Crop Infrastructure Corp (CSE:CROP) (OTC:CRXPF) said Thursday that it has begun development of a greenhouse and outdoor farm in Nevada.
The Vancouver-based company said in a press release that the first phase includes 1.7 million square feet (40 acres) outdoors and 60,000 square feet of greenhouse.
The cost is expected to be C$600,000, with final pricing being determined for the greenhouse. Phase 1's outdoor output is estimated to be roughly 80,000 pounds per year.
"Crop will now bring our style of low-cost cannabis cultivation to Nevada tenants, giving residents and visitors of Nevada a superior product at a lower price,” CEO Michael Yorke said in a statement.
The company added that the second phase of the project will triple the size and output of the farm with the addition of 5.2 million square feet (120 acres) and an additional 120,000 square feet of greenhouse. The project sits on 1,000 acres 3 1/2 hours north of Las Vegas.
The company is accepting 2019 orders and supply agreement requests from processors, distributors and retail outlets.
Shares of Crop traded at C$0.28 in Wednesday’s Canadian trading.
Contact Dennis Fitzgerald at [email protected]