Coquitlam, British Columbia--(Newsfile Corp. - September 30, 2020) - Captiva Verde Land Corp. (CSE: PWR) (the "Company"), is pleased to announce that Solargram Farms Corporation ("Solargram"), a holder of a Federal Health Canada License to cultivate, test, harvest and sell cannabis, has initiated its first large scale cannabis farm harvest. This harvest will rank as one of Canada's largest single outdoor legal cannabis crops in Canadian history.
Under this Health Canada License, Solargram is authorized at its site location to conduct the activities listed below:
From its indoor-area special purpose, state-of-the art Greenhouse facility: cultivation, propagating, testing, harvesting, and selling cannabis.
From its custom designed, massive outdoor farm grow area: cultivation, propagation, and harvesting cannabis.
Large Scale Outdoor Harvest Has Started
Our harvest began on September 17th. Over the last fourteen weeks, our dedicated, hard-working and amazingly focused team meticulously planted, grew and manicured approximately 13,000 cannabis plants over 25 acres into large, beautiful, healthy, robust cannabis plants. Over the next three weeks, the Solargram harvest team will finish what it started, bringing our grow season to conclusion, allowing the company to prepare high quality, milled product that will be sent to our planned third party extraction partner destined for our planned sale of cannabis products for retail distribution expected in late 2020.
The Vice President of Captiva Verde and Solargram Farms Len Wood states: "We have achieved another significant corporate milestone. To have achieved this level of quality outdoor cannabis crop in 2020, given Covid-19 pandemic conditions, is truly a testament to our team's commitment to quality and to our business vision and mission. Over the last three months, through ideal summer conditions, our team has successfully achieved growing and producing a high-quality bumper cannabis crop that has exceeded all expectations."
Captiva Verde is a financially debt-free company that has obtained, built and developed extensive infrastructure assets, together with an experienced operational team. Solargram successfully runs and operates its large scale cannabis outdoor grow farm at a planned budgeted ultra-low sub $0.25 production grow cost per gram. This is a major market disruptor and differentiator and will allow Solargram to sell its planned high cannabinoid full spectrum cannabis and distillate oil products at prices that are significantly below its competitor's cost of production. This competitive advantage will allow our company to become a leader in this market.
We wish to thank all of our loyal stakeholders that have continued to support our vision while understanding our mission to create a unique Canadian Licensed Producer cannabis market leader that will show and demonstrate the business model required to produce sustainable positive annual cash flow profits, while providing enhanced returns for our shareholders."
Solargram has a five-year planned outdoor grow production capacity in excess of 130 farm acres at the Renauds Mills New Brunswick outdoor grow site, representing over 65,000 kg of dried cannabis targeted for end-products containing full spectrum and distillate cannabis oil (THC, THCV, CBD, CBG, CBD-THC) concentrates for domestic and export markets which includes planned best-in-class, unique cannabis and edible products. Follow us on Instagram at https://www.instagram.com/captiva_verde_corp
100% of the Solargram ownership shares are held in an escrow account to be transferred to Captiva Verde in exchange for 35 Million Captiva Verde shares subject to a tightly controlled pooling agreement, and further subject to Health Canada approving an in-process security application by all of the Captiva Verde Officers and Directors to pass a security clearance and CSE approval.
On Behalf of the Board of Directors
Chief Executive Officer and Director
Cell: (949) 903-5906
Cautionary Note Regarding Forward-Looking Information
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
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