Crop Infrastructure Corp. (OTC:CRXPF) (CSE:CROP)
Breaking News
September 26, 2018
CROP SECURES THC LICENSE
PORTFOLIO AT NEW 1,000 ACRE FARM FOR CULTIVATION, EXTRACTION, COMMERCIAL KITCHEN
AND RETAIL
Vancouver, British Columbia -- September 26, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announces that its subsidiary
Elite Ventures Group LLC has signed a joint venture agreement with The Hempire
LLC of Nevada (the “Tenant”) to purchase a 100% interest in an 1,000 acre
Esmeralda County agricultural cannabis project tenanted with a suite of cannabis
licenses including medical cultivation, medical production and with adult use
recreational cultivation & production conditional licenses as well as an option
to acquire a retail dispensary application assigned to a strategic location on
highway 95 on route to Las Vegas. CROP has agreed to loan up to $4,250,000 USD
over a period of the next 6 months to acquire 100% of the initial 10 acres of
real estate and associated infrastructure with the additional 1,000 acres being
paid for at a cost of $4,500,000 over a 20-year amortization period at 6%
interest with a 3-year balloon payment. CROP will receive preferential payback
on the project at a rate of 60% of the net profits from Elite.
Esmerelda County is one of the only jurisdictions in Nevada where climate and
zoning allows for greenhouse or outdoor growing. This will be significant for
our tenant growers and brand licensee to be able to provide high quality product
on a large scale at the lowest cost possible, keeping with CROP’s strategy.
The initial set up costs of outdoor 80-acre operation will be approximately
$1,200,000 and should yield tenants 160,000 pounds of outdoor cannabis for
extraction and edibles and a 44,000 square foot light supplemented greenhouse
facility at a cost of $2.0 Million. The greenhouse facility should yield tenants
24,000 pounds of high quality flower per year with an additional 25% for
extraction and edibles. The project can be expanded up to 300 acres of combined
greenhouse and outdoor cultivation.
RBC Capital Markets, an investment bank
that’s part of Royal Bank of Canada, issued a memo to clients outlining the
rapid growth of the U.S. marijuana sector. The memo, authored by Nik Modi, shows
how cannabis sales in the U.S. are gaining ground on beer and wine sales.
Projecting a compound annual growth rate (CAGR) of 17 percent, Modi estimates
that the legal cannabis category could reach $47 billion in sales annually in
the United States within the next decade, according to
Business Insider.
The Esmeralda Property
• 10 acres of land adjacent to Highway 95 outside of Tonopah
• 10 acre-feet of ground water rights
• Option to acquire 1,000 acres of contiguous property with water rights
• 2,400 sqft production, extraction, commercial kitchen facilities with state
approval
• NV Energy Utility agreement for cultivation building and expansion to 12,000
sqft.
• Equipment included: Building, main HVAC system, lighting, backup generator,
sinks, and restroom fixtures.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “CROP now has over
1,000 acres for THC Cannabis cultivation, extraction, commercial kitchen and
1,865 acres for HEMP CBD production in Nevada. Our ambition has always been to
be early mover and establish our market footprint in any jurisdiction we invest
in. Next year CROP plans on having the largest real estate foot print in the
State of Nevada with tenanted operations in the fast-growing CBD & THC markets.”
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, two in Washington State, a 1,000-acre
Nevada Cannabis farm, a 1,865 CBD farm, extraction in Nevada with international
focuses in Jamaica and Italy and a joint venture on West Hollywood and San
Bernardino dispensary applications. CROP has developed a portfolio of assets
including Canna Drink, a cannabis infused functional beverage, US and Italian
distribution rights to over 55 cannabis topical products and a portfolio of 16
Cannabis brands.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities
issuable thereunder and the Transaction are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. In addition, marijuana remains a Schedule I drug
under the United States Controlled Substances Act of 1970. Although Congress has
prohibited the US Justice Department from spending federal funds to interfere
with the implementation of state medical marijuana laws, this prohibition must
be renewed each year to remain in effect. These statements generally can be
identified by the use of forward-looking words such as “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”,
or the negative thereof or similar variations. Forward-looking statements in
this news release include statements regarding the expected yield from The
Esmeralda Property; the technological effects of The Esmeralda Property on
production; the intention to expand its portfolio; and execute on its business
plan. Such statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Source: Crop Infrastructure Corp.
