It is also now beginning to prepare the site for a CBD (cannabidiol) isolate extraction facility in Nye County.
Crop Infrastructure Corp (CSE:CROP, OTCMKTS:CRXPF) said its tenant grower The Hempire Company had now completed planting an additional 120 acres in Nevada, for a total of 240 acres, making it the largest hemp farm in the US state.
It is also now beginning to prepare the site for a CBD (cannabidiol) isolate extraction facility in Nye County.
A formal licence
Earlier this month, Hempire was issued with a formal Nevada hemp license covering all 240 pivoted (around a sprinkler system) acres of the farm.
Planting has been completed on 120 acres and was underway on a further 120 acres - now complete.
"Crop's property is now the largest hemp farm in Nevada and its tenant is the largest grower; the next phase of development will be a state-of-the-art extraction facility to make CBD isolate, which is a highly sought-after product," said Crop director and chief executive Michael Yorke today.
The firm said the farm lies in central Nevada and was selected for its temperate climate.
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.
Readying for extraction facility
The site for the extraction facility is being cleared and an application permit for construction being prepared.
Additionally, permitting for the construction of cannabis greenhouses will be planned once the company is able to acquire a cannabis cultivation licence on the 50 acres set aside.
The strains of the plant selected - BaOx and Cherry BaOX - have a THC content of 15% and 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 US$700,000 and the first harvest is expected in the early fourth quarter this year.
Shares nudged up 4.76% in Toronto to stand at C$0.22.
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