- Green Hygienics Holdings is planning to buy a San Diego-area ranch that occupies over 824 acres of flat grassland pasture
- The company is targeting the medical and recreational-use cannabis markets in California, which combine to make up the largest legal marketplace for cannabis sales
- GRYN anticipates that it could harvest 1,200 to 1,500 pounds of hemp per acre in two growing seasons each year
Premium cannabis cultivation company Green Hygienics Holdings Inc. (OTCQB: GRYN) announced on March 18 that it has opened escrow for the purchase of a ranch property near San Diego that will provide its growing operations with over 824 acres of flat, native grassland pasture sheltered by surrounding mountains (http://ibn.fm/ws21X).
The company is targeting the California medical and adult recreational-use markets for the plant whose growing popularity has driven changes in governmental drug-use policies on a global scale during recent years. California is the world’s largest marketplace for cannabis sales, although Canada’s nationwide full legalization of the plant last year is expected to eventually give it a boost over rivals during the next decade (http://ibn.fm/WaTXc).
Green Hygienics has a long-term strategy for expanding its portfolio throughout the United States and then advancing into the global arena, growing the company in size and revenues as it builds a large cultivation and extraction center in Canada. The company’s announcement about the potential for a cultivation site in Southern California heralds a major step toward its goals.
“Given that there is the potential to harvest 1,200 to 1,500 pounds of hemp per acre, we can produce two crops per year, and the price of hemp is at an average of $50 dollars per pound, this initiative has the potential to produce significant revenues for the Company,” Vice President of Business Development Matt Dole stated in the news release announcing the planned purchase. “This will also provide a base of operations for several other equally exciting initiatives. We have been working on this property acquisition for a very long time and are excited about the possibilities it opens up for the Company.”
The Potrero Ranch property includes 294,000 square feet of outbuildings that have been constructed on a concrete slab with triple phase power, water and gas services that make the structures ideal for use as greenhouses or storage, according to the company. The main building has a large built-in cooler, as well.
The land has an abundant water supply and the soil’s pH, as well as the altitude of the property, make the site “ideal for hemp cultivation,” the news release states.
As competition in the legal cannabis space increases among publicly-backed companies, GRYN believes that the future of commercial-sized plant cultivation for both hemp and cannabis hinges on using science to control the growing environment in order to deliver premium grades of product on a consistent basis at a comparatively low price.
For more information, visit the company’s website at www.GreenHygienicsHoldings.com
NOTE TO INVESTORS: The latest news and updates relating to GRYN are available in the company’s newsroom at http://ibn.fm/GRYN
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