CROP’S CALIFORNIA HARVEST
CONTINUES WITH MORE POSITIVE TEST RESULTS
Vancouver, British Columbia -- September 21, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announced today its California tenant has received
additional lab results from its first crop. The first sample of dried 707 OG
cannabis flower was submitted to Humboldt Quality Assurance Laboratory for
analysis on September 14, 2018. The Company has been informed that samples of
Platinum OG Kush have been submitted for additional testing.
The 707 OB sample has received a Tetrahydrocannabolic Acid (‘THCA’) result of
23.9% and passed all tests for microbial impurities and detectable pesticides.
THCA is not directly used, but its presence is commonly analyzed when cannabis
or hemp-based products are screened for THC. State testing is still pending.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “Following our CROP
SAFE method and SOP’s, CROP is pleased to announce that our tenant has achieved
a concentration of 23.9% THCa. 23.9% THCa commands a higher market value and is
considered premium quality.”
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 assets including Canna Drink a
cannabis infused functional beverage, US and Italian distribution rights to over
55 cannabis topical products and a portfolio of 16 Cannabis brands.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities
issuable thereunder and the Transaction are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. In addition, marijuana remains a Schedule I drug
under the United States Controlled Substances Act of 1970. Although Congress has
prohibited the US Justice Department from spending federal funds to interfere
with the implementation of state medical marijuana laws, this prohibition must
be renewed each year to remain in effect.These statements generally can be
identified by the use of forward-looking words such as “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”,
or the negative thereof or similar variations. Forward-looking statements in
this news release include statements regarding the expected yield from The
Humboldt Property; the technological effects of The Humboldt Property on
production; the intention to expand its portfolio; and execute on its business
plan. Such statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Source: Crop Infrastructure Corp.
CROP DEVELOPING CANNADRINK CBD-INFUSED
BEVERAGES
Vancouver, British Columbia -- September 13, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announced today it is developing a new
cannabis-infused line of soft drinks. Called ‘CANNADRINK’, the beverage will be
developed to be a zero calorie, non-GMO, ketogenic-friendly line of soda pop,
and will include tea and coffee versions.
The global
carbonated soft drinks market is projected to reach USD 605.6 Billion by
2025, according to a March 2018 report by Grand View Research, Inc.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “The
cannabis-infused beverages market has attracted the attention of world class
beverage companies as legalization spreads. We see it as a tremendous
opportunity for CROP Infrastructure’s branding & IP portfolio and as an axillary
opportunity for each of our cultivation tenants Globally”
“The global soft drink market, in another study, is forecast to grow at a CAGR
of 5.62% through to 2021. It is also going sugar free. Studies from the World
Health Organization have shown that a simple can of carbonated soda drink can
contain over 40 grams of sugar, equivalent to 10 teaspoons of table sugar. As an
example, Britain’s sugar tax has forced many soft drinks companies to
re-evaluate the sugar content of their soft drinks and are developing new low or
reduced-sugar beverages with additional claimed health benefits, in response to
consumer demand.”
“Functional beverages are a new class of products that offer beyond basic
nutritional ingredients including vitamins, minerals, herbs, amino acids and
probiotics. We believe that cannabis’s medically known benefits will enhance our
own formulations, so we are bang on target with our CANNA DRINK line.” concluded
Yorke.
Follow CannaDrink on
instagram &
twitter.
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 assets including Canna Drink a
cannabis infused functional beverage, US and Italian distribution rights to over
55 cannabis topical products and 16 Cannabis brands.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities
issuable thereunder and the Transaction are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. In addition, marijuana remains a Schedule I drug
under the United States Controlled Substances Act of 1970. Although Congress has
prohibited the US Justice Department from spending federal funds to interfere
with the implementation of state medical marijuana laws, this prohibition must
be renewed each year to remain in effect. These statements generally can be
identified by the use of forward-looking words such as “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”,
or the negative thereof or similar variations. Forward-looking statements in
this news release include statements regarding the expected outcome of the Canna
Drink ; the technological effects of The Canna Drink on production; the
intention to expand its portfolio; and execute on its business plan. Such
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Source: Crop Infrastructure Corp.
