VANCOUVER, British Columbia, June 21, 2019 (GLOBE NEWSWIRE) -- CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTC: CRXPF) (2FR.F) announced today that its Emerald Heights retail brand has secured a provisional licence for a retail, delivery, and smoking lounge in Cathedral City, California, to vertically integrate its California brands.
CROP has also retained a local real estate broker to find suitable locations to set up its Emerald Heights flagship location. A $30,000 USD deposit has been placed and the balance of $220,000 USD will be paid on final transfer of ownership of the license. CROP’s subsidiary will be able to run delivery routes in the Bay Area, Coachella Valley, and is currently seeking a Southern California distribution partner.
CROP’s California extraction partner has run the first batch of material for extraction from the 2018 harvest into THC distillate oil, this first run will be used to fill 30,000 vape cartridges and combined with inventoried flower prepare 200,000 Moonrock Cones. Additional inventoried organic flower will produce ~100,000 pre rolled joints. These products are intended to be sold in the first Emerald Heights store and have a total wholesale value of $2,860,000 USD if sold through the company’s distribution company and partners and if sold at the Emerald Heights location a total retail value of over $6,000,000 USD.
CROP CEO, Michael Yorke, stated: “Emerald Heights’ entry into retail markets in California will be highly beneficial for CROP. We and our partners are working diligently to achieve as much value through the supply chain as possible for stakeholders.”
About Emerald Heights
Emerald Heights brand is focused on the so-called Emerald Triangle cannabis growing area and is a true California brand offering a heightened retail experience for adult customers of all ages. Emerald Heights aims to provide only the highest quality, state-compliant, organically sourced products in a safe and professional environment. Emerald Heights pays particular care to customer relations with its knowledgeable staff.
CROP is publicly listed company trading under symbol CROP.CSE. The company is focused on cannabis branding and real estate assets. CROP’s portfolio of projects includes cultivation properties in California, two in Washington State, a 1,000-acre Nevada cannabis farm, 2,115 acres of Hemp CBD farms, and a growing portfolio of common share equity in upcoming listings within the cannabis space.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line and 16 Cannabis brands.
Michael Yorke – CEO and Director
Phone: (604) 484-4206
Disclaimer for Forward-Looking Information
Certain statements in this press release are 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 returns from the Nevada Project; the technological effects of Nevada Project; 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.
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