CROP's Nevada Hemp Farm Adds 750 Acres of Production Land for 2019 Season

The lease also provides access to over 300 acres of additional water rights. The additional 750 acres of pivot development potential will substantially increase production for the 2019 season.

CROP Infrastructure Corp. (CSE: CROP) (OTC: CRXPF) ("CROP" or the "Company") announced today its Nevada subsidiary has leased an additional 750 acres of contiguous agricultural farmland bringing the total Nevada acreage to 1,065 acres with 240 acres under pivot.


The lease also provides access to over 300 acres of additional water rights. The additional 750 acres of pivot development potential will substantially increase production for the 2019 season.

The newly-leased acreage comes with four housing units and a building to be converted into an extraction facility to process hemp biomass for CBD isolate on site. The two-year lease will annually cost $566 USD per acre and the company intends to use a portion of the revenue from its first crop to pay for the lease.

The previously announced 240 acres of CBD Hemp was planted and is currently 1.5 feet tall and growing under pivot. All harvesting equipment has been secured for the resulting hemp biomass. 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 $700,000 USD with many of the costs already incurred. The first harvest is expected in early Q4 this year.

CROP Infrastructure Director and CEO, Michael Yorke stated: "As previously announced in July, our Nevada Hemp farm and licensed tenant became the largest hemp farmer in Nevada in 2018. We are confident with over 1,000 acres that our tenant will remain the largest hemp farm in Nevada. The next phase of development will be a state-of-the-art extraction facility to make high-value CBD isolate."

About CROP

Crop Infrastructure Corp. is publicly listed on the Canadian Securities Exchange and trades under the symbol "CROP" and in the US under the symbol "CRXPF". CROP is primarily engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. The Company's portfolio of projects includes cultivation properties in California and Washington State, Nevada, Italy, Jamaica and a joint venture on West Hollywood and San Bernardino dispensary applications. CROP has developed a portfolio of 16 Cannabis brands and has US and Italian distribution rights to a line of over 55 cannabis topical products from The Yield Growth Corp.

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