CROP COMPLETES PURCHASE OF NYE
COUNTY FARM
Vancouver, British Columbia -- September 7, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announced today that it has completed the member
interest purchase agreement with Elite Ventures LLC, of Nevada, to acquire a 49%
member interest in the Nye County agricultural property. The company has agreed
to pay $1,350,000 USD in cash and has currently loaned $1,697,148 USD for the
property and equipment expenses, with no more than $200,000 in additional
expenses expected for this first harvest.
The Nye County agricultural property is in central Nevada and was selected for
its temperate climate which is ideal for
greenhouse and outdoor growing. The property totals over 315 acres and includes
300 acres of private water rights, with 240 acres under automatic irrigation
pivots that also have automatic fertilizer injection systems installed.
The previously announced 240 acres of CBD Hemp has been planted and is currently
2.5-3 feet tall and growing under pivot with the resulting harvest expected
within 45 days. A recent plant count suggests 3,000 healthy plants per acre or
720,000 plants under pivot. All harvesting equipment has been secured for the
resulting hemp biomass. The cost of production was not expected to exceed
$700,000, with $350,000 incurred to date, and no more then $200,000 in
additional costs expected to prepare our tenant for this harvest.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “We are pleased to
have completed this acquisition and see our operations coming in under budget
for this first harvest. This further demonstrates that our tenant and brand
licensee was the correct choice for our Nevada farm. 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.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities
issuable thereunder and the Transaction are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. In addition, marijuana remains a Schedule I drug
under the United States Controlled Substances Act of 1970. Although Congress has
prohibited the US Justice Department from spending federal funds to interfere
with the implementation of state medical marijuana laws, this prohibition must
be renewed each year to remain in effect.These statements generally can be
identified by the use of forward-looking words such as “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”,
or the negative thereof or similar variations. Forward-looking statements in
this news release include statements regarding the expected yield from The Nye
Property; the technological effects of The Nye Property on production; the
intention to expand its portfolio; and execute on its business plan. Such
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
SOURCE CROP Infrastructure Corp.
CROP ADVANCES DISPENSARY APP
TO LEVEL 3 REVIEW AND HEMPIRE’S HAVEST CONTINUES WITH FIRST SALES PENDING
TESTING
Vancouver, British Columbia -- September 6, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announces it has received confirmation that its San
Bernardino dispensary application has advanced to stage three of four of the
application review process.
Furthermore, the Company is pleased to announce its 49% “Emerald Triangle”
cannabis production facility tenanted by “Hempire” in Humboldt California
continues harvest with an additional 2 greenhouses now drying and awaiting test
results to begin selling. This 30,000 square foot production facility sits on
approximately 8.46 acres and consists of a 10,000 square foot medicinal cannabis
greenhouse facility and an additional 20,000 square feet of recreational
licensed canopy.
Hempire has also advised they have secured 800 additional ready to flower plants
for a late season harvest with a unique genetic currently in high demand.
CROP Infrastructure Director & CEO Michael Yorke states: “Crop’s tenant,
Hempire’s harvest looks phenomenal and we look forward to receiving the first
brand licensing and lease payments from Hempire in September. The Emerald
Heights dispensary application is exciting as vertically integrating tenants
will provide for the largest returns both from a brand licensing perspective and
return on investment from CROP’s real estate portfolio”
About Humboldt Holdings LLC
Located in Humboldt County, California the property is 8.46 acres and currently
houses a 10,000 square foot greenhouse as well as a barn, garage and residence.
On site are five 5,000-gallon water tanks, a well and pump house and a 30 x 60
ft. drying shed. The property is zoned for a 10,000 square foot medical and a
20,000 square foot recreational cannabis license.
https://cropcorp.com/property/california/
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, Washington State, Nevada, Italy, Jamaica
and a joint venture on West Hollywood and San Bernardino dispensary
applications. CROP has developed a portfolio of 15 Cannabis brands and has US
and Italian distribution rights to a line of over 55 topical cannabis products
from The Yield Growth Corp.
