PALM BEACH, Florida, September 26, 2018 /PRNewswire/ --
Marketnewsupdates.com News Commentary
TheCannabis industry continues its eccentric growth as it becomes one of the more powerful and influential markets in the global economy. Leaders in the space are rapidly expanding operations on the heels of increased investment from both private and public
CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF) BREAKING NEWS: CROP Infrastructure announces that its subsidiary Elite Ventures Group LLC has signed a joint venture agreement with The Hempire LLC of Nevada (the "Tenant") to purchase a 100% interest in an 1,000 acre Esmeralda County agricultural cannabis project tenanted with a suite of cannabis licenses including medical cultivation, medical production and with adult use recreational cultivation & production conditional licenses as well as an option to acquire a retail dispensary application assigned to a strategic location on highway 95 on route to Las Vegas. CROP has agreed to loan up to $4,250,000 USD over a period of the next 6 months to acquire 100% of the initial 10 acres of real estate and associated infrastructure with the additional 1,000 acres being paid for at a cost of $4,500,000 over a 20-year amortization period at 6% interest with a 3-year balloon payment. CROP will receive preferential payback on the project at a rate of 60% of the net profits from Elite.
Esmerelda County is one of the only jurisdictions in Nevada where climate and zoning allows for greenhouse or outdoor growing. This will be significant for our tenant growers and brand licensee to be able to provide high quality product on a large scale at the lowest cost possible, keeping with CROP's strategy.
The initial set up costs of outdoor 80-acre operation will be approximately $1,200,000 and should yield tenants 160,000 pounds of outdoor cannabis for extraction and edibles and a 44,000 square foot light supplemented greenhouse facility at a cost of $2.0 Million. The greenhouse facility should yield tenants 24,000 pounds of high quality flower per year with an additional 25% for extraction and edibles. The project can be expanded up to 300 acres of combined greenhouse and outdoor cultivation. 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:
Aurora Cannabis Inc. (TSX:ACB.TO) (OTCQB:ACBFF) recently announced it has partnered with Elevate, Canada's Tech Week, to present a stand-out roster of panel discussions and interactive sessions with innovators and pioneers in the cannabis industry. As a gold partner of Elevate, Canada's largest tech and innovation festival, Aurora has been instrumental in shaping the Elevate Cannabis and Elevate Health tracks that will feature leading experts in research, medicine, finance and entrepreneurship in the cannabis industry. "We are thrilled to partner with Elevate this year. This conference is about showcasing Canada as a leader in technology as well as demonstrating a diverse and inclusive society. This is precisely what Aurora stands for - innovation, community, culture," says Paula Whitmore , Director, Partnerships and Events, Aurora. "The line-up of speakers and topics demonstrates our desire to work with different industries to develop innovative solutions and products in the recreational and medical environments."
Canopy Growth Corporation (TSX:WEED.TO) (NYSE:CGC) News: Organigram Holdings Inc. (TSXV:OGI.V) (OTCQB:OGRMF), the parent company of Organigram Inc. and Canopy Growth Corporation, leading licensed producers of cannabis recently announced that following Organigram's approval as a cannabis supplier in the Province of Newfoundland and Labrador, the Companies have signed a two-year supply and distribution agreement. Organigram will become a key supplier of branded, finished cannabis products to Canopy Growth's Tweed-branded retail operations in Newfoundland and Labrador once adult recreational cannabis is legalized in Canada on October 17 th, 2018. Canopy Growth will also perform a B2B sales function for Organigram by marketing its portfolio to other licensed retail outlets in Newfoundland and Labrador.
Liberty Health Sciences Inc. (CSE:LHS.CN) (OTCQX:LHSIF) recently announced it has entered an exclusive partnership with AdaViv Inc., a hardware-enabled, predictive agriculture company, to improve production of cannabis at its Liberty Health Sciences 360 Innovation Campus in Gainesville, FL. AdaViv will integrate its adaptive Computer Vision software and Machine Learning platform into Liberty's 360 Innovation Campus and, together, will look to push the state-of-the-art in greenhouse technology and precision growing to new levels of productivity and efficiency. AdaViv's technology enables 24/7 plant-level inspection as well as AI computer vision to uncover hidden plant biometrics that translates data into actionable insights for growers like Liberty. Founded by an interdisciplinary team of MIT researchers and alumni, AdaViv is led by Dr. Ian Seiferling (CEO), Julian Ortiz (COO, MBA MIT Sloan '19) and Dr. Thomas Matarazzo (CTO). AdaViv emerged from MIT Delta V, the capstone entrepreneurship accelerator at MIT, and the MIT DesignX accelerator. In 2018, AdaViv was selected as one of the first grantees of Microsoft AI for Earth.
Terra Tech Corp. (OTCQX: TRTC) earlier this week announced that the City of Santa Ana has granted its East Dyer Road, East Carnegie Avenue and South Tech Center Drive locations vertically-integrated Phase I permits. These permits allow the Company to commence development of cultivation, manufacturing and distribution capabilities at these locations. Moreover, upon completion of the build-out of each location's facilities, they also confer upon the Company the right to apply for Phase II permits which are needed to commence commercial activities. The Company is expanding its presence in Southern California as the state's cannabis market continues its transformation from a black market economy into a multibillion-dollar, regulated market. By opening several locations across Santa Ana, each of which will benefit from vertical integration and will house the Company's recognizable 'Blüm' dispensary brand, the Company is positioning itself as a major supplier of medical and adult-use cannabis to all the surrounding cities, such as Irvine, Laguna Beach and Newport Beach, all of which currently suffer from a scarcity of existing cannabis dispensaries. When completed, the Company's expanded cultivation and extraction capabilities will allow it to ramp production of its proprietary IVXX™ cannabis products, which are grown and harvested under the safest and most beneficial conditions. All IVXX products are thoughtfully produced, rigorously tested and certified to the highest standards of potency and purity for sale at the Company's proprietary Blüm dispensaries as well as at third party dispensaries..
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