VANCOUVER, British Columbia, April 3, 2019 /CNW/ -- CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) has been advised by its tenant brand sales team that the Hempire and Evolution brands are now available in 40 retail locations, mostly along the coastal cities of Washington.
The flower is available in eight different strains across seven sizes with concentrates being made available in five different concentrates across 20 separate strains giving the retail locations over 100 SKUS to offer their consumers.
The Washington market for 2018, according to Statista.com, was a $534.06 Million market with RBC Capital Markets analyst Nik Modi writing: 'The legal cannabis category [in the U.S.] is set to grow at a 17% CAGR over the next decade to as much as $47 billion in annual sales.'
Crop's tenanted Washington facility has a major advantage with low cost electricity at $0.02 per kWh and greenhouse style growing, making it one of the most efficient growing operations available in the state of Washington for high quality product.
CROP CEO, Michael Yorke, stated: "Our tenant growing team and their sales team have made outstanding progress with product placement in 40 retail locations for both flower, oils and extracts. We continue to build out our brands in California and Nevada and our objective is, ultimately, to be in as many states as possible."
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.
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 Washington Project; the technological effects of Washington 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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SOURCE Crop Infrastructure Corp.