CROP Infrastructure Corp. (CSE:CROP) (OTCMKTS:CRXPF) has announced a management shake-up, with the news that Arif Merali has been tapped as its interim CEO to replace Michael Yorke who stepped down as CEO at the week’s start.
The cannabis company also revealed that the date of the proposed consolidation of its issued and outstanding shares, which was unveiled yesterday, has been amended to January 16 from January 15, 2020.
CROP’s assets include medical and recreational facilities in California, a 1,012-acre Nevada Cannabis farm, a 500-acre Hemp CBD farm and a portfolio of cannabis company shares.
The company is mostly focused on constructing, owning and leasing greenhouse projects. The company provides financing for land expansion, brand positioning opportunities, specialized equipment and access to approved nutrients for licensed cannabis producers in legal growing regions.
In layman’s terms, CROP is structured in a similar way to a Real Estate Investment Trust (REIT) - a company that owns, operates or finances income-producing real estate. CROP leases real estate and provides equipment/expertise in exchange for a management fee.
Alongside the change in leadership, CROP is planning to change its name to Vert Infrastructure Ltd and trade its shares under a new stock ticker VVV.