CROP Infrastructure Corp. (“CROP”) announced today it has entered into a loan agreement with Elite Ventures Group, LLC of Nevada to purchase a Nye County agricultural property with the intention of forming a joint venture development agreement for Hemp & Cannabis infrastructure. The Company has agreed to finance the Nevada project and has forwarded an initial cash commitment of $100,000 USD into escrow. The Nye County agricultural property is in Central Nevada and was selected for its temperate climate which is ideal for greenhouse growing. The property spans over 315 acres and includes 300 acres of private water rights, with 240 acres under automatic irrigation pivots that have automatic fertilizer injection systems installed. Once licensed for hemp and cannabis, the pivots would be seeded with feminized auto-flowering seeds for both THC and CBD crops. The Company’s potential cultivation infrastructure consultant believes the pivots would allow for three turns per year that would supply an abundant feedstock for the creation of both CBD and THC distillates.
Hemp Land, Cannabis Hemp Blog, 01/06/2021 03:36:00