Smart Cannabis Corp. Subsidiary Signs Agreement to Build-Out Type 6 Cannabis Extraction Facility
SACRAMENTO, CA — (July 24, 2019) 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 cannabis manufacturers. Type 6 is for extraction using a mechanical method or non-volatile solvent.
Smart Cannabis (OTC PINK: 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
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Smart Cannabis Corp.