season," said CROP Infrastructure director and chief executive Michael Yorke.

"This is great news for our fourth quarter projections; we are now expecting Q3 & Q4 tenant harvest in all four jurisdictions where the company is present: California, Nevada, Washington State and Italy."

Yesterday, CROP said its joint venture partner XHemplar Italia had planted 25 acres, or 1.089mln sq ft of high-cannabidiol Cannabis Light in the European country - a 100% increase in its previously announced capacity.

The agreement sees CROP own 30% of the venture under the name of Xhemplar. CROP will provide an initial investment of €500,000.

Meanwhile, the Nye County agricultural Hemp farm  in question today lies in central Nevada and was selected for its temperate climate which is ideal for greenhouse and outdoor growing.

The property spans over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.

The strains of plant selected -  BaOx and Cherry BaOX -  have a THC content of 15% and it is estimated that the 240 acre pivots will yield 240,000 pounds of hemp flower.

The cost of production is not expected to exceed US$700,000 and the first harvest is expected in early fourth quarter this year.

CROP Infrastructure shares added 3.70% to C$0.28 in Toronto.

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Fri, 13 Jul 2018 11:27:00 -0400 https://www.proactiveinvestors.com/companies/news/200788/crop-infrastructure-says-tenant-the-hempire-company-has-started-planting-in-nevada-200788.html
<![CDATA[News - Crop Infrastructure Corp's Italian joint venture partner plants up 25 acres ]]> https://www.proactiveinvestors.com/companies/news/200603/crop-infrastructure-corp-s-italian-joint-venture-partner-plants-up-25-acres-200603.html Crop Infrastructure Corp.(CSE:CROP, OTCMKTS:CRXPF) revealed its Italian joint venture partner had begun the process of production in the European country.

Joint venture partner XHemplar Italia has planted 25 acres, or 1.089mln sq ft of high-cannabidiol Cannabis Light in the European country, a 100% increase in its previously announced capacity.

It was last month that CROP had unveiled the new joint venture deal in Italy. The agreement will see CROP own 30% of the venture under the name of Xhemplar. CROP will provide an initial investment of €500,000.

"The company is extremely encouraged by the fast pace with which the team at XHemplar has commenced production in Italy," said CROP Infrastructure director and chief executive Michael Yorke on Wednesday.

"CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in California, Washington State, Nevada, Italy and joint ventures on West Hollywood and San Bernardino dispensary applications.

"CROP has developed a portfolio of 15 Cannabis brands and also has US and Italian distribution rights to a line of over 55 cannabis topical products.

"Management will continue to aggressively pursue new worldwide opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions."

The joint venture's resulting 'Cannabis Light'  will be processed and sold into international CBD markets under a white label, the venture's house name XHemplar and Crop brands Tiffany CBD and Hempire Italia.

CROP said it will also use the production to infuse its recently announced therapeutic and cosmetic product lines, licensed from The Yield Growth Corp, which transaction is now complete giving Crop exclusive rights in Italy to over 55 wellness products.

CROP shares were unchanged at C$0.29.

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Wed, 11 Jul 2018 10:20:00 -0400 https://www.proactiveinvestors.com/companies/news/200603/crop-infrastructure-corp-s-italian-joint-venture-partner-plants-up-25-acres-200603.html
<![CDATA[News - Crop Infrastructure expecting first harvest from Humboldt County property before end August ]]> https://www.proactiveinvestors.com/companies/news/200389/crop-infrastructure-expecting-first-harvest-from-humboldt-county-property-before-end-august-200389.html Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) revealed its tenant operator at the Humboldt property in California will be bringing in its first cannabis harvest by the end of next month (August).

The current 10,000 square feet of canopy is divided into five separate greenhouses and these are expected to yield around 150 pounds of plants per greenhouse.

The tenant had received final approval for an additional 20,000 sq ft of recreationally licensed canopy space subject to security upgrades, which have now been completed by CROP, the firm said.

