logo-loader
viewCrop Infrastructure Corp.

Crop Infrastructure's Hempire ups its stake in California distribution company

The brand now owns a majority stake in Flip Distro, which it plans to use as a secondary fulfillment center for delivery logistics in California

Cannabis crop
CROP is also investigating retail locations in Cathedral City, California for its flagship Emerald Heights brand store

Crop Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) revealed Wednesday that its cannabis subsidiary Hempire has upped its stake in a distribution company.

The brand shelled out $100,000 for a 51% majority stake in Flip Distro, which it plans to use as a secondary fulfillment center for delivery logistics in California.

Humboldt Holdings, another CROP subsidiary, has the option to acquire Hempire’s interest in Flip if and when it becomes legal for it to do so.

READ: World Farms to go public on Canadian Securities Exchange in reverse takeover

The Vancouver-based company is also investigating retail locations in Cathedral City, California to use for its flagship Emerald Heights brand store.

“CROP will be able to connect the Emerald Heights Southern California retail provisional licence with Flip Distro’s Northern California distribution license to create a secondary drop point for delivery drivers,” CEO Michael Yorke said. “CROP and its partners are working hard to create as much value through the supply chain as possible for shareholders.”

CROP’s portfolio includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, 2,115 acres of hemp CBD farms and equity in upcoming cannabis sector listings.

Its assets also include Canna Drink, a cannabis-infused beverage line.

CROP's stock slid 5.3% to C$0.18 on the CSE and 2.3% to US$0.14 on OTC Markets.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

Quick facts: Crop Infrastructure Corp.

Price: 0.015 CAD

CSE:CROP
Market: CSE
Market Cap: $2.56 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Crop Infrastructure Corp. named herein, including the promotion by the Company of Crop Infrastructure Corp. in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Buds & Duds: Cannabis stocks flat as a pancake but CROP shares jump on first...

Cannabis stocks cruised into Friday flat as a pancake across North American markets. Buds today were CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF), True Leaf Brands Inc (CSE:MJ) (OTCMKTS:TRLFF), while the duds were TerrAscend Corp (CSE:TER) (OTCMKTS:TRSSF),...

on 08/23/2019

2 min read