Disclaimer for Forward-Looking Information
Certain statements in this press release are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. These statements generally can be identified by the
use of forward-looking words such as “may”, “should”, “could”, “intend”,
“estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the
negative thereof or similar variations. Forward-looking statements in this news
release include statements regarding the purchase, development and leasing of
projects, commencement of construction of additional greenhouses, estimated
Tenant production of product, the pursuit of new opportunities and the expansion
of CROP’s portfolio. Such statements are qualified in their entirety by the
inherent risks and uncertainties surrounding the Company’s ability to execute on
its business plan, raise additional funds as and when required, legal and
political risks regarding the cannabis industry, including the changes of
municipal, state, provincial and federal laws thereof, the risk that Humboldt
may require further capital to execute on its expansion plans and other factors
beyond the control of the Company. Such forward-looking statements should
therefore be construed in light of such factors, and the Company is not under
any obligation, and expressly disclaims any intention or obligation, to update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise, except as required by applicable law.
In addition, marijuana remains a Schedule I drug under the United States
Controlled Substances Act of 1970. Although Congress has prohibited the US
Justice Department from spending federal funds to interfere with the
implementation of state medical marijuana laws, this prohibition must be renewed
each year to remain in effect.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
SOURCE CROP Infrastructure Corp.
CROP SUBSIDIARY TO OPEN
ITALIAN RETAIL LOCATIONS LAUNCHING ITS FIRST LINE OF HEMP OIL INFUSED PRODUCTS
IN ITALY
Vancouver, British Columbia -- August 30, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announces it will launch its first line of Hemp oil
infused cosmetic and therapeutic products under the brand “URBAN JUVE”, pursuant
to its previously announced License Agreement with The Yield Growth Corp.’s
subsidiary, Urban Juve Provisions Inc. (formerly Juve Wellness Inc.). The
License Agreement gives CROP exclusive rights in Italy to the URBAN JUVE
products, as well as non-exclusive distribution rights in the United States.
Furthermore, the Company in partnership with the team from Xhemplar S.R.L.
CROP’s cultivation and extraction joint venture partner in Italy, is scouting
locations to open 2 CBD retail outlets in Northern Italy under the company’s
Emerald Heights brand, before the end of 2018.
The URBAN JUVE product line which will be featured prominently along with
Xhemplar products, and Hempire hemp oil products at all Italy locations. Urban
Juve is inspired by Ayurvedic philosophy and is created for the modern,
wellness-conscious consumer. The unique formulations benefit consumers seeking
natural products made with the highest
quality ingredients. Urban Juve is manufacturing its first line of 12 topical
products in the fall of 2018. All the products contain hemp oil procured through
a patent pending hemp oil extraction process. Crop has the right to add hemp oil
to the products and distribute them throughout Italy.
According to a study by Arcview Market Research and its research partner BDS
Analytics, by 2027 worldwide sales of legal cannabis are forecast to reach $57
billion. During that period, spending in North America is expected to leap from
$9.2 billion to $47.3 billion driven mainly be recreational use. The fastest
cannabis market growth is expected to come from outside North America,
especially Europe where the main growth driver will be medical applications.
Medical cannabis use will be fed by $1.3 trillion estimated annual
government-subsidized healthcare spending. The structure of the healthcare
industry is expected to make Europe the number one medical cannabis market in
the world.
“We are excited to be partnered with CROP for the European launch of the URBAN
JUVE hemp oil infused product line,” says Penny Green, President and CEO of
Yield Growth. “CROP is a demonstrated leader in the international hemp market
with affiliations to hemp production in Nevada, California, Washington, Italy
and Jamaica.”
CROP Infrastructure Director & CEO Michael Yorke states: “We are pleased with
the URBAN JUVE branding initiative by Yield Growth and feel it will resonate
with health and lifestyle consumers. We look forward to offering the URBAN JUVE
products in Italy.”
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, Washington State, Nevada, Italy, Jamaica
and a joint venture on West Hollywood and San Bernardino dispensary
applications. CROP has developed a portfolio of 15 Cannabis brands and has US
and Italian distribution rights to a line of over 55 topical cannabis products
from The Yield Growth Corp.
About CROP Infrastructure Corp.
