VANCOUVER, British Columbia, Feb.12, 2019 /PRNewswire/ -- CROP INFRASTRUCTURE CORP. (CROP.CN) (CRXPF) (Frankfurt: 2FR) announced today it has received confirmation that its San Bernardino retail cannabis business application has now advanced to stage four of the application review process.
As previously announced on July 5th 2018, CROP agreed to finance the purchase of real estate upon the granting of a California dispensary license. The proposed dispensaries will operate under the brand "Emerald Heights".
CROP and its partners will attend a special mayor and city council meeting to make a three minute presentation followed by a question and answer session. Subject to a successful outcome, Emerald Heights will be licensed to open its San Bernardino retail location on the city's busiest intersection next to the fairgrounds which has ample parking for customers.
CROP CEO, Michael Yorke, stated: "CROP has high expectations for Emerald Heights at this location. The team has done its market and location research very well and are now in the final phase of the application process in San Bernardino. We believe the community will enjoy the opportunity to share an elevated adult retail experience that the Emerald Heights brand will provide."
Crop is publicly listed on the CSE and trades under the symbol "CROP". CROP 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, 1,865 acres of CBD farms, extraction in Nevada and joint ventures on West Hollywood and San Bernardino dispensary apps with international focuses in Jamaica and Italy.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line, US and Italian distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands. CROP's infrastructure has over 150,000 sq ft of built canopy and over 2,900 acres of real estate.
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 California Project; the technological effects of California 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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Michael Yorke – CEO and Director