Captiva Verde's Solargram starts cannabis farm harvest. Captiva Verde's Solargram starts cannabis farm harvest
2020-09-30 18:04 ET - News Release
Mr. Jeff Ciachurski reports
CAPTIVA VERDE LAND CORP ANNOUNCES SOLARGRAM FARMS CORPORATION INITIATES THE HARVEST WITHIN ITS LARGE SCALE OUTDOOR CANNABIS FARM IN RENAUDS MILLS, NEW BRUNSWICK
Captiva Verde Land Corp.'s Solargram Farms Corp., a holder of a federal Health Canada licence to cultivate, test, harvest and sell cannabis, has initiated its first large-scale cannabis farm harvest. This harvest will rank as one of Canada's largest single outdoor legal cannabis crops in Canadian history.
Under this Health Canada licence, Solargram is authorized at its site location to conduct these activities:
- From its special purpose indoor area, state-of-the art Greenhouse facility: cultivation, propagating, testing, harvesting and selling cannabis;
- From its custom-designed, massive outdoor farm grow area: cultivation, propagation and harvesting cannabis.
Large-scale outdoor harvest has started
The company's harvest began on Sept. 17. Over the last 14 weeks, the company's dedicated, hard-working and amazingly focused team meticulously planted, grew and manicured approximately 13,000 cannabis plants over 25 acres into large, beautiful, healthy, robust cannabis plants. Over the next three weeks, the Solargram harvest team will finish what it started, bringing the company's grow season to conclusion, allowing the company to prepare high-quality, milled product that will be sent to the company's planned third party extraction partner destined for its planned sale of cannabis products for retail distribution expected in late 2020.
Vice-president of Captiva Verde and Solargram Farms Len Wood states: "We have achieved another significant corporate milestone. To have achieved this level of quality outdoor cannabis crop in 2020, given COVID-19 pandemic conditions, is truly a testament to our team's commitment to quality and to our business vision and mission. Over the last three months, through ideal summer conditions, our team has successfully achieved growing and producing a high-quality bumper cannabis crop that has exceeded all expectations."
Captiva Verde is a financially debt-free company that has obtained, built and developed extensive infrastructure assets together with an experienced operational team. Solargram successfully runs and operates its large-scale cannabis outdoor grow farm at a planned budgeted ultralow sub 25-cent production grow cost per gram. This is a major market disruptor and differentiator and will allow Solargram to sell its planned high cannabinoid full spectrum cannabis and distillate oil products at prices that are significantly below its competitor's cost of production. This competitive advantage will allow the company to become a leader in this market.
The company wishes to thank all of its loyal stakeholders that have continued to support its vision while understanding its mission to create a unique Canadian licensed producer cannabis market leader that will show and demonstrate the business model required to produce sustainable positive annual cash flow profits, while providing enhanced returns for its shareholders.
Solargram has a five-year planned outdoor grow production capacity in excess of 130 farm acres at the Renauds Mills New Brunswick outdoor grow site, representing over 65,000 kilograms of dried cannabis targeted for end products containing full spectrum and distillate cannabis oil concentrates for domestic and export markets, which includes planned best-in-class, unique cannabis and edible products.
One hundred per cent of the Solargram ownership shares are held in an escrow account to be transferred to Captiva Verde in exchange for 35 million Captiva Verde shares subject to a tightly controlled pooling agreement, and further subject to Health Canada approving an in-process security application by all of the Captiva Verde officers and directors to pass a security clearance and Canadian Securities Exchange approval.
We seek Safe Harbor.