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Industrial Hemp Project in Scio, Oregon

Hemp Project in Scio, Oregon

Covered Bridge Acres, LTD.

Joint Venture

Marijuana Company of America and Global Hemp Group (the Partners) have formed a joint venture to develop a high yielding CBD hemp cultivation project in Scio, Oregon. The Partners are committed to jointly invest a total of US$1.2 millioninto this project. The joint venture entity, Covered Bridge Acres LTD., is initially owned by 42.5% by both GHG and MCOA and 15% by the Project Manager.

A cornerstone of the project is the acquisition of a 109-acre agricultural property in Scio, Oregon. The property, located 70 miles south of Portland, is situated in the fertile Willamette Valley and has a history of hemp cultivation over the past two years. The farm is ideal for cultivating hemp as it contains a high level of organic matter in the soil and has an established irrigation infrastructure with sufficient water rights.

Operations at the farm are well underway. The project will employ a dual cultivation strategy in 2018; traditional outdoor orchard style cultivation and perpetual year-round harvest in greenhouses.This will optimize revenue generation throughout the year and minimize the impact of single crop harvesting in October when most other hemp CBD farms harvest and typically drive prices down.

Five greenhouses have now been purchased for the project. The first two 30ft x 120ft greenhouses are currently being installed and will provide an additional 7,200 sq. ft. of greenhouse space for the farm. The three remaining 42ft x 96ft greenhouses will begin installation before the end of May and when installed, these additional greenhouses will increase greenhouse space by a further 12,096 sq. ft., for a total of 19,296 active greenhouse space.

The initial nursery and propagation rooms for clones has recently been expanded to additional greenhouse as the team continues to produce clones for planting for the current 2018 season. In order to maximize planting density, an additional 20,000 high yielding CBD hemp clones are being purchased and will be delivered before the end of May to meet the targeted planting schedule of early June 2018.

Link to the Press Release

West Field After Plowing

East and west fields before tilling, greenhouses to be constructed

Framing completed on 1st 5,800 sq. ft. greenhouse

GHG and MCOA continue to develop a robust North American joint venture relationship. The partners initially joint ventured on hemp trials in New Brunswick in 2017, which has now expanded to 100+ acres of commercial production for 2018, and are now undertaking this project in Scio, Oregon, with the plan to continue to expand acreage in both the United States and Canada.