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 assets includes cultivation
properties in California, 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 topical cannabis products from The Yield Growth
Corp.
Disclaimer for Forward-Looking Information
Forward-looking statements are not based on historical facts, but rather on
current expectations and projections about future events, and are therefore
subject to risks and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the forward-looking
statements. In addition, marijuana remains a Schedule I drug under the United
States Controlled Substances Act of 1970. Although Congress has prohibited the
US Justice Department from spending federal funds to interfere with the
implementation of state medical marijuana laws, this prohibition must be renewed
each year to remain in effect. These statements generally can be identified by
the use of forward-looking words such as “may”, “should”, “could”, “intend”,
“estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the
negative thereof or similar variations. Forward-looking statements in this news
release include statements regarding the expected yield from The Jamaica
Property; the technological effects of The Jamaica Property on production; the
intention to expand its portfolio; and execute on its business plan. Such
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
SOURCE CROP Infrastructure Corp.
CROP’S WHEELER FACILITY
COMMENCES COMMERCIAL PRODUCTION
Vancouver, British Columbia -- August 28, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“CROP” or the “Company”) announced today that its
tenant has now commenced commercial production at Wheeler Park. The facility is
designed for perpetual harvest of cannabis at ‘The Park’, its state-of-the-art
facility in Washington State. Crop’s licensed tenant grower has now advised the
Company that it expects its first harvest of cannabis within weeks and it will
be at full scale production in September 2018. The perpetual harvest system
utilizes cannabis strains with a 55-60 day flower cycle. Every other day the
tenant grower removes three trays of flowered plants from the finishing end and
harvests the plants, while simultaneously loading three new trays with plants to
begin the flowering process.
The Park cannabis greenhouse is 35,000 sqft and sits on approximately nine acres
of land. The facility recently underwent
a complete retro-fit for hydroponic automation and the addition of 500 Gavita
HPS grow lights. The greenhouse facility has five flowering bays that are
designed to yield, at full scale production, approximately 12,000 pounds of high
quality cannabis annually (~1,000 pounds per month). The current operating cost
is $50,000 USD per month.
CROP Infrastructure Director and CEO, Michael Yorke, stated: “With harvests now
underway in California along with our Washington tenant weeks away from its
first harvest, the Company is now at a turning point. The Company expects four
of its six tenant licensees to harvest at its farms, with each set to begin cash
flowing in Q4 2018.”
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, Washington State, Nevada, Italy, Jamaica
and a joint venture on West Hollywood and San Bernardino dispensary
applications. CROP has developed a portfolio of 15 Cannabis brands and has US
and Italian distribution rights to a line of over 55 topical cannabis products
from The Yield Growth Corp.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
About CROP Infrastructure Corp.
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 assets includes cultivation
properties in California, 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 topical cannabis products from The Yield Growth
Corp.
Disclaimer for Forward-Looking Information
Forward-looking statements are not based on historical facts, but rather on
current expectations and projections about future events and are therefore
subject to risks and uncertainties which could cause actual results to differ
materially from the future results expressed or implied by the forward-looking
statements. In addition, marijuana remains a Schedule I drug under the United
States Controlled Substances Act of 1970. Although Congress has prohibited the
US Justice Department from spending federal funds to interfere with the
implementation of state medical marijuana laws, this prohibition must be renewed
each year to remain in effect. These statements generally can be identified by
the use of forward-looking words such as “may”, “should”, “could”, “intend”,
“estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”, or the
negative thereof or similar variations. Forward-looking statements in this news
release include statements regarding the expected yield from The Jamaica
Property; the technological effects of The Jamaica Property on production; the
intention to expand its portfolio; and execute on its business plan. Such
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
SOURCE CROP Infrastructure Corp.
CROP's Nevada Hemp Farm Adds
750 Acres of Production Land for 2019 Season
Vancouver, British Columbia -- August 22, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“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.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities
issuable thereunder and the Transaction are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. In addition, marijuana remains a Schedule I drug
under the United States Controlled Substances Act of 1970. Although Congress has
prohibited the US Justice Department from spending federal funds to interfere
with the implementation of state medical marijuana laws, this prohibition must
be renewed each year to remain in effect. These statements generally can be
identified by the use of forward-looking words such as "may", "should", "could",
"intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue",
or the negative thereof or similar variations. Forward-looking statements in
this news release include statements regarding the expected yield from The Nye
Property; the technological effects of The Nye Property on production; the
intention to expand its portfolio; and execute on its business plan. Such
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Company Contact
Michael Yorke - CEO & Director
E-mail: info@cropcorp.com
Phone: +1(604)484-4206
SOURCE CROP Infrastructure Corp.
