Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) had more planting news out today as its tenant grower The Hempire Company is propagating seeds on hundreds of acres in Nye county, Nevada.
Hempire has been issued a formal Nevada hemp licence covering all 240 pivoted (around a sprinkler system) acres of the farm.
Planting has been completed on 120 acres and is now underway on a further 120 acres.
"Our licensed tenant Hempire has doubled the planned hemp growing acreage from 120 acres to 240 acres for the last crop of the 2018 season," said CROP Infrastructure director and chief executive Michael Yorke.
"This is great news for our fourth quarter projections; we are now expecting Q3 & Q4 tenant harvest in all four jurisdictions where the company is present: California, Nevada, Washington State and Italy."
Yesterday, CROP said its joint venture partner XHemplar Italia had planted 25 acres, or 1.089mln sq ft of high-cannabidiol Cannabis Light in the European country - a 100% increase in its previously announced capacity.
The agreement sees CROP own 30% of the venture under the name of Xhemplar. CROP will provide an initial investment of €500,000.
Meanwhile, the Nye County agricultural Hemp farm in question today lies in central Nevada and was selected for its temperate climate which is ideal for greenhouse and outdoor growing.
The property spans over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that also have automatic fertilizer injection systems installed.
The strains of plant selected - BaOx and Cherry BaOX - have a THC content of 15% and it is estimated that the 240 acre pivots will yield 240,000 pounds of hemp flower.
The cost of production is not expected to exceed US$700,000 and the first harvest is expected in early fourth quarter this year.
CROP Infrastructure shares added 3.70% to C$0.28 in Toronto.