PALM BEACH, Florida, March 12, 2019
FinancialNewsMedia.com News Commentary
PALM BEACH, Florida, March 12, 2019 /PRNewswire/ -- Cannabis growers are increasing revenues in a number of ways. They seek more acreage. They look for the better growing techniques. They look for better strains. They look for more production. After all, they are the first step in the sales chain that is projected for continued growth. It all starts with 'farms'. Forbes recently looked at this key sector saying: "The current "green rush" has brought with it an intense focus on large-scale cannabis cultivation. Across the United States and around the globe, we routinely hear stories of companies building larger and larger cannabis farms. In Arizona, Colorado, California, and Oregon, cannabis is being cultivated in greenhouses in excess of 250,000 sq. ft. that are capable of yielding more than 50,000 pounds of flower. While large-scale Canadian producers are building greenhouses in the millions of square feet and building similar-sized facilities in Europe, Australia, and elsewhere. In the United States, cultivation licenses are often viewed as the most valuable in the highly competitive application processes that most states use to determine who is allowed to cultivate and dispense in their states." Active companies in the cannabis industry includes: CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTC:CRXPF), The Supreme Cannabis Company, Inc. (OTC: SPRWF) (TSX: FIRE), Terra Tech Corp. (OTC: TRTC), The Green Organic Dutchman Holdings Ltd. (OTC: TGODF) (TSX: TGOD), Emerald Health Therapeutics, Inc. (OTC: EMHTF) (TSX-V: EMH).
Forbes continued: "Indeed, in states with limited cultivation licenses, those companies that hold them can see large returns on their investments in the near term. With artificially limited competition due to restricted license classes, cultivators in many states are able to control pricing and sell their product in large volume. Many of these cultivators grow their product in state-of-the-art indoor warehouses with clean-room environments that resemble pharmaceutical production facilities more than traditional commercial agriculture."
CROP INFRASTRUCTURE CORP. (CSE:CROP) (OTCPK:CRXPF) (Frankfurt: 2FR) BREAKING NEWS: CROP announced today that its Washington State tenant Wheeler Park ("The Park") has established a bulk cannabis customer relationship and its first 150 lbs of flower has been delivered at $400 per pound of its smaller flower and trim grown through the previous soil method.
The Park recently completed the final conversion to a 100% hydroponic facility and all the remaining soil medium material has been removed and all product has been sold. A perpetual harvest system is now being utilized with cannabis strains that have a 55-60 day flower cycle. The facility is designed to average 1,000 pounds per month.
Bulk sales compliment the tenant's ongoing sales strategy to establish itself as a premiere cannabis flower and extraction brand given the ongoing organic nature and high return THC level the company has seen in its lab testing. The company's Evolution Cannabis brand was recently featured on High Times' social media for its large bricks of THC honeycomb.
The strains included in the sale are Bubba Kush, Dutch Hawaiian, Ghost Train, Green Crack, Star Killer, WA Cookies and originating from the previous soil medium. Furthermore, the company has received additional tests results between 29%-31% THCA for its premium flower line that will be sold under the Evolution Cannabis brand.
Additionally, the 'Master Grower' has introduced new cloning and pruning regimes to promote healthier and more robust harvests. Also, a new growing medium is being tested for mother plants and clones that is showing promising growth pattern and more vigorous root development. This is expected to increase harvest yields and cloning viability.
CROP CEO, Michael Yorke, stated: "While testing results of our premium product continues to be outstanding, our tenant brand sales team is doing a fantastic job of using bulk sales to cover facility overhead and turn over older less desirable products. Perpetual harvest means the product is always fresh and maximizes throughput. The farm has the lowest cost power in North America at $0.02 per kWh, which is a huge advantage as it significantly reduces production costs." Read this full announcement and more news for CROP Infrastructure at: https://www.financialnewsmedia.com/news-crop/
Additional cannabis industry related developments from around the markets:
The Supreme Cannabis Company, Inc. (OTCQX: SPRWF) (TSX: FIRE.TO) On March 11, the company announced that it had signed a letter of intent ("LOI") with Malta Enterprises, the economic development agency of Malta.
The LOI is the first step of Supreme Cannabis' application for a Cannabis Production License (the "License") in Malta. Such License would allow the Company to produce and process cannabis for medical use within Malta, one of Europe's principal commercial entry points, and to export cannabis for medical use to certain international markets. If approved, Supreme Cannabis intends to produce products containing EU GMP quality cannabis oil and pursue regulated medical cannabis distribution opportunities in the European Union.
Terra Tech Corp. (OTCQX: TRTC) On March 4, the company, a vertically integrated cannabis-focused agriculture company, today announced that it had completed the renovation of its cultivation facility located on West Grand Avenue, Oakland, in California. One of the goals of the facility will be to research and develop various cultivation techniques to optimize efficiencies and crop yields. Planting of new crops is expected to commence later this week and all cannabis cultivated at the facility will be sold under the Company's premium IVXX™ brand to California's medical and adult-use markets.
The newly renovated facility features an upgraded power capacity to allow for more output and a larger vegetation room to support the cultivation of a greater variety of cannabis strains. The rooms are redesigned to incorporate better environmental controls, therefore improving the Company's ability to cool and dehumidify the rooms and minimize the risk of mold growth. The facility is equipped with a total of 112 high pressure sodium light bulbs (28 bulbs per room) capable of flowering 1,120 pounds of cannabis a year. It also has 18 LED flowering lights that allow for more efficient and environmentally sustainable cultivation. After perfecting the LED lights growing style, Terra Tech aims to convert the facility to 100% LED flowering lights.
The Green Organic Dutchman Holdings Ltd. (OTCQX: TGODF) (TSX: TGOD.TO) recently announced that it has entered into a multi-year extraction services contract with Valens GroWorks Corp. Valens is a licenced provider of cannabis products and services specializing in various proprietary extraction, distillation, cannabinoid isolation and purification technologies. Partnering with Valens will accelerate TGOD's Canadian hemp strategy and allow for early market entry of TGOD's organic hemp-derived CBD product lines within the coming months.
Under the terms of the initial 2-year agreement, Valens will process, extract and purify TGOD's cannabis and hemp biomass under conditions specified by TGOD as demanded by final product manufacturing and formulation requirements. TGOD will supply Valens with significant quantities of cannabis and hemp and Valens will provide extraction purification services processing the cannabis and hemp into premium quality resins and distillates. TGOD intends to use the concentrated cannabinoid resins and distillates to produce oils, sprays and capsules as well as oils for vaporization and future edible, beverage and topical products.
Emerald Health Therapeutics, Inc. (OTCQX: EMHTF) (TSX-V: EMH) recently announced that its 50%-owned joint venture for large-scale, low-cost, high-quality cannabis production, Pure Sunfarms Corp. ("Pure Sunfarms"), received from Health Canada its seventh amendment to its cultivation license for its 1.1 million square foot greenhouse in Delta, BC. The additional approximately 206,000 square feet of growing area in the fourth and final quadrant of the greenhouse brings Pure Sunfarms' total licensed cannabis production area to approximately 1.03 million sq. ft. in 16 grow rooms. The newly licensed area is expected to be fully planted by the end of March.
"Pure Sunfarms is now licensed across all its growing areas and we congratulate their team for this significant accomplishment," said Dr. Avtar Dhillon, President and Executive Chairman of Emerald. "With Emerald's 50% stake in one of the largest fully operational cannabis production facilities in the world, we expect to realize significant economic value from Pure Sunfarms. We expect our supply agreement with Pure Sunfarms for 40% of its 2019 production, along with our Quebec and hemp operations, to support strong quarter to quarter sales growth this year."
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