VANCOUVER, British Columbia, Feb. 21, 2019 /PRNewswire/ -- CROP
INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today it
has signed an agreement with Antler Retail Inc., whereby Hempire and CROP will provide Antler with finished
packaged goods under the Antler brand.
Details are as follows:
Unit
|
Wholesale Unit Price
|
No of Units
|
MSRP
|
Total Value of Purchase
|
1/2 Gram Vape Carts
|
$15.00
|
10,000
|
$50
|
$150,000
|
1/4 Gram Vape Carts
|
$12.00
|
4,000
|
$40
|
$48,000.00
|
Infused Cone
|
$10.00
|
2000
|
$18
|
$20,000
|
Cones
|
$5.00
|
2000
|
$10
|
$10,000.00
|
|
|
|
|
|
|
|
|
Total:
|
US$228,000
|
Antler recently acquired an approved permit for a cannabis retail location with state wide delivery rights in
California. Its US retail location will be in Desert Hot Springs and it has plans to take
advantage of the now expanded state-wide nature of its delivery rights. This licence gives Antler the freedom to address a much
larger market place without the immense potential overhead of many brick and mortar operations.
CROP and Hempire will provide Antler its home-made brand outside of what Antler anticipates offering from separate
self-branded cultivators from all over California. As Antler moves into additional US states, the supply agreement will
be amended to bring the Antler Home brand to each State Antler enters.
Payment for the initial order will be converted to shares in Antler Retail at CAD$0.20
per unit by issuance of 1.5 million units with each unit consisting of one common share and one common share purchase warrant at
CAD$0.75 exercisable for a period of 12 months.
CROP CEO, Michael Yorke, stated: "We believe it is a prudent move for our company
to convert our finished products into shares of Antler retail. We see this as an opportunity to not only assist
Antler in entering additional states, but also as a big step forward in further
establishing CROP's retail presence in a key market, while making what we believe will be a very sound
investment."
About CROP
Crop is publicly listed on the CSE and trades under the symbol "CROP". CROP is focused on cannabis branding and real estate
assets. CROP's portfolio of projects includes cultivation properties in California, two in
Washington State, a 1,000-acre Nevada Cannabis farm, 1,865 acres of CBD farms, extraction in
Nevada and joint ventures on West Hollywood and San Bernardino dispensary apps with international focuses in Jamaica and
Italy.
CROP has developed a portfolio of assets including Canna Drink, a cannabis infused functional beverage line, US and Italian
distribution rights to over 55 cannabis topical products and a portfolio of 16 Cannabis brands. CROP's infrastructure has
over 150,000 sq ft of built canopy and over 2,900 acres of real estate.
Disclaimer for Forward-Looking Information
Certain statements in this press release are 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 returns from the Washington Project; the technological effects of Washington Project; 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 and Director
E-mail: info@cropcorp.com
Phone: +1-(604)484-4206
Website: www.cropcorp.com