Captiva Verde Land Corp. Announces Solargram Farms' Completion Of Successful New Brunswick Outdoor Cannabis Harvest
Captiva Verde Land Corp. Announces Solargram Farms' Completion Of Successful New Brunswick Outdoor Cannabis Harvest With One Of The Highest Reported THC And Terpene Values In Canada
Captiva Verde Land Corp. (CSE: PWR) (the "Company"), is extremely pleased to announce that Solargram Farms Corporation ("Solargram"), a holder of a Federal Health Canada License to cultivate, test, harvest and sell cannabis, has successfully completed its first large scale cannabis outdoor farm harvest with record THC and terpene results.
First Year Harvest Results
The Solargram cannabis harvest began on September 17th and was completed on October 30th with final processing completed on November 27, 2020. The Solargram team is credited with a final harvest of approximately 13,000 plants over 350,000 square feet of outdoor farm grown canopy resulting in 15,000 kg of wet cannabis. This harvest is ranked as one of Canada's top single largest, and lowest cost outdoor legal cannabis crop in Canadian history and is also the largest outdoor cannabis crop ever grown and harvested in New Brunswick.
Very Low Cost of Production Results
Exceeding expectations, the year one total grow cost of production, including direct labor and direct materials, were CDN $0.05/gram wet; $0.22/gram dry which ranks as one of the top tier, lowest cost of cannabis production facilities in the Canadian cannabis industry.
Cannabis is a commodity within the CPG (consumer packaging goods) industry. Lowest cost and highest quality wins. Solargram is a major market disruptor and differentiator as its high quality, very low cost of production, allows its planned high cannabinoid full spectrum and distillate oil products to be sold at prices that are produced at a fraction of its competitors' cost of production. This competitive advantage will allow Solargram to become a leader in the Canadian cannabis market place commencing in 2021.
HIGH THC REPORTED - Independent Laboratory Test Results
Solargram produced and harvested approximately 35 genetics of which its R2 strain, representing 65% of its year one outdoor cannabis crop, produced a COA (certificate of analysis) from an independent laboratory supplier at 21.53% THC and 2.7% terpenes.
The independent THC laboratory results received for the top five genetics produced, representing the harvested crop include:
R2 (21.53%); Bitter Cherry
Punch (18.81%); Gelatoz (17.59%);
Black Garlic (18.86%); New York Purple Diesel (19.66%)
These significant high THC results rival and/or exceed indoor cannabis grown facilities in Canada. Independent test results also validate the crop is pesticide and heavy metal free.
100% of the Solargram shares are held in an escrow account to be transferred to Captiva Verde in exchange for 35 Million Captiva Verde shares subject to a tight pooling agreement, and subject to Health Canada approving an in-process application by all the Captiva Verde Officers and Directors to pass a security clearance and CSE approval.