CROP ADVANCES ITS SAN
BERNARDINO DISPENSARY APPLICATION AND INCREASES OWNERSHIP IN CALIFORNIA FARM
Vancouver, British Columbia -- August 22, 2018 -- Crop Infrastructure
Corp. (OTC:CRXPF)
(CSE:CROP)
(“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.
Company Contact
Michael Yorke – CEO & Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Offering, the securities
issuable thereunder and the Transaction are forward-looking statements and are
prospective in nature. Forward-looking statements are not based on historical
facts, but rather on current expectations and projections about future events,
and are therefore subject to risks and uncertainties which could cause actual
results to differ materially from the future results expressed or implied by the
forward-looking statements. In addition, marijuana remains a Schedule I drug
under the United States Controlled Substances Act of 1970. Although Congress has
prohibited the US Justice Department from spending federal funds to interfere
with the implementation of state medical marijuana laws, this prohibition must
be renewed each year to remain in effect.These statements generally can be
identified by the use of forward-looking words such as “may”, “should”, “could”,
“intend”, “estimate”, “plan”, “anticipate”, “expect”, “believe” or “continue”,
or the negative thereof or similar variations. Forward-looking statements in
this news release include statements regarding the expected yield from The Nye
Property; the technological effects of The Nye Property on production; the
intention to expand its portfolio; and execute on its business plan. Such
statements are qualified in their entirety by the inherent risks and
uncertainties surrounding the regulatory and legal framework regarding the
cannabis industry in general among all levels of government and zoning; risks
associated with applicable securities laws and stock exchange rules relating to
the cannabis industry; risks associated with maintaining its interests in its
various assets; the ability of the Company to finance operations and execute its
business plan and other factors beyond the control of the Company. Such
forward-looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims
any intention or obligation, to update or revise any forward-looking statements,
whether as a result of new information, future events or otherwise, except as
required by applicable law.
The CSE has not reviewed, approved or disapproved the content of this press
release.
Source: CROP Infrastructure Corp.
-------------------------------------------------------------------
About Crop Infrastructure Corp.:
CROP Infrastructure Corp. (CSE: CROP / OTC: CRXPF) is a North American
enterprise ideally positioned to aid the explosive growth of the specialty crop
production sector. Our focus aims to leverage strategic capital investment in
land expansion opportunities; assist with key big ticket investments such as
greenhouses, foundations, roads, advanced hydroponics, electrical distribution
networks, and specialized lighting systems. We are also working to develop
relationships with approved agricultural plant input partners for uniformly safe
fertilizers, nutrients, herbicides and pesticides as part of a bulk distribution
service and innovative GROWSAFE – CROPSAFE client certification program.
PROBLEM: Sources of traditional capital acquisition financing for a myriad of
goods and services required by specialty producers and processors is severely
limited due to Federal regulations preventing mainstream lending institutions
from participating in sector growth.
SOLUTION: CROP helps producers and processors to achieve growth and revenue
targets by increasing accessibility, efficiency, scalability, and sustainability
through affordable lease programs and reasonable fee-based management options.
In an environment where traditional financing is limited. CROP bridges the gap
to build an industry.
We’re making history one farm at a time.
As an investment vehicle, modern greenhouse canopies offer the highest quality
production environment at the lowest potential cost to growers. By providing
modern canopies and related infrastructure, CROP aids specialty producers to
maintain a competitive edge in one of the most extraordinary opportunities of
our generation.
CROP’s roll-out portfolio currently consists of 44,000 square feet of canopy and
has built the blueprint and framework for an aggressive expansion in 2018.
