Proactive Investors - Run By Investors For Investors

CROP Infrastructure receives 2019 production, extraction licenses for Nevada hemp operations

CEO Michael Yorke said that with the increased size and operating range of its tenant's licenses, its Nevada CBD operations were becoming a “truly world class operation”
A CROP  Infrastructure facility
CROP’s portfolio of cannabis projects include cultivation properties in California and Washington state, a 1,000-acre Nevada cannabis farm and extraction work in Nevada

CROP Infrastructure Corp (OTCMKTS:CRXPF) (CNSX:CROP) announced Thursday that its 49%-owned subsidiary Elite Ventures reported that Hempire, the company's Nevada tenant, has been issued production and extraction licenses.

Hempire received hemp handler, hemp nursery and hemp grower licenses covering 1,350 irrigated acres on its 2,115 acres of owned or leased Cannabidiol (CBD) focused lands.

A hemp handler is registered with the licensing department to receive industrial hemp for processing into commodities, products or agricultural hemp seed.

DEEP DIVE: CROP Infrastructure looks to capitalize on the “green rush”

CROP said the company applied for its hemp grower licence, nursery and hemp handler licence in anticipation of its lab extracting and producing CBD isolate with a throughput capacity of one ton per day of raw biomass.

The company increased the acreage covered by its hemp licences from 240 acres of cultivation in 2018 to 1,350 acres of irrigated cultivation for 2019.

"With the increased size and operating range of our tenant's licenses, CROP's Nevada CBD operations are emerging into a truly world class operation,” said CROP CEO Michael Yorke in a statement. “Our land holdings, micropropagation team, strategies, drying and extraction capabilities and supply agreements will enable us to operate from seeds to isolate to sales in 2019."

CROP’s portfolio of cannabis projects include cultivation properties in California and Washington state, a 1,000-acre Nevada cannabis farm and extraction work in Nevada.

CROP subsidiary Elite Ventures has completed a 1,600 square foot genetics, tissue-culturing and micropropagation lab at its Nevada tetrahydrocannabinol farm. The lab will aim to provide 10 million plant starts for the company's 2,115 acres of CBD farms.

By propagating in the lab, the company will save around $3 million in seed and planting costs for the 2019 season.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter@UttaraProactive 

Join Proactive’s Crypto, Blockchain and Cannabis Telegram group here
View full CROP profile View Profile

Crop Infrastructure Corp. Timeline

Related Articles

data graphic
07:30
The Toronto company is busy meeting what it says is significant demand by building a data asset covering the medical cannabis sector
The Green Organic Dutchman windmill in a field
December 12 2018
TGOD has been building out its facilities in Ontario, Quebec, and Jamaica, expecting to reach combined production of 170,000 kilograms of cannabis around 2020
1541165310_canadian-flag-1.jpg
November 02 2018
Back Home Medical Cannabis Corp has agreed on a 24,000-kilogram three-year production and supply agreement

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use