CROP Infrastructure Corp. (OTC: CRXPF) (CSE: CROP) announces today it has entered into an agreement with Ocean Green Management LLC of California, to partner on multiple applications for Cannabis Retail locations with the option to purchase the commercial real estate. The Company has agreed to finance the purchase of real estate on the grant of a license. The dispensaries will operate under the brand: Emerald Heights.
Combined with the company’s ‘Emerald Triangle’ cannabis production facility currently tenanted by Hempire, these dispensaries would enable CROP tenants to vertically integrate themselves to maximize return on investment. Both location applications have been designed using professional designers and branding agencies to the requirements of the state. The company’s production facility currently consists of a 10,000 square foot medicinal cannabis greenhouse facility and an additional 20,000 square feet of recreational licensed canopy.
According to a report from BDS Analytics, sales of cannabis in California is expected to hit $3.7 Billion in 2018 alone with that number expected to grow to $5.1 Billion in 2019 as more dispensaries come online.
CROP Infrastructure Director & CEO, Michael Yorke, states: “CROP’s goal is to be a vertically integrated company and to have investment exposure in all levels of the supply chain. We look forward to partnership with Ocean Green and will continue on working on our application with an objective of having retail locations for our tenant brands in California as well as other states and countries where CROP is present.”
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