Northern California is home the the vaunted "Emerald Triangle," comprised of Humboldt, Mendocino, and Trinity Counties and dubbed the largest marijuana-producing region in the United States.
It's also home to Hempire Company, a tenant grower of CROP Infrastructure Corp. (CSE:CROP) (OTCPK:CRXPF). From its headquarters to the north in Vancouver, British Columbia, CROP is focused on investing, constructing, owning and leasing greenhouse projects as part of providing turnkey real estate solutions for lease-to-licensed cannabis producers and processors.
CROP's portfolio presently holds two facilities in Washington State and one in Humboldt County, California.
Currently, the 8.5-acre Humboldt campus of Hempire consists of 10,000 square feet of greenhouse dedicated to production of medical cannabis. Operations are getting ready to expand substantially now that CalCannabis Cultivation Licensing, a division of the California Department of Food and Agriculture (CDFA), has greenlighted operations catering to recreational marijuana also.
Through the passing of California Proposition 215 in 2017, recreational pot use because legal as of January 1, 2018 in the state.
According to CROP, CDFA granted final approval to the addition of 20,000 square feet of greenhouse for the purpose of producing recreational marijuana. Hempire forecasts plant population to begin this month.
CROP shareholders are apparently glad to hear the news of production capacity tripling, as measured by the stock climbing 10.6% in early trading on Tuesday to 26 cents.
