Innovation in Cultivation Services & Operations Management Generating Big Revenues in Booming Cannabis Industry
PALM BEACH, Florida, November 7, 2018 /PRNewswire/ --
FinancialNewsMedia.com News Commentary
The cannabis sector is currently riding a notable high as legalization continues to sweep the globe, with Canada becoming the most recent and largest country to date to legalize the substance for recreational use. As the industry has emerged as a unit capable of generating annual revenues in the billions, there have been a number of indirect effects and opportunities for businesses and investors alike. One of those is the operations side of the industry, as leaders need enhanced operations in order to maintain and increase the needed level of production to meet the rising consumer demand. By leveraging advanced cultivation services, leaders in the industry are able to focus on growing their business while their operations continue to improve seamlessly behind the scenes. Another appealing factor of this niche is the job creation associated with expanding grow services and operations, as the industry will add thousands of jobs over the next few years. As the cannabis market continues its rapid ascent into the multi-billion dollar stratosphere, the number of opportunities and spinoffs from the sector is most definitely expected to ascend as well. Active cannabis stocks in the markets today include: CROP Infrastructure Corp. (CSE:CROP) (OTC:CRXPF), Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB), The Supreme Cannabis Company Inc. (OTC:SPRWF) (TSX-V:FIRE), Isodiol International Inc. (OTC:ISOLF) (CSE:ISOL), Namaste Technologies Inc. (TSX-V:N) (OTC:NXTTF).
CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF) BREAKING NEWS: CROP Infrastructure announced today that it is working towards complete vertical integration in California. Processing continues unchecked at Humboldt Farm and new automation equipment has arrived to increase efficiencies and continually increase return on investment (ROI) of finished inventory.
Additionally, CROP's Emerald Heights retail brand has just completed the stage three interview process with the City of San Bernardino which is a major hurdle before the final licensing review to open its first California retail location. CROP is currently going through the process of opening two Emerald Heights locations in Italy, one in Nevada and one at the aforementioned location in California.
The company's tenant is currently accepting and reviewing bids from distributors to represent the company's production under its Hempire, Evolution and White Rhino brands. The tenant has also applied for its own distribution license to represent its own production and the production of other complimentary producers in the region which will result in another license in the growing portfolio of tenant licensees.
CROP has also been notified that the tenants are preparing an extraction license application for Humboldt Farm which will maximize the ROI and broaden the range of Stock Keeping Units ('SKUs') available to retail locations.
CROP has submitted its building plans to the Humboldt County Building and Planning Department to increase the production of the California facility at a cost of $1,000,000 of which $250,000 has already been spent. The increased production will result in an additional ~12,000 pounds of high-quality cannabis and 3,000 pounds of secondary material per year.
CROP Infrastructure CEO, Michael Yorke, stated: "The significance of fully vertically integrating cannot be understated and we are working towards that end as rapidly
as is practicable. As with CROP's worldwide tenant strategy, production is always focused on high quality at low cost. With extraction and retail verticals now in process, the opportunity to
maximize ROI on a significant scale presents the opportunity to control CROP's tenant destiny and maximize future profits." Read this full announcement and more news for
CROP Infrastructure at: http://www.financialnewsmedia.com/news-crop/
Additional cannabis industry related developments from around the markets:
Aurora Cannabis Inc. (NYSE:ACB) (TSX:ACB) Choom Holdings Inc. ("Choom") (CSE: CHOO; OTCQB: CHOOF) recently announced they have completed a non-brokered private placement of a debenture (the "Offering") in the principal amount of $20,000,000 in Choom by Aurora, convertible into common shares of Choom ("Common Shares") at a conversion price of $1.25 per Common Share, with a four year maturity date. Aurora has also secured the right to acquire up to 40% of the Company at $2.75 per Common Share. Choom is currently developing a network of retail stores which will feature a curated selection of products from various licensed producers with a strong focus on elevated customer experiences. Choom has secured the rights to 45 retail opportunities across Western Canada, rapidly expanding its commercial presence in highly strategic locations. This includes a total of 45 applications submitted, with 27 development permits and 18 building permits received from the various municipalities. In all cases the retail opportunities are subject to the necessary provincial and municipal government approvals.
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