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Crop Infrastructure’s Washington State tenant establishes bulk cannabis customer relationship

Wheeler Park’s first 150 pounds of flower has been delivered at $400 per pound

A marijuana plant
A premium flower line will be sold under the Evolution Cannabis brand

Crop Infrastructure Corp (CSE:CROP) announced Tuesday that its Washington State tenant has established a bulk cannabis customer relationship.

The company said in a statement that Wheeler Park’s first 150 pounds of flower has been delivered at $400 per pound.

Crop added that Wheeler Park recently completed conversion to a 100% hydroponic facility and that a perpetual harvest system is now being used with cannabis strains that have a 55- to 60-day flower cycle. The facility is designed for an average 1,000 pounds per month.

READ: Crop’s Elite Ventures to partner with MYM Nutraceuticals on 120 acres of hemp in Nevada

Bulk sales complement Wheeler Park’s ongoing sales strategy to establish itself as a premiere cannabis flower and extraction brand, according to Vancouver-based Crop.

Strains included in the bulk sale are Bubba Kush, Dutch Hawaiian, Ghost Train, Green Crack, Star Killer and WA Cookies, which originated in the previous soil medium. A premium flower line will be sold under the Evolution Cannabis brand.

"While testing results of our premium product continue to be outstanding, our tenant brand sales team is doing a fantastic job of using bulk sales to cover facility overhead and turn over older, less desirable products,” Crop CEO Michael Yorke said. “Perpetual harvest means the product is always fresh and maximizes throughput.”

Power costs

Yorke added that the facility has the lowest-cost power in North America, at $0.02 per kilowatt hour.

Shares of Crop fetched US$0.25 in Tuesday’s OTC Markets trading. They slipped C$0.01 to C$0.32 in Canada.

Earlier this month, Crop said its Elite Ventures Group LLC subsidiary will partner with MYM Nutraceuticals on 120 acres of cannabidiol-rich hemp in Nevada.

Contact Dennis Fitzgerald at dennis@proactiveinvestors.com
 

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