Crop Infrastructure Corp (OTCMKTS:CRXPF) (CNSX:CROP) announced Tuesday that it has received confirmation that its San Bernardino, California, retail cannabis business application has reached the final phase.
The Vancouver-based company said in a statement that its executives will attend a special meeting of the mayor and city council to make a three-minute presentation followed by a question-and-answer session.
READ: Crop Infrastructure announces up to C$4M convertible debenture offering by the cannabis company
As announced on July 5, Crop agreed to finance the purchase of real estate upon the granting of a California dispensary license. Its proposed dispensaries will operate under the brand Emerald Heights.
“Crop has high expectations for Emerald Heights at this location,” CEO Michael Yorke said. “The team has done its market and location research very well and is now in the final phase of the application process in San Bernardino.”
Shares of the company traded at C$0.32 in Tuesday’s Canadian trading. They fetched US$0.25 on the OTC Markets.
Crop’s projects include operations in California, Washington State and Nevada.
Last week, the company announced its plan to raise as much as C$4 million in a senior secured convertible debenture offering.
Contact Dennis Fitzgerald at [email protected]