Yahoo Finance InvestmentPitch Media Video Discusses Crop Infrastructure's Progress at "The Dozen" Cannabis Greenhouse Facility in Washington Including Final Water Rights - Video News Alert on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - July 20, 2018) - Crop Infrastructure Corp. (CSE: CROP) (OTC Pink: CRXPF) has received the final water permits for its "The Dozen" cannabis greenhouse facility in Washington State. Phase one of construction, consisting of site preparation and foundations for twelve purpose-built indoor agricultural canopies encompassing a planned total area of approximately 44,000 square feet is nearing completion.
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The first six greenhouse structures, which are expected to be completed within 45 days, are expected to cost no more than US$200,000. Each phase of completion will be leased to licensed tenant growers along with brand licensing and Standard Operating Procedures. The first six greenhouses are designed to yield tenants 12,000 pounds per year with an additional 25% in by-product.
The Dozen currently benefits from a regional electricity rate of US$0.02 per kilowatt hour. Based on internal calculations provided by the company's expert consulting partner, production costs to the tenants should be less than US$150.00 per lb. or $0.33 per gram, providing the tenants adhere to CROP's suggested Standard Operating Procedures.
Michael Yorke, CEO, stated: "CROP has now received the necessary water permits and can now complete construction on the company's second Washington State facility, "The Dozen". All five of our facilities are nearing completion or are expecting tenant harvests in Q3 and Q4 of 2018. CROP has made significant progress in a short time period developing its portfolio of purpose built real estate and branding IP."
CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations.
The Company's portfolio of projects includes cultivation properties in California, Washington State, Nevada, Italy and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 15 Cannabis brands for licensing to tenants and also has US and Italian distribution rights for over 55 cannabis topical products from The Yield Growth Corp.
For more information, please visit the company's website at www.cropcorp.com, contact Michael Yorke, CEO, at 604-484-4206 or email info@cropcorp.com.
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