CROP Infrastructure Corp. (“CROP”) announces it has entered into a joint venture agreement whereby CROP will own 30% under the name of Xhemplar to develop a 522,000 square foot project in the North-Eastern region of Italy. The joint venture and its principals have also been permitted to develop one of a few extraction and processing facilities currently present in the Country of Italy. CROP has committed to providing an initial investment of €500,000. The initial investment will enable the planting of 435,000 square feet, the retrofit of the extraction facility, and the commencement of construction on an 87,000 square foot greenhouse facility. The initial yield of the tenant joint venture greenhouse is expected to be a combined 44,000 pounds of low THC, high CBD cannabis light per year. The joint venture’s resulting cannabis will be processed and sold into international CBD markets under white label, the venture’s house name XHEMPLAR and CROP brands TIFFANY CBD and HEMPIRE ITALIA.
Hemp Land, Cannabis Hemp Blog, 01/26/2021 14:03:00