CROP Investment Holding World Farms Announces LOI to go Public on the CSE
08 Maggio 2019 - 3:15PM
CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF)
(Frankfurt: 2FR) announced today that its investment
holding World Farms Corp. has signed an LOI with Graphite Energy
Corp (CSE: GRE) to go public via reverse take over on the Canadian
Securities Exchange. CROP currently owns 10,000,000 shares in World
Farms Corp who also announced a $0.30 private placement in
connection with the RTO.
On February 27th CROP divested its interest in
Italian and Jamaican joint ventures in return for $2.0 million in
common shares of World Farms Corp at a deemed price of $0.20 per
share for a total of 10,000,000 shares.
About World Farms Corp.
WFC Farms is a private company that is building
a portfolio of low cost, scalable international cannabis assets in
countries where the sale of either CBD or cannabis is legal. WFC’s
current portfolio includes joint ventures in Italy, Croatia, South
Africa, Uruguay and Jamaica. Planting of 172 acres of High CBD Hemp
is under way in Italy and Croatia for harvesting and processing to
produce high quality CBD isolate for sale in to the European
market. The company has also retrofitted an 87,000 square foot
greenhouse with light dep curtains and LED lights for micro
propagation of plant starters for the region.
CROP CEO, Michael
Yorke, stated: “CROP is
pleased with the expedience with which the team at World Farms
Corp. has approached a go public transaction. Divesting our Italian
and Jamaican assets to the team at World Farms has allowed CROP to
focus and expand its operations in the USA. CROP’s sales teams with
work closely with the team at World to assist them establishing
customer relationships to ensure World’s successful launch in to
the CBD market and the public markets as a whole.”
About CROP
Crop is publicly listed company trading under
symbol CROP.CSE. The company 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, 2,115 acres of Hemp CBD farms, and
a growing portfolio of common share equity in upcoming listings
within the cannabis space.
CROP has developed a portfolio of assets
including Canna Drink, a cannabis infused functional beverage line
and 16 Cannabis brands.
Company Contact
Michael Yorke – CEO and Director
E-mail: info@cropcorp.com
Website: www.cropcorp.com
Phone: (604) 484-4206
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 World Farms Project; the
technological effects of World Farms 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.
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