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Crop Infrastructure Corp.

CROP Infrastructure Corp achieves first plant harvest of 2019 from California greenhouse

CEO Michael Yorke said that the initial inspection of the harvest looks very promising

cannabis plant hand
The greenhouses will be replanted for an additional harvest expected in October

CROP Infrastructure Corp (CSE:CROP) (OTCMKTS:CRXPF) shares rose on Friday following news the firm hit a new milestone this week with the completion of its first harvest of 2019.

In morning trade in Toronto, CROP shares were 4.5% higher at C$0.115.

The plants from the Vancouver-based cannabis company’s California greenhouses have all been dried and are waiting to be trimmed, the company said in a release Friday.

Following this harvest, the greenhouses will be replanted for an additional harvest expected in October.

READ: CROP Infrastructure's US farms report orders worth US$125,374 for August

CROP said that its outdoor plants are now in flower and are expected to be harvested in phases depending on the plant’s maturity sometime over the next eight weeks.

CEO Michael Yorke said that the company is waiting to see the final market value of this year’s harvest.

“The initial inspection of the harvest looks very promising, but we will have to wait a little longer for the final analysis, which, of course will determine the final market value,” Yorke said in the company's statement.

“The outdoor crop is flourishing and looks good for a staged harvest with completion by the end of October.”

The company also said that 5,000 vape cartridges under the Hempire and Evolution brands have been filled and are awaiting orders.

CROP owns a portfolio of cannabis brands, CBD and real estate assets, including cultivation properties in California and Washington State.

The full portfolio includes a cannabis-infused beverage line called Canna Drink and 16 cannabis brands.

 -- Adds share price --

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: Crop Infrastructure Corp.

Price: $0.07

Market: CSE
Market Cap: $11.58 m
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