CROP Infrastructure Corp (CSE:CROP) announced Thursday that it has received 1,000 four-foot tall cannabis plants at its Humboldt County farm in California.
The plants are expected to have higher yields than previous plants as they are much taller and fuller, the company said in a statement.
The Humbolt farm has a total of 10,000 square feet of indoor cultivation spread throughout five greenhouses, and an additional 20,000 square feet of outdoor grow acreage.
The cannabis licensed producer also announced that the farm has received approval from the Humboldt County Planning Department to expand its facility to include a 30,000 square foot automated light dep greenhouse facility and additional vault space.
The new facility is expected to yield 12,000 pound per year and cost around $500,000 in capital expenditures. It will allow the company to cultivate crop throughout the year and triple the output of existing California infrastructure.
"The company's manufacturing partners are finishing up the farms final products of the 2018 season and now we are preparing to scale up our operations with a new state of the art facility,” said CROP’s CEO Michael Yorke.
“We will be particularly interested to see how these new, advanced plants perform."
CROP's portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, 2,115 acres of Hemp CBD farms, and a growing portfolio of common share equity in upcoming listings within the cannabis space.
Shares of CROP were trading at C$0.31 in Canada at Wednesday’s close.
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