Breaking News: CROP’s Nevada CBD Farm Completes Planting of 240 Acres and Begins Site Preparation for Extraction Facility

CROP Infrastructure Corp. (OTC: CRXPF)(CSE: CROP) announces that its tenant grower has completed planting of the additional 120 acres and is beginning site preparation and planning for the development of a CBD Isolate extraction facility. The Nye County agricultural hemp farm is located in central Nevada and was selected for its temperate climate, which is ideal for greenhouse and outdoor growing. The property totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed. The desired location for the extraction facility is being cleared and leveled with permit application for construction being prepared. The Company is currently reviewing several quotes for industrial drying solutions and extraction equipment and will release further details once plans have been finalized. Additionally, permitting for the construction of cannabis greenhouses will be planned once the company is able to acquire a Cannabis Cultivation License on the 50 acres set aside.

The genetics selected (BaOx and Cherry BaOX) have a THC content <0.3% and a CBD content >15%. It is estimated that the 240 acre pivots will yield 240,000 pounds of hemp flower. Cost of production is not expected to exceed $700,000 USD.  The first harvest is expected in early Q4 this year.

Nevada hemp growers surveyed by Marijuana Business Daily report that the market is fetching:

  • $200 or more per pound for flower, depending on CBD content and quality
  • Approximately $10 per pound of food-grade seed, or $45 per gallon for seed oil
  • Approximately $200 per ton of baled fiber
  • Approximately $10,000 per Kg of CBD isolate

CROP Infrastructure Director and CEO, Michael Yorke stated: “CROP’s property is now the largest hemp farm in Nevada and its tenant is the largest grower; the next phase of development will be a state of the art extraction facility to make CBD isolate, which is a highly sought after product.”

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