READ: Crop Infrastructure shares zoom up as it buys 49% interest in Nevada farm

The tenant has now planted 20,000 sq ft of recreational cannabis with Green Crack, Birthday Cake, and Green Scout Cookie strains, the company added.

This additional production will complement CROP’s recently announced partnership on West Hollywood and San Bernardino dispensary applications.

"Starting on July 1, cannabis retailers in California will only be able to sell products that have been independently lab-tested; everything else will be destroyed," said CROP Director and chief executive Michael Yorke.

"CROP’s real estate and infrastructure only allows natural and organic materials on the property, and only accepts tenant operators who adhere to Organic cultivation practices.

"We are excited for our tenant’s first harvest and for CROP’s licensed brands to enter the California market."

It's been a busy and exciting spell for the cannabis-focused group.

READ: Crop Infrastructure hails partnership deal with Ocean Green for California

On Friday, shares surged as it unveiled its latest deal - the acquisition of a 49% stake in a Nevada farm.

It has inked the deal with Elite Ventures to buy the 49% member interest in the Nye county agricultural property.

CROP will pay US$1.3mln in cash and has already paid US$600,000 so far.

And the day before that, the  company told investors it had struck a sales and commercial property agreement with Ocean Green Management of California.

CROP will partner on multiple applications to gain cannabis retail locations and has the option to buy the commercial real estate.

It has agreed to finance the purchase of real estate on the grant of a license, it said.

Shares jumped up over 29% to C$0.375 on Monday in Toronto.

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Mon, 09 Jul 2018 09:46:00 -0400 https://www.proactiveinvestors.com/companies/news/200389/crop-infrastructure-expecting-first-harvest-from-humboldt-county-property-before-end-august-200389.html
<![CDATA[News - Crop Infrastructure shares zoom up as it buys 49% interest in Nevada farm ]]> https://www.proactiveinvestors.com/companies/news/200311/crop-infrastructure-shares-zoom-up-as-it-buys-49-interest-in-nevada-farm-200311.html Crop Infrastructure Corp. (CSE:CROP, OTCMKTS:CRXPF) shares zoomed up over 21% Friday as it unveiled its latest cannabis deal - the acquisition of a 49% stake in a Nevada farm.

It has inked the deal with Elite Ventures to buy the 49% member interest in the Nye county agricultural property.

CROP will pay US$1.3mln in cash and has already paid US$600,000 so far.

READ: Crop Infrastructure hails partnership deal with Ocean Green for California

The tenant has already negotiated a contractor to clear 1 pivot of 120 acres and begin tilling the area at a cost of US$16,920.

Once clear, it will be planted with around 900,000 seeds of high CBD strain of hemp at a cost of $90,000.

CROP estimates that the 120-acre first pivot will yield 120,000 pounds of flower, with costs not more than C$60,000 for the crop and a harvest in early fall.

"We are extremely pleased with how quickly our team and tenant have worked together to advance this project," said CROP Infrastructure director and chief executive.

"From internal study to commencing production, they have done a great job.

"With cannabis infrastructure in Italy, California and Washington, CROP is expanding its footprint and operations in some of the largest legal markets throughout the US and beyond."

READ: Crop Infrastructure heads to Europe with 522,000 sq ft greenhouse joint venture in Italy

The property is in central Nevada and was selected for its temperate climate which is ideal for greenhouse and outdoor growing.

It totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.

Nevada hemp growers surveyed by Marijuana Business Daily report that the market is fetching C$200 or more per pound for flower, depending on CBD (cannabidiol) content and quality.

Shares rocketed over 56% to C$0.29 each in Toronto.

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Fri, 06 Jul 2018 11:45:00 -0400 https://www.proactiveinvestors.com/companies/news/200311/crop-infrastructure-shares-zoom-up-as-it-buys-49-interest-in-nevada-farm-200311.html