Crop Infrastructure Corp (CSE:CROP) announced today that its tenant grower, Hempire Company LLC, has received final approval for an additional 20,000 square feet of recreationally licensed canopy space from CalCannabis Cultivation Licensing, a division of the California Department of Food and Agriculture, for its Humboldt campus in California, as announced on May 9, 2018.
Currently, the company's Humboldt campus consists of an operational 10,000-square-foot medicinal cannabis greenhouse facility. The new approval means it now has an additional 20,000 square feet of recreational licensed canopy.
"With the approval of this additional 20,000 square feet, the Humboldt campus will triple in size and tenant production capacity. Crop's portfolio of cannabis infrastructure assets includes two Washington State facilities as well as the Humboldt campus in California, the largest cannabis market in the world," said Crop Infrastructure director and chief executive officer Michael Yorke.
"Management will continue to aggressively pursue new worldwide opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions."
READ: Crop Infrastructure strikes licensing agreement with The Yield Growth Corp
It is expected that plant population will commence in June or July 2018.
Located in Humboldt county, California, the property is 8.46 acres and currently houses a 10,000-square-foot greenhouse as well as a barn, garage and residence. On site are five 5,000-gallon water tanks, a well and pump house, and a 30-by-60 drying shed.
Shares of Crop Infrastructure were up 6.38% at C$0.25.