VANCOUVER, British Columbia,
May 2, 2019 /CNW/ -- CROP
Infrastructure Corp. (CSE: CROP) (CSE: CROP.CN) (OTC: CRXPF)
(Frankfurt: 2FR) announced
today that its first Oklahoma
farm's tenant, Hempire Oklahoma has been issued Medical Cannabis
Cultivation and processing licenses at its 1 acre location in
Purcell, Oklahoma where the
company will focus on high grade flower and extraction. This is a
separate location to the company's 20-acre property that is
currently being readied for tenant planting for the 2019
season.
CROP continues to review several existing retail locations
to acquire, as well identifying new locations that would be
suitable for retail that the company would prepare applications for
potential licensed tenants. The company believes with its
experience and organic CROP SAFE methodology that it could disrupt
the Oklahoma market by providing
tenants with the means to produce lower cost high, yet higher
quality products.
CROP has agreed to fund up to $500,000
USD for the initial start-up of capital for the
multiple cultivation and retail locations.
CROP CEO, Michael
Yorke, stated: "Oklahoma is a key part of our overall strategy
of siting operations on prime land in different, but suitable
geographic locations within the US to introduce our tenants, brand
portfolio and brand partners to new markets."
About CROP
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 Oklahoma
Project; the technological effects of Oklahoma 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.
The CSE has not reviewed, approved or disapproved the content
of this press release.
Company Contact
Michael
Yorke – CEO and Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
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content:http://www.prnewswire.com/news-releases/crops-tenant-hempire-receives-cultivation-and-extraction-license-in-oklahoma-300842525.html
SOURCE Crop Infrastructure Corp.