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Crop Infrastructure Corp's Italian joint venture partner plants up 25 acres

It was last month that CROP had unveiled the new joint venture deal in Italy
The firm said XHemplar Italia has planted 25 acres of cannabidiol Cannabis Light

Crop Infrastructure Corp.(CSE:CROP, OTCMKTS:CRXPF) revealed its Italian joint venture partner had begun the process of production in the European country.

Joint venture partner XHemplar Italia has planted 25 acres, or 1.089mln sq ft of high-cannabidiol Cannabis Light in the European country, a 100% increase in its previously announced capacity.

It was last month that CROP had unveiled the new joint venture deal in Italy. The agreement will see CROP own 30% of the venture under the name of Xhemplar. CROP will provide an initial investment of €500,000.

"The company is extremely encouraged by the fast pace with which the team at XHemplar has commenced production in Italy," said CROP Infrastructure director and chief executive Michael Yorke on Wednesday.

"CROPs portfolio of cannabis infrastructure assets now includes cultivation properties in California, Washington State, Nevada, Italy and joint ventures on West Hollywood and San Bernardino dispensary applications.

"CROP has developed a portfolio of 15 Cannabis brands and also has US and Italian distribution rights to a line of over 55 cannabis topical products.

"Management will continue to aggressively pursue new worldwide opportunities and expand its portfolio of tenant growers and infrastructure assets in strategic licensed jurisdictions."

The joint venture's resulting 'Cannabis Light'  will be processed and sold into international CBD markets under a white label, the venture's house name XHemplar and Crop brands Tiffany CBD and Hempire Italia.

CROP said it will also use the production to infuse its recently announced therapeutic and cosmetic product lines, licensed from The Yield Growth Corp, which transaction is now complete giving Crop exclusive rights in Italy to over 55 wellness products.

CROP shares were unchanged at C$0.29.


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