CROP Partners on San Bernardino and West Hollywood, California Dispensary Applications: Emerald Heights
July 5, 2018 MJ Shareholders
VANCOUVER, British Columbia, July 05, 2018 (GLOBE NEWSWIRE) — CROP Infrastructure Corp.(CSE:CROP) (OTC:CRXPF) (“CROP” or the “Company”) announces today it has entered into an agreement with Ocean Green Management LLC of California, to partner on multiple applications for Cannabis Retail locations with the option to purchase the commercial real estate. The Company has agreed to finance the purchase of real estate on the grant of a license. The dispensaries will operate under the brand: Emerald Heights.
Combined with the company’s ‘Emerald Triangle’ cannabis production facility currently tenanted by Hempire, these dispensaries would enable CROP tenants to vertically integrate themselves to maximize return on investment. Both location applications have been designed using professional designers and branding agencies to the requirements of the state. The company’s production facility currently consists of a 10,000 square foot medicinal cannabis greenhouse facility and an additional 20,000 square feet of recreational licensed canopy.
According to a report from BDS Analytics, sales of cannabis in California is expected to hit $3.7 Billion in 2018 alone with that number expected to grow to $5.1 Billion in 2019 as more dispensaries come online.
CROP Infrastructure Director & CEO, Michael Yorke, states: “CROP’s goal is to be a vertically integrated company and to have investment exposure in all levels of the supply chain. We look forward to partnership with Ocean Green and will continue on working on our application with an objective of having retail locations for our tenant brands in California as well as other states and countries where CROP is present.”
CROP Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol “CROP”. CROP is engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company’s portfolio of projects includes facilities in California, Nevada, 2 in Washington State and Italy.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities issuable thereunder and the Transaction are forward-looking statements and are prospective in nature. Forward-looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking statements. In addition, marijuana remains a Schedule I drug under the United States Controlled Substances Act of 1970. Although Congress has prohibited the US Justice Department from spending federal funds to interfere with the implementation of state medical marijuana laws, this prohibition must be renewed each year to remain in effect.These statements generally can be identified by the use of forward-looking words such as “may”, “should”, “could”, “intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking statements in this news release include statements regarding the expected yield from Emerald Heights; the technological effects of Emerald Heights on production; the intention to expand its portfolio; and execute on its business plan. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding the regulatory and legal framework regarding the cannabis industry in general among all levels of government and zoning; risks associated with applicable securities laws and stock exchange rules relating to the cannabis industry; risks associated with maintaining its interests in its various assets; the ability of the Company to finance operations and execute its business plan 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 statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press release.
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