Cannabis Consortium recently announced its 15-acre industrial hemp farm will begin harvesting in October. The harvesting and drying will take place in October and the sale will take place in November. Cannabis Consortium finished construction on its drying barn that will be used to house the plants on poles while they dry after being harvested. We were able to get a sneak peak at the progress of their much-anticipated drying barn, as you can see from the pictures below.
The next harvest is roughly weeks away from harvest and just over 2 months from being sold. 3rd solid revenue stream for BDCI which will show on the 4th Qtr Report. Most interesting, Cannabis Consortium revealed that it is in the final stages of finalizing an agreement to acquire an additional 800 acres, as CEO Matt Dwyer explains,
Cannabis Consortium is finalizing the agreement for an additional 800 acres about 10 miles away from its 600-acre site giving the company the ability to plant 1400 acres in 2019. Both farms will have the same yield of $100,000 per acres planted. Once Cannabis Consortium installs a Distillate system for Hemp the yield per acre could climb to a multiple of 3.”
As with the first farm after a soil test is completed a small crop will be planted to test the viability of the land then a larger section will be planted. The key benefit of the second farm is the ability to plant all year round. The pictures below show an updated picture of the crops with their newly purchased watering and planting machines.
This comes after a recent press release in which Mr. Dwyer gave details on the next harvest, and when we can expect the sale of the harvest to take place.
Global currently has two buyers lined up to purchase the Bio-Mass for a minimum of $1.5 million and as much as $3 million exceeding the initial estimate per acre. The difference in sale price is dependent on the final weight of the plants after the harvest. Global and Green Matter will split the proceeds 50/50 once the Bio-Mass is sold in November. For Global this test proves the land is viable and profitable while providing a third stable revenue stream for BDCI. By the time of the sale in November Global will have consolidated the farm into BDCI and the revenue and income will appear on the 4th quarter report for BDCI. BDCI will rely on its accounts to guide them on how best to flow the various revenue streams into the parent Company and maximize its net income.