$LVVV Livewire Ergogenics Provides Update on Estrella River Farms in Paso Robles and Makana Ola Farms in Humboldt, California
https://www.globenewswire.com/news-release/20...ornia.html
Anaheim, CA, June 06, 2022 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically sun-grown cannabis products for medical and recreational adult-use in California, today provides an update on its Estate Grown Weedery project on Estrella Ranch in Paso Robles and Makana Ola Farms in Humboldt, California.
Estrella River Farms is now entering the third year of careful planning and focused development, along with intense environmental and State inspections. This effort has yielded the premier model for the legal and environmentally responsible cultivation of organic-style, sun-grown high-quality cannabis products in California.
The Current Snapshot
Biomass from the 2021 harvest has been converted to distillate and will be offered in one-gram cartridges throughout California starting this month via our co-branding arrangement with Phire Labs
Acre One on Estrella Ranch has been populated with double the amounts of plants than last year and are tracking well
The bulk of Acre One will feature the best performing strains conducive to the micro-climate we experienced during last year’s harvest and many other exotic strains requested by distributors.
The hoop houses have been modified to provide increased output
Acres Two and Three are awaiting approval from the Department of Cannabis Control
The clones for additional acreage are growing well at the nursery and standing by for delivery
Makana Ola Farms in Humboldt is a 10,000-sf cultivation site, and plants are in the ground and off to an excellent start for the season
Bill Hodson, CEO of LiveWire, comments, “The industry-wide drop in flower pricing last year in California made us explore alternative outlets for the harvest from Estrella River Farms. We took advantage of the opportunity to maximize yield by partnering with the premier manufacturer in Southern California to manufacture and distribute co-branded products into existing distribution channels. This relationship will provide brand recognition for Estrella River Farms and introduce our exceptional product directly to consumers. The biomass from Estrella River Farms supplied to Phire Labs produced considerably higher than average THC content, purity, and visual appeal, higher than the top-shelf product supplied by indoor cultivators. Our first harvest has proven that the team at Estrella River Farms produces an outstanding product.”
“The 2022 harvest will feature two additional acres of cultivation, and the expansion will quadruple the output from last year. We are anxiously awaiting approval from the State for the additional, ready-to-plant two acres on Estrella Ranch. California permitting procedures only allow single, one-acre licenses per property, but applicants can apply for multiple 10,000sf licenses to cultivate larger footprints. This regulation was implemented to protect small farms from large corporations entering the State and dominating the cultivation landscape. But the ability to ‘stack’ licenses allow farms to increase their cultivation area if their land use permit from their respective counties allows the additional canopy, as the permit for Estrella Ranch does. Applying for multiple 10,000sf licenses entails redundant work, time-consuming, and more expensive than simply applying for a single acre grow, but these are the rules we must live by.”
Mr. Hodson continues, “Estrella River Farms applied for nine 10,000sf cultivation licenses the last week of 2021. It has been over five months in the review process at the Department of Cannabis Control. The team has responded immediately to any questions or clarifications asked by the reviewer at the State. All nine licenses are reviewed individually, and although the administrative portion of the application is basically ‘cut and paste,’ the scientific review for the canopy areas is again reviewed down to the smallest detail. It is a complex and time-consuming process. Still, the team has diligently responded to all questions and complied with all rules and regulations. We now expect approval of the entire batch of nine new licenses any day. Estrella River Farms will have a complete three-acre harvest in 2022.”
Progress Report
Since we began this journey to build the ultimate California cannabis facility, the industry has drastically changed, impacting especially smaller companies. Caused by an oversupply of cannabis combined with the volume of the still-thriving illicit supply chain, flower prices have dropped significantly. This has caught many smaller farms by surprise, and the stock prices for publicly traded companies have dropped significantly, hitting the larger SPACS especially hard.
