The PacRoots and Rock Creek Farms 100-acre premium hemp joint venture commenced in late May after receiving the hemp cultivation license from Health Canada on May 22nd, 2020. The operations team spent several weeks working the fields and installing irrigation systems, before planting began in mid June.
"There are approximately 130,000 premium hemp CBD plants in the ground across two 50-acre parcels," the team with the company explains. "Seedlings were planted systematically in rows in the field after spending the first month in greenhouses, ensuring optimal growth while minimizing environmental influences in the early stage."
PacRoots and Rock Creek Farms deploy traditional and customized hemp farming techniques, while utilizing the rich native soil. "We optimize cultivation through these unique methods: our nutrients are custom formulated from raw salts for specific cultivars. We carry out systematic planting of cultivars that are stress-tested, planted young and hardy, measuring up to 18 inches, providing maximum opportunity for growth and resilience. Row compaction and mowing for weed control, enabling a selected harvest. Complex irrigation systems with direct nutrient and spring water delivery to each plant site," they further explain. "The hemp plantation is located in one of the best outdoor growing climates in Canada; the 'Golden Mile' in the South Okanagan Valley: also dubbed the Napa Valley of the North."
Harvesting is expected to begin October 15th, 2020 and the projected yield will be 500,000 - 700,000 pounds of biomass. 100% of the product from the plantation is under sales contract with a processor at fair market value.
t has been a busy 4 months since listing on the CSE in early May 2020. We are proud to have a healthy crop and remain bullish on delivering a premium high yielding product to our customer. In early 2020, we had a goal of becoming a revenue generator in 2020 as market appetite was evolving towards a cash flow scenario and realizing on projected forecasts as paramount to survival in this industry.
We are privileged to be involved with our strategic partners at Rock Creeks Farms, Phenome One and Speakeasy Cannabis Club as a production scenario in our first year of operation would not have been possible without the generous leasing of land, equipment, licenses, infrastructure, genetics, operations team, management and expertise to round off the joint venture.