Breaking News: Crop’s Nevada CBD Farm Receives Hemp Licence Approval From State and Commences Planting on 240 Acres

CROP Infrastructure Corp. (OTC: CRXPF) (CSE: CROP) announces that its tenant grower “The Hempire Company, LLC” has been issued a formal Nevada hemp licence covering all 240 pivoted acres of CROP’s Nye County, Nevada farm. Planting has been completed on 120 acres and is now underway on an additional 120 acres, consisting of only approved organic and natural materials in agriculture production in order to be deemed an Organic operation.

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 genetics selected, BaOx and Cherry BaOX have a THC content of <0.3% and a CBD content of >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: “Our licensed tenant Hempire has doubled the planned hemp growing acreage from 120 acres to 240 acres for the last crop of the 2018 season.  This is great news for our fourth quarter projections; we are now expecting Q3 & Q4 tenant harvest in all 4 jurisdictions where the company is present: California, Nevada, Washington State and Italy.”

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