VANCOUVER, British Columbia, Aug. 23, 2019 (GLOBE NEWSWIRE) -- CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) (“CROP” or the “Company”), announced today completion of its first harvest of 2019 from its greenhouses in California.
The crops from all five greenhouses have been dried and are now being trimmed. Final harvest weight is still to be determined. The greenhouses will be replanted for an additional October harvest.
The outdoor ‘554’ plants are now in flower and are expected to be harvested in staggered phases, depending on maturity in the next eight weeks.
5,000 Hempire and Evolution vape cartridges have been filled and are awaiting Flip Distro orders.
CROP CEO, Michael Yorke, stated: “The initial inspection of the harvest looks very promising, but we will have to wait a little longer for the final analysis, which, of course will determine the final market value. The outdoor crop is flourishing and looks good for a staged harvest with completion by the end of October.“
CROP is a publicly listed company trading on the CSE under the symbol CROP. The Company is focused on owning a portfolio of cannabis branding, CBD and real estate assets through its wholly and partially-owned subsidiaries. CROP’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre California cannabis farm, 2,115 acres of Hemp CBD farms, and a growing portfolio of share equity in various companies within the cannabis space.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line and 16 cannabis brands.
Disclaimer for Forward-Looking Statements
This news release contains forward-looking statements that involve various risks and uncertainties regarding future events. Such forward-looking statements are based on current expectations of management, involve a number of risks and uncertainties, and are not guarantees of future performance of the Company. These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “will”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include, but are not limited to, statements regarding: (i) the Property Purchase Agreements and the respective closing thereof; and (ii) the Asset Purchase Agreement and the respective closing thereof. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors that may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, but are not limited to, the unsatisfactory due diligence review of the California Assets by the Buyer, the regulatory and legal framework of the United States cannabis industry, general market conditions and other factors beyond the control of the Company. Such forward-looking statements should therefore be construed in light of such factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
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