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SACRAMENTO, Calif., July 24, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- 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: 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.
Smart Cannabis Corp.