CROP’s Nevada tenant receives go-ahead for 2019 hemp production and extraction licences

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CROP Infrastructure Corporation’s 49 percent-owned subsidiary, Elite Ventures, reports that its Nevada tenant, Hempire, has been issued 2019 hemp handler, hemp nursery and hemp grower licences.

The licences cover 1,350 irrigated acres (546 hectares) on its 2,115 acres (856 hectares) of owned or leased CBD-focused lands, notes a press release from Vancouver-based CROP, which is publicly listed on the Canadian Securities Exchange and is focused on cannabis branding and real estate assets.

Application for the hemp grower, nursery and handler—defined as a person who is registered by the licensing department to receive industrial hemp for processing into commodities, products or agricultural hemp seed—licences was done in anticipation of the company’s “lab extracting and producing CBD isolate with a throughput capacity of one ton per day of raw biomass,” the statement explains.

Acreage size covered by the hemp licences increased from 240 acres (97 hectares) of cultivation in 2018 to 1,350 acres (546 hectares) of irrigated cultivation for 2019. Additionally, 50,000 sq. ft. of greenhouses is being erected to complement the plant starts coming out of the recently completed genetics laboratory, the press release states.

“With the increased size and operating range of our tenant’s licences, CROP’s Nevada CBD operations are emerging into a truly world-class operation,” comments CROP CEO Michael Yorke. “Our land holdings, micropropagation team, strategies, drying and extraction capabilities and supply agreements will enable us to operate from seeds to isolate to sales in 2019,” Yorke adds.

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