PALM BEACH, Florida, November 29, 2018 /PRNewswire/ --
As thecannabis market continues to evolve and experiencing a compounding rate of growth due to factors such as legalization, product advancements and rising consumer interest, cannabis companies are heavily investing in the expansion of operations. Through
CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF) BREAKING NEWS: CROP Infrastructure announced today it has signed a toll processing agreement with a manufacturing company that will produce oils, crumbles and distillates for sale in to the California market.
The raw material will be finished cannabis from CROP's Humboldt County farm where the cannabis is awaiting sale, being trimmed or drying. The farm is currently flowering 10,000 sqft of canopy for a late stage harvest and is working on the permitting for its 2019 expansion including a proposed 30,000 sq ft automated greenhouse facility.
In addition, a distribution agreement is now in place for the cannabis which will be sold under the company's Hempire brand for estimated gross revenue of approximately $1,600 per pound of flower. The farm has allocated 750lbs of inventory to be sold under the Hempire brand.
The distributor has offices in Oakland and Orange County. Their distribution network consists of approximately 350 licensed |cannabis stores across California.
CROP CEO, Michael Yorke, stated: "Progress is continuing on becoming fully vertically integrated with self-serving Emerald Heights retail application. Processing and distribution are key agreements in getting our product onto hundreds of potential retail shelves. CROP's core goal is maximizing its return on investment from tenant 2018 production, while preparing and building relationships for an exciting 2019." Read this full announcement and more news for CROP Infrastructure at:https://www.financialnewsmedia.com/news-crop/
Additional cannabis industry related developments from around the markets:
The Green Organic Dutchman Holdings Ltd. (TSX:TGOD.TO) (OTCQX:TGODF) recently announced a supply partnership with Velvet Management Inc. for sales and distribution to provincial liquor and cannabis boards across Canada. Velvet is a new company with distinct ownership created by the largest wine distributor in Canada, Philippe Dandurand Wines. TGOD is committed to best-in-class distribution for its premium, certified organic cannabis. Sales and relationships with provincial cannabis and liquor boards is a critical aspect to TGOD's success. Through the partnership with Velvet, TGOD has secured a strong entry point with every provincial liquor and cannabis board across Canada.
Namaste Technologies Inc. (TSX-V:N.V) (OTCQB:NXTTF) recently announced that its wholly-owned subsidiary, Cannmart Inc. ("Cannmart") has signed a Delivery Agreement (the "Agreement") to launch much-anticipated same-day delivery service in the Greater Toronto Area ("GTA") through Pineapple Express Delivery Inc. ("Pineapple Express") for its medical cannabis products. Effective immediately, Cannmart patients within the GTA area will have access to same-day, set-time, and rushed delivery services. The launch of same-day delivery within Cannmart's platform further supports the Company's vision to offer value to its patients in a medical cannabis online marketplace.
Neptune Wellness Solutions Inc. (NASDAQ:NEPT) (TSX:NEPT) recently announced On Thursday, December 6, 2018 , management will present at the LD Micro Main Event XI in Los Angeles, CA , at 9:00 a.m. PST and be available to meet with investors attending the conference that day. A webcast of the presentation session and a copy of the company's latest investor presentation will be available on the company's website at https://neptunecorp.com/en/investors/events-and-presentations/.
HEXO Corp. (TSX:HEXO.TO) (OTCPK:HYYDF) recently announced the closing of the acquisition of its interest in a large facility in Belleville, Ontario. This is the first facility that the Company has established outside of Quebec, further delivering on its national expansion strategy and allowing HEXO to create a centre of excellence for the development of advanced cannabis products. "Closing the transaction and acquiring our interest in this facility is integral to carrying out our hub and spoke business strategy," said Sebastien St-Louis, HEXO's CEO and co-founder. "The space can be scaled up based on our future needs and provides HEXO with the infrastructure it needs to continue partnering with Fortune 500 companies and to create category-winning cosmetics, edibles, vapes and more." The centralized location, conveniently located along primary shipping routes in Ontario, will allow HEXO to process and distribute cannabis-based products to fulfil its commitments across Canada.
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