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.
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.
“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 [email protected]