Management
Michael Yorke, CEO & Director
Mr. Yorke began his career in the financial sector with the Royal Bank of Canada
in 2001. He subsequently served as an active trader and value investor for the
last 14 years. He went on to provide consulting services to several publicly
traded companies in addition to organizing capital market events with On-Page
Media. Mr. Yorke is fluent in three languages and is has traveled extensively
around the globe. He earned an International Business Diploma, Bachelor of
Business Administration degree, and is currently completing his Masters of
Business Administration degree through the British Columbia Institute of
Technology.
Abbey Abdiye, CFO
Mr. Abdiye brings extensive experience in the financial sector with both public
and private companies. He is a Chartered Professional Accountant (CPA), current
CFO of Tower One Wireless Corp. and other reporting issuers, where he managed
the responsibility for all financial, fiscal management, regulatory compliance,
and reporting aspects of corporate operations. He also provides strategic
guidance and direction in capital structuring and is engaged with innovative
financing programs that leverage sales and development opportunities.
MANAGEMENT
Directors & Advisors
Christine Mah, Director
Ms. Mah brings 10 years direct experience working with reporting companies
assisting with corporate management, systems integration, accounting procedures
and administrative services. Her experience includes assisting companies within
industry sectors such as communications, technology, and consumer goods. Ms. Mah
offers relevant governance expertise from her audit committee experience and
hands-on participation in the yearly audits of companies such as Evolving Gold
Corp. Ms. Mah is an experienced professional with a Marketing Diploma from the
British Columbia Institute of Technology.
Twila Jensen, Director
Ms. Jensen is a senior capital markets strategist with Stockhouse, Canada’s
leading financial community and a global hub for affluent investors, with over
one million unique monthly visitors. Ms. Jensen also acts as an independent
director for two other TSX Venture Exchange-listed companies, Durango Resources
Corp. and BTU Metals Corp. Ms. Jensen has more than 18 years of experience
working in the capital markets in sales and marketing roles, as an independent
director, and also as part of audit committees. She has worked with hundreds of
public companies across North America in various sectors over the last two
decades.
David Weinkauf, Executive Advisor
Throughout Mr. Weinkauf’s real-estate career he led and was involved in
approximately $3.0 Billion in transactions while developing around 3,000 acres
of real estate. Mr. Weinkauf was recognized as Calgary’s top 40 under 40 in 2004
and was nominated for Canada’s top 40 under 40 in 2006 after graduating from the
University of Calgary in 1993, with a Bachelor of Commerce Degree focused on
Marketing and Finance. David’s volunteer work has been extensive including
sitting as a
member of the board of directors of Children’s wish foundation of Alberta and
the NWT and sitting on as the President of the advisory committee to Calgary
Economic Development.
Overview
CROP brings capital to invest in land and equipment to increase income-producing
producers (and processors) ability to achieve sector growth; by delivering
funding accessibility, and by driving efficiency, scalability, and
sustainability through affordable leasing programs and reasonable management
fees.
CROP Infrastructure is structured similarly to a Real Estate Investment Trust
(REIT): a company that owns, operates or finances income-producing real estate.
The company invests in income-producing property and agricultural equipment to
service the growth of the specialty crop industry. CROP leases it’s real estate
and provides equipment/expertise in exchange for a management fee.
Infrastructure investment includes land preparation (i.e.: roadways, structural
foundations); canopy structures and related service buildings (i.e.: industrial
scale greenhouses, fertilizer storage, hydroponics management, product storage
and transhipment facilities); plus access to irrigation equipment, specialized
lighting and electrical services.
Owner/operators enter into a fixed period leasehold and management fee
structure. Agreements include use of CROP branding and use of CROP “Safety
Approval” rating system through access to preferred network of suppliers. GROW
SAFE – CROP SAFE.
Services, Fees, Facilities & Equipment
> CROP Infrastructure Corp. purchases real estate, which is leased to the
licensed producer/processor.
> Greenhouses and related equipment (and services) are provided in exchange for
a management fee to CROP.
> CROP offers access to secured investment capital dedicated to infrastructure
investment.
> Client grower/operators targeting an average of 12 greenhouses (approximately
1 acre) or more, are ideal.
SOURCE: http://www.cropcorp.com/
Disclaimer
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This release contains "forward-looking statements" within the meaning of Section
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the forward-looking statements, including the risks that actual results may
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