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Monday, April 19, 2021

The Exciting Rise of Crop Infrastructure Corp (OTCMKTS: CRXPF)

Crop Infrastructure Corp (OTCMKTS: CRXPF) has been making a huge move up in recent days exploding up the charts and transforming into a volume leader.

Crop Infrastructure is quickly making a name for itself in the booming cannabis space responsible for many, many huge recent winners. The sector is on fire as we near legal recreational cannabis in Canada on October 17. According to a recent report from Deloitte provided to The Toronto Star recreational cannabis in Canada could be a $22.6 billion industry.

Crop Infrastructure Corp (CSE: CROP) (OTC: CRXPF) 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 cultivation properties in California and Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications.  CROP has developed a portfolio of assets including Canna Drink a cannabis infused functional beverage, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands.

CROP’s portfolio currently consists of 176,000 square feet covered or under construction, with an additional 134,000 square feet scheduled, and interests in over 325 acres of outdoor production, and has built the blueprint and framework for continued expansion in 2018.

The company’s Wheeler Park facility, referred to as ‘The Park,’ is a state-of-the-art facility with a 35,000 square foot greenhouse designed to yield 12,000 lbs of cannabis annually once fully operational.

Earlier this year Crops Nevada subsidiary leased an additional 750 acres of contiguous agricultural farmland bringing the total Nevada acreage to 1,065 acres with 240 acres under pivot. 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 announced 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.

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The Park cannabis greenhouse is 35,000 square feet 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.

The Company is planning to launch its first line of Hemp oil infused cosmetic and therapeutic products under the brand “URBAN JUVE”, pursuant to its previously announced License Agreement with The Yield Growth Corp.’s subsidiary, Urban Juve Provisions Inc.Agreement gives CROP exclusive rights in Italy to the URBAN JUVE products, as well as non-exclusive distribution rights in the United States.

Furthermore, the Company in partnership with the team from Xhemplar S.R.L. CROP’s cultivation and extraction joint venture partner in Italy, is scouting locations to open 2 CBD retail outlets in Northern Italy under the company’s Emerald Heights brand, before the end of 2018.

Crop recently completed the member interest purchase agreement with Elite Ventures LLC, of Nevada, to acquire a 49% member interest in the Nye County agricultural property. The property totals over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.

The previously announced 240 acres of CBD Hemp has been planted and is currently 2.5-3 feet tall and growing under pivot with the resulting harvest expected within 45 days. A recent plant count suggests 3,000 healthy plants per acre or 720,000 plants under pivot. All harvesting equipment has been secured for the resulting hemp biomass. The cost of production was not expected to exceed $700,000, with $350,000 incurred to date, and no more than $200,000 in additional costs expected to prepare our tenant for this harvest.

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Currently trading at a $38 million market valuation Crop has $1.1 million in the treasury and $6.1 million in debt. Crop Infrastructure is a really exciting Company; CROP’s portfolio consists of 176,000 square feet covered or under construction, with an additional 134,000 square feet scheduled, and interests in over 325 acres of outdoor production, and has built the blueprint and framework for a continued expansion in 2018. The Company has harvests now underway in California and Washington. The Company expects four of its six tenant licensees to harvest at its farms, with each set to begin cash flowing in Q4 2018. We will be updating on Crop when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Crop.

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Disclosure: we hold no position in Crop either long or short and we have not been compensated for this article.

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