PALM BEACH, Florida, August 28, 2018 /PRNewswire/ --
MarketNewsUpdates.com News Commentary
Theglobal cannabis industry continues to surpass all expectations relating to growth as leaders in the industry expand into new markets behind increased consumer enthusiasm, as well as reduced barriers to entry behind advanced legalization efforts. The
CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF)) BREAKING NEWS: CROP Infrastructure announced today that its tenant has now commenced commercial production at Wheeler Park. The facility is designed for perpetual harvest of cannabis at 'The Park', its state-of-the-art facility in Washington State. Crop's licensed tenant grower has now advised the Company that it expects its first harvest of cannabis within weeks and it will be at full scale production in September 2018. The perpetual harvest system utilizes cannabis strains with a 55-60 day flower cycle. Every other day the tenant grower removes three trays of flowered plants from the finishing end and harvests the plants, while simultaneously loading three new trays with plants to begin the flowering process.
The Park cannabis greenhouse is 35,000 sq/ft and sits on approximately nine acres of land. The facility recently underwent a complete retro-fit for hydroponic automation and the addition of 500 Gavita HPS grow lights. The greenhouse facility has five flowering bays that are designed to yield, at full scale production, approximately 12,000 pounds of high quality cannabis annually (~1,000 pounds per month). The current operating cost is $50,000 USD per month.
CROP Infrastructure Director and CEO, Michael Yorke, stated: "With harvests now underway in California along with our Washington tenant weeks away from its first harvest, the Company is now at a turning point. The Company expects four of its six tenant licensees to harvest at its farms, with each set to begin cash flowing in Q4 2018." 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:
India Globalization Capital Inc. (NYSE:IGC) recently announced it has designated California as a priority market for Hyalolex, its lead cannabis-based supplement for treating and managing Alzheimer's patients. "The cannabis market is showing explosive growth and we are aggressively moving forward with our vision of owning and marketing the leading brands for large medical indications such as Alzheimer's, Parkinson's, PTSD, pain, veterinary medicine and cancer. With 8 patents filed, IGC has made significant strides towards achieving these goals and building value for our shareholders as a NYSE American listed company," stated Ram Mukunda, CEO of IGC. "California is considered to be the largest addressable U.S. market for cannabis with an environment that strongly embraces its acceptance. This represents a significant opportunity for Hyalolex and our brands, as such we are currently coordinating the necessary steps to efficiently and rapidly introduce our product to high-density regions in the state. It should be noted that according to U.S. Census data, California has an estimated population of 39.54 million and that total is larger than all of Canada," continued Mukunda.
Cronos Group Inc. (TSX:CRON.TO) (NASDAQ:CRON) recently announced its initial supply agreements for retail distribution, both government-operated and private, across Canada for the upcoming launch of the recreational market in October 2018. Cronos Group has secured listings and signed binding master supply agreements with both the Ontario Cannabis Retail Corporation and the BC Liquor Distribution Branch. In combination, these provinces encompass over 50% of the Canadian population and hence the potential customer base which the Company is prepared to serve. The Company has also secured listings and has accepted supplier terms with the Nova Scotia Liquor Corporation and Prince Edward Island Liquor Corporation. Cronos Group will be offering Dried Flower, Pre-Rolls and its highly rated Oils through both government-operated retail stores and online platforms across its three recreational brands.
MYM Nutraceuticals Inc. (CSE:MYM.CN) (OTCQB:MYMMF) recently announced it has entered into a partnership with the University of Sherbrooke to study the medicinal and industrial uses of cannabis and hemp. Researchers at the University of Sherbrooke will work with an on-site coordinator to create partnerships by targeting expertise in various faculties and training centres. During cannabis prohibition, research on its compounds and by-products remained very limited. This partnership aims to explore the benefits of the cannabis plant. "Université de Sherbrooke groups together a broad set of skills in relation to the opportunities associated with cannabis," said Vincent Aimez, Vice-President, Commercialization and Partnerships, University of Sherbrooke. "MYM's contribution will help actively explore multiple research projects. This is a completely new and highly promising multidisciplinary partnership we wish to nurture and grow in the coming years." Avenues of collaboration range from identifying the best alternative energy systems in greenhouses to the effects of cannabinoids on the nervous and immune systems. Research will also include: industrial materials manufacturing, eco materials, hemp fiber biofuels and opportunities created from the by-products of cannabis production.
Canopy Growth Corporation (TSX:WEED.TO) (NYSE:CGC) recently that it has received amended licences from Health Canada that increase the size and sophistication of its national footprint. The amended licences include a nearly doubling of growing capacity at its Smiths Falls Campus at 1 Hershey Drive, an additional 223,200 sq. ft. of cultivation space at its majority-owned Les Serres Vert Cannabis Inc. ("Vert Mirabel") greenhouse in Mirabel, Quebec , and a licence for a highly automated, state-of-the-art Distribution Centre located at its Smiths Falls campus. Increased production capacity at the Smiths Falls and Mirabel sites will increase Canopy's ability to reach consumers in every market once recreational sales are permitted in October 2018 . In Smiths Falls , the specific licensed rooms will also become part of a new Tweed Visitor Centre experience that launched August 25, 2018..
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