PALM BEACH, Florida, August 22, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Ina very hot and getting hotter industry, to say that legalized marijuana and cannabis is a big deal would be quite a big understatement. Several cannabis stocks in Canada alone saw a slight lift this week after the Ontario
CROP Infrastructure Corp. (CSE: CROP) (OTCPK: CRXPF)) BREAKING NEWS: CROP Infrastructure announced today its Nevada subsidiary has leased an additional 750 acres of contiguous agricultural farmland bringing the total Nevada acreage to 1,065 acres with 240 acres under pivot.
The lease also provides access to over 300 acres of additional water rights. The additional 750 acres of pivot development potential will substantially increase production for the 2019 season.
The newly-leased acreage comes with four housing units and a building to be converted into an extraction facility to process hemp biomass for CBD isolate on site. The two-year lease will annually cost $566 USD per acre and the company intends to use a portion of the revenue from its first crop to pay for the lease.
The previously announced 240 acres of CBD Hemp was planted and is currently 1.5 feet tall and growing under pivot. All harvesting equipment has been secured for the resulting hemp biomass. It is estimated that the 240 acre pivots will yield 240,000 pounds of hemp flower. The cost of production is not expected to exceed $700,000 USD with many of the costs already incurred. The first harvest is expected in early Q4 this year.
CROP Infrastructure Director and CEO, Michael Yorke stated: "As previously announced in July, our Nevada Hemp farm and licensed tenant became the largest hemp farmer in Nevada in 2018. We are confident with over 1,000 acres that our tenant will remain the largest hemp farm in Nevada. Read this full announcement and more news for CROP Infrastructure at: http://www.marketnewsupdates.com/news/crop.html Additional cannabis industry related developments from around the markets:
Tilray Inc. (NASDAQ: TLRY), a global pioneer in medical cannabis production and distribution, recently announced that a study featuring Tilray 2:100, a medical cannabis oil containing high amounts of cannabidiol (CBD) and conservative amounts of tetrahydrocannabinol (THC), has shown promising results for children with drug-resistant epilepsy (DRE) due to Dravet Syndrome. The findings of the Phase II trial, which was designed and conducted by researchers at The Hospital for Sick Children in Toronto (SickKids), were published today in the peer-reviewed medical journal Annals of Clinical and Translational Neurology.
Aurora Cannabis Inc. (OTCQX: ACBFF) (TSX: ACB.TO) will spin off its subsidiary, Australis Capital Inc., pursuant to a distribution as a return of capital. According to the TSX, the Canadian shareholders of the company will receive one unit of Australis for every 34 shares of Aurora held, with each unit consisting of one share and one warrant of Australis. Each warrant will entitle the holder to acquire one Australis share at 25 cents per share before 4 p.m. Eastern Time on the date that is one year from the date of the distribution. Non-resident shareholders will be entitled to a cash payment net of any applicable withholding taxes following a sale of their respective units in the open market by an independent custodian following the distribution. The TSX reports that the record date for the distribution is Aug. 24, 2018, and the ex distribution date is Aug. 23, 2018. The certificates or direct registration advices representing the Australis shares and warrants will be provided to Aurora shareholders on or about Sept. 13, 2018.
Aphria Inc. (OTCQB: APHQF) (TSX: APH.TO) has entered in a supply agreement with the Ontario Cannabis Store (OCS) to provide high-quality, branded cannabis products for sale on-line in Ontario's adult-use market. Adult-use consumers will have an extensive selection Ontario- and British Columbia-grown cannabis from across the company's portfolio of adult-use brands. "We are thrilled that the OCS has selected such an extensive range of adult-use products from our carefully curated and thoughtfully developed portfolio of brands," said Jakob Ripshtein, chief commercial officer at Aphria. "Adult-use consumers will have the opportunity to discover our brands through OCS's on-line platform starting on Oct. 17, including Solei, sustainably grown in Ontario; our premium B.C. bud from Broken Coast; and several other Ontario-grown brands soon to be revealed. Each of our brands have been carefully developed to meet the needs and interests of distinct consumer segments.
The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX: TGOD.TO) has signed a definitive agreement to acquire 100 per cent of the issued and outstanding shares of privately held HemPoland in an immediately accretive cash and share transaction. Acquisition cost of $7.75-million (U.S.) in cash and 1,968,323 restricted Green Organic Dutchman shares currently worth $7.75-million (U.S.) (about $20.4-million combined) with an additional $10.3-million (U.S.) ($13.5-million) cash investment for rapid European expansion. Additional performance based incentives of up to $12-million (U.S.) ($15.8-million) for delivery of $32-million (U.S.) ($42.1-million) of earnings before interest, taxes, depreciation and amortization in fiscal 2021.
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