Smart Cannabis Corp. Subsidiary Signs Agreement to Build-Out Type 6 Cannabis Extraction Facility
24 Julio 2019 - 8:50AM
InvestorsHub NewsWire
Smart Cannabis Corp.
Subsidiary Signs Agreement to
Build-Out Type 6 Cannabis Extraction
Facility
SACRAMENTO, CA -- July
24, 2019 -- InvestorsHub NewsWire -- Smart Cannabis Corp.
(OTC:
SCNA) has announced that its primary subsidiary, Next
Generation Farming, has signed a deal to build-out a Type 6
cannabis extraction facility to operate sub-zero extraction methods
with winterization features. Additionally, the company will be
creating a software to setup and manage distribution on-site.
The extraction and distribution facility is in
Northern California and will have an initial extraction capacity of
up to 380 pounds per day with the capability of expanding to 1,180
pounds per day as the market dictates. The freezerless winterization system has capacity of taking 250 gallons
of extracted
material to -50 degrees
fahrenheit in under 3 hours. To start, this Next Generation
Farming client will be set to recognize up to $20,000,000 in annual
gross revenue in the year 2020 with the capacity to surpass
$65,000,000 in annual gross revenue. Smart Cannabis CEO and
President, John Taylor, stated, "We are very excited to start this
project for our client and will send more detailed updates as
permits are issued."
The California Manufactured Cannabis Safety Branch
offers four main license types for extraction using a mechanical
method or non-volatile solvent. for cannabis manufacturers. Type 6 is
Smart Cannabis (OTC:
SCNA) is a public equity corporation advancing the agriculture
and cannabis industries and growing through acquisition, strategic
alliances, and proprietary intellectual property. The company's
wholly owned subsidiary, Next Generation Farming Inc., provides
turnkey, automated, commercial greenhouses systems that efficiently improve yields and
decrease water consumption for cultivators of organic food and
cannabis crops. The company websites are http://smartcannabis.com https://sapinvestments.com https://smartcannabis.com/nextgenfarming
Disclaimer: The
Company relies upon the Safe Harbor Laws
of 1933, 1934 and 1995 for all public news releases. The company
may make forward-looking public statements concerning its expected
future operations, performance and other developments. Such
forward-looking statements are estimates that reflect the
company's best judgment based upon current information. All
investments involve risks and uncertainties, and there can be no
assurance that other factors will not affect the accuracy of such
forward-looking statements. It is impossible to
identify all such
factors. Factors which could cause actual results to differ
materially from those estimated by the company include, but are not
limited to, government regulation; managing and maintaining growth;
the effect of adverse publicity; litigation; competition; and other
factors which may be identified from time to time in the company's
public announcements.
Contact:
Smart Cannabis Corp.
info@smartcannabis.com
(424) 732-7646
Smart Cannabis (PK) (USOTC:SCNA)
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