LiveWire and its subsidiary companies have prepared for this scenario over the last two years. They have established a unique business model focused on exceptional quality, not quantity, and on creating a unique consumer experience. We believe that only well-managed companies with a unique business model, exceptional product quality, low overhead, minimal investment, and debt load will be able to survive and eventually, once the market conditions improve, shine brightly. We believe that during the last three years, we have gathered the necessary experience and taken the proper steps to be one of these companies.
https://www.globenewswire.com/news-release/20...ornia.html
Anaheim, CA, June 06, 2022 (GLOBE NEWSWIRE) -- LiveWire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically sun-grown cannabis products for medical and recreational adult-use in California, today provides an update on its Estate Grown Weedery project on Estrella Ranch in Paso Robles and Makana Ola Farms in Humboldt, California.
Estrella River Farms is now entering the third year of careful planning and focused development, along with intense environmental and State inspections. This effort has yielded the premier model for the legal and environmentally responsible cultivation of organic-style, sun-grown high-quality cannabis products in California.
The Current Snapshot
Biomass from the 2021 harvest has been converted to distillate and will be offered in one-gram cartridges throughout California starting this month via our co-branding arrangement with Phire Labs
Acre One on Estrella Ranch has been populated with double the amounts of plants than last year and are tracking well
The bulk of Acre One will feature the best performing strains conducive to the micro-climate we experienced during last year’s harvest and many other exotic strains requested by distributors.
The hoop houses have been modified to provide increased output
Acres Two and Three are awaiting approval from the Department of Cannabis Control
The clones for additional acreage are growing well at the nursery and standing by for delivery
Makana Ola Farms in Humboldt is a 10,000-sf cultivation site, and plants are in the ground and off to an excellent start for the season
Bill Hodson, CEO of LiveWire, comments, “The industry-wide drop in flower pricing last year in California made us explore alternative outlets for the harvest from Estrella River Farms. We took advantage of the opportunity to maximize yield by partnering with the premier manufacturer in Southern California to manufacture and distribute co-branded products into existing distribution channels. This relationship will provide brand recognition for Estrella River Farms and introduce our exceptional product directly to consumers. The biomass from Estrella River Farms supplied to Phire Labs produced considerably higher than average THC content, purity, and visual appeal, higher than the top-shelf product supplied by indoor cultivators. Our first harvest has proven that the team at Estrella River Farms produces an outstanding product.”
“The 2022 harvest will feature two additional acres of cultivation, and the expansion will quadruple the output from last year. We are anxiously awaiting approval from the State for the additional, ready-to-plant two acres on Estrella Ranch. California permitting procedures only allow single, one-acre licenses per property, but applicants can apply for multiple 10,000sf licenses to cultivate larger footprints. This regulation was implemented to protect small farms from large corporations entering the State and dominating the cultivation landscape. But the ability to ‘stack’ licenses allow farms to increase their cultivation area if their land use permit from their respective counties allows the additional canopy, as the permit for Estrella Ranch does. Applying for multiple 10,000sf licenses entails redundant work, time-consuming, and more expensive than simply applying for a single acre grow, but these are the rules we must live by.”
Mr. Hodson continues, “Estrella River Farms applied for nine 10,000sf cultivation licenses the last week of 2021. It has been over five months in the review process at the Department of Cannabis Control. The team has responded immediately to any questions or clarifications asked by the reviewer at the State. All nine licenses are reviewed individually, and although the administrative portion of the application is basically ‘cut and paste,’ the scientific review for the canopy areas is again reviewed down to the smallest detail. It is a complex and time-consuming process. Still, the team has diligently responded to all questions and complied with all rules and regulations. We now expect approval of the entire batch of nine new licenses any day. Estrella River Farms will have a complete three-acre harvest in 2022.”
Progress Report
Since we began this journey to build the ultimate California cannabis facility, the industry has drastically changed, impacting especially smaller companies. Caused by an oversupply of cannabis combined with the volume of the still-thriving illicit supply chain, flower prices have dropped significantly. This has caught many smaller farms by surprise, and the stock prices for publicly traded companies have dropped significantly, hitting the larger SPACS especially hard.
LiveWire and its subsidiary companies have prepared for this scenario over the last two years. They have established a unique business model focused on exceptional quality, not quantity, and on creating a unique consumer experience. We believe that only well-managed companies with a unique business model, exceptional product quality, low overhead, minimal investment, and debt load will be able to survive and eventually, once the market conditions improve, shine brightly. We believe that during the last three years, we have gathered the necessary experience and taken the proper steps to be one of these companies.
