Integrated Cannabis Solutions Inc. (OTCMKTS:IGPK) has decided to acquire the 200-acre test grow plantation in Wisconsin after yields from 20 acres proved to be fruitful. The acquisition of the estate is a move aiming at putting the company in a stable position regarding real assets.
What necessitated the move?
The farm is estimated to cost around $1.5 million of the investment that forms part of the three subdivisions of the total 160 acres that can be tilled. The choice of the farm is a result of its suitability having been productive in producing hemp and tobacco. Equally the availability of a stream in the farm and pumping stations that have water rights made it appealing for the company because the soils are nutrient rich and will require minimal watering.
Projections for the test harvest indicate that it is likely to generate an adequate amount of money to cover the cost of acquisition of the farm and funding of future farm operations. Preliminary estimates of the harvest indicate that they are likely to yield close to $8 million worth which is considered to be enough to fund the next crop in the three subdivisions as well as fund construction a state of the art CBD laboratory. The farm has an existing storage barn and an additional space to construct the CBD lab that will be used to convert the harvest into CBD.
Concerns from Wisconsin farmers
Wisconsin farmers have had worries about farming hemp because of the nonavailability of a processing place for the crop. As a result, this year saw only very few people farm the plant as compared to those issued with licenses. There are plans to build greenhouses on 40 acres of land which will be housing planting seedlings. If they get the timing right there is a possibility of having two planting seasons in a year, a move that is likely to boost farm revenues.
There are high prospects for Wisconsin farmers because the Farm Bill is likely to become law. This bill will give Integrated Cannabis Solutions a head start as a leader as they will have the storage capacity of hemp as well as isolating it into CBD.