The site is called "The Dozen" and follows news this week that its tenant grower at the Park state-of-the-art greenhouse in Washington state expects to harvest an initial 350 pounds of high-quality cannabis within six weeks.
The company's director and chief executive Michael Yorke noted that all five of the company's facilities were nearing completion or are expecting tenant harvests in the third quarter and fourth quarter of 2018.
"Crop has made significant progress in a short time period developing its portfolio of purpose-built real estate and branding IP," he added.
At the 'Dozen', the first six greenhouse structures (of 12) are under construction with completion anticipated shortly.
Licenced tenant growers
Each phase of completion will be leased to licensed tenant growers along with brand licensing and standard operating procedures (SOPs).
Overall the planned total indoor area comprises about 44,000 square feet.
Completion of the first six is expected to cost no more than US$200,000 and is not expected to take more than 45 days. These six are designed to yield tenants 12,000 pounds per year with an additional 25% in byproduct.
The Dozen has a regional electricity rate of two US cents per killowatt-hour and based on internal calculations provided by the company's expert consulting partner, should result in tenant cost of production of less than US$150 per pound (33 cents per gram) should the tenants adhere to Crop's suggested standard operating procedures.
Shares in Toronto nudged up 2.22% to C$0.23.