VANCOUVER, British Columbia, June 13, 2018 (GLOBE NEWSWIRE) — Crop Infrastructure Corp. (CSE:CROP) (OTCMKTS:CRXPF) (“Crop” or the “Company”) announces that it has secured The Depository Trust Company (DTC) eligibility for its shares traded in the United States under the symbol CRXPF. The Company’s common shares traded on the OTC Market in the United States, under the symbol “CRXPF” are Depository Trust Company (“DTC”) eligible, effective June 12, 2018. The DTC will facilitate electronic settlement of transfers of its common shares in the United States.
Michael Yorke, CEO of Crop states: “Crop is registering its shares with DTC as a fundamental step towards establishing the company with the American investment community. The DTC’s electronic settlement of our shares is critical to having an effective market. Our goal is to graduate to a more senior exchange in the future, and expand our business endeavors globally.”
The DTC is a subsidiary of the Depository Trust & Clearing Corporation and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered “DTC eligible.” This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers. Securities that are not DTC-eligible are often not accepted for trading at many brokerages due to the amount of paperwork and manpower required to execute and settle trades, thus making it more difficult for a significant percentage of investors to access the shares. Additionally companies that are approved for DTC electronic transfers often experience higher trading volumes in their stock given the additional accessibility and availability of shares for trading.
About CROP Infrastructure Corp.
CROP Infrastructure Corp. is engaged in the business of investing, constructing, owning and leasing greenhouse projects as part of the provision of turnkey real estate solutions for lease-to-licensed cannabis producers and processors offering best-in-class operations. CROP’s portfolio of projects includes greenhouse facilities in California and Washington State.
For more information about CROP Infrastructure Corp.
Michael Yorke – Director
Phone: (604) 484-4206
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein in the United States. The securities described herein have not been registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities law and may not be offered or sold in the “United States”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration requirements is available.
The securities of the Company are considered highly speculative due to the nature of the Company’s business. The Company is indirectly involved through its business in both the medical and recreational cannabis industry in the United State where local state law permits such activities. As a result of the conflicting views between state legislatures and the federal government regarding cannabis, investments in cannabis businesses in the United States are subject to inconsistent legislation and regulation and therefore there are risks of federal government enforcement. Marijuana-related practices or activities, including the cultivation, possession or distribution of marijuana, are illegal under U.S. federal law.
Certain statements included in this press release constitute forward-looking information or statements (collectively, “forward-looking statements”), including those identified by the expressions “anticipate”, “believe”, “plan”, “estimate”, “expect”, “intend”, “may”, “should” and similar expressions to the extent they relate to the Company or its management. The forward-looking statements are not historical facts but reflect current expectations regarding future results or events. This press release contains forward looking statements. These forward-looking statements are based on current expectations and various estimates, factors and assumptions and involve known and unknown risks, uncertainties and other factors.
Statements about the Company’s business, plans and other statements, are all forward-looking information. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, anticipated costs and the ability to achieve goals, that general business and economic conditions will not change in a material adverse manner, that the U.S. federal government will not prosecute people and companies who are involved directly or indirectly in the legal state cannabis industry, that financing will be available if and when needed and on reasonable terms, and that third party contractors, equipment and supplies and governmental and other approvals required to conduct the Company’s business will be available on reasonable terms and in a timely manner. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks.
Factors that could cause the actual results to differ materially from those in forward-looking statements include, failure to obtain regulatory approvals, increase in construction and operating costs, government regulations, changes in laws and the enforcement of such laws, in particular the laws of the Unites States, lack of tenants at the Company’s joint-venture facilities, loss of key employees and consultants, the continued availability of capital and financing, general economic conditions, competition, litigation, market or business conditions. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. These statements should not be read as guarantees of future performance or results. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those implied by such statements. These assumptions, risks and uncertainties include, among other things, including, but not limited to: regulatory and political risks, in particular those of the United States; change in laws, regulations and guidelines; limited operating history; competition; risks inherit ant in an agricultural business; vulnerability to rising energy costs; environmental and employee health and safety regulations; lack of demand of the Company’s services; dependence on suppliers and skilled labour; reliance on key inputs; operating risk and lack of initial insurance coverage; unfavourable publicity or consumer perception; operation permits and authorizations; risks associated with acquisitions; risks associated with loaned money; financial projections may prove materially inaccurate or incorrect; management of growth; difficulty implementing business strategy; costs of maintaining a public listing; conflicts of interest; litigation; share price fluctuations; limited market for securities; lack of dividends; environmental laws and regulations; economic environment; global economy risk; going-concern risk; and financial risk exposures.
The Company assumes no responsibility to update or revise forward-looking information to reflect new events or circumstances unless required by law. Readers should not place undue reliance on the Company’s forward-looking statements. Neither the CSE nor its regulation services provider accepts responsibility for the adequacy or accuracy of this news release.