$LVVV Livewire Ergogenics Affiliate Estrella River Farms Receives Approval for Nine Additional Licenses to Increase Canopy Area on Estrella Ranch to over 130,000 SQFT
https://www.globenewswire.com/news-release/20...-SQFT.html
Anaheim, CA, July 12, 2022 (GLOBE NEWSWIRE) -- Livewire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, branding, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically grown cannabis products for medical and recreational adult-use in California; today announced that its affiliate Estrella River Farms (ERF) has been approved for nine additional cultivation licenses from the California Department of Cannabis Control for the expansion of the cultivation area on Estrella Ranch by two additional acres.
The expansion will increase the canopy area on Estrella Ranch to over 130,000 sqft. to accommodate increased production and begin the process for the 2022 harvest. The approval of these additional licenses completes the goal that we had set for cultivating the equivalent of 3 acres of sungrown cannabis on Estