CannaPharmaRx, Inc. (OTC PINK:CPMD), a future leader in ultramodern, highly efficient cannabis production facilities in Canada, announced today they have agreed with their new head grower.
The agreement will allow CannaPharmaRx to have access to premium genetics and immediately begin preparing for cultivation at the Cremona facility. The facility, formerly known as the Aurora Mountain facility, was completed in 2015. The facility is capable of an output of 6,000 kg/year plant. The Aurora facility is billed as the world’s first-ever custom-built cannabis growth site.
CannaPharmaRx will have the certification of EUGMP (European Union Good Manufacturing Practice and GACP (Good Agricultural Practice). The company may sell products from its facilities in Europe and Israel, take the raw product from other facilities, trim, dry, and package and sell in the same markets.
The agreement will allow the company to plant crops immediately upon the facility being relicensed. CannaPharmaRx anticipates completing the first harvest and sales during early Q3 2022 with estimated annual revenue of over $30 million from this facility.
“This agreement is an important step towards our production and distribution model. We are on track to begin signing distribution agreements for our first harvest,” stated Nick Colvin, CEO of CannapharmaRx.
About CannapharmaRx, Inc.
CannapharmaRx is focused on the acquisition and development of state-of-the-art cannabis growth facilities in Canada. CPMD is in discussions with other companies regarding potential acquisitions. CannapharmaRx’s business strategy is to become a leader in the high-quality and low-cost production of cannabis through the development, acquisition, and enhancement of existing facilities. CannapharmaRx is committed to operating high-quality facilities utilizing the latest technology in combined heat and power generation to ensure we are a low-cost producer of cannabis.
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