Just wondering ... Wondering what the score is with World Farms Corp. Do they exist ? CROP gave them Jamaca and Italy for $2M equity (19%) in World Farms.
LOL !!! CROP was retained as an "advisor". TOO FUNNY ...
VANCOUVER, British Columbia, Feb. 27, 2019 /CNW/ -- CROP INFRASTRUCTURE CORP. (CSE: CROP) (CSE: CROP.CN) (OTC: CRXPF) (Frankfurt: 2FR) announced today it has entered into a purchase and sales agreement with World Farms Corp. to divest its interests in CROP Jamaica and XHemplar S.R.L in Italy for CAD$2,000,000 worth of equity in World Farms Corp.
CROP will be retained as advisors in relation to research and development in plant science.
The investment comprises of 10,000,000 common shares in World Farms Corp ('WFC'). and represents a 19% ownership interest in WFC for CROP.
The XHemplar S.R.L joint venture facility covers 87,120 square feet. CROP and XHemplar have been working with Italian agencies to import new and unique, high CBD genetics that are expected to command premium prices.
CROP JAMAICA has a five-acre property for the cultivation and extraction of cannabis. The principal local partner is Greg Douglas. During April to November 2017, Douglas was seconded to Jamaica's Cannabis Licensing Authority (CLA) as their CEO. While there he issued the first commercial licenses.
CROP CEO, Michael Yorke, stated: "CROP has divested itself of these two international operations so that management can remain entirely focused on the expanding US operations while retaining a passive but strategic investment in an internationaly focused player offering CROP shareholders additional exposure to WFC's global growth. The company has invested approximately $100,000between the two projects. This represents a 2,000% return on investment for CROP and its stakeholders.