Cannabis One Holdings has completed construction and build out of the second branded flower cultivation facility, also known as “Fox Street”.
"Fox Street is a state of the art, 13,000 sq ft craft quality cultivation facility that has the capacity to produce 4,800 lbs of flower per year, an increase in cultivation capacity of 200%," the team with the company explains. "This will allow the Company to achieve average monthly flower production of 600 lbs, leading to an annual top line Colorado cultivation revenue of USD$11,700,000 and a gross profit of USD$7,560,000 at the current Colorado per pound average of USD$1,500. First harvest is expected in March with monthly harvests planned thereafter."
"This facility was built to cater to the demand of the three specific strains that Cheech Marin selected for the Cheech’s Stash line. The Company further expects to drive margin growth through the expansion of its Cheech pre-roll and other craft cannabis lines that are currently sold in over 175 dispensaries across Colorado."
The Company has also begun plans to expand the Kingston cultivation facility from 8,500 sq ft to over 16,500 sq ft. "This expansion will more than double the production at Kingston, exceeding 400 pounds of flower per month or 4,800 pounds annually," they point out. "The expansion of Kingston will be funded through cash flow from operations."
"Cannabis One expects to exit 2020 with over 9,600 pounds per year of branded flower production from its Colorado operations with an exit 2020 cultivation run rate of USD$14,400,000 and a gross profit of USD$10,080,000."
Jeffery Mascio, CEO, and Joshua Mann, President of Cannabis One jointly commented, “With demand for our branded flower at an all-time high coupled with flower prices in Colorado that have steadily been climbing over the last 12 months, our entire team is extremely pleased to see the Fox Street facility come on line. With further expansion of our branded cultivation in Colorado, we expect to show strong cash flow generation as the year continues, allowing us to further expand our offerings within the state."
For more information:
Cannabis One Holdings
821 22nd St.,
Denver, CO 80205
Tel: 1-720-399-0599
[email protected]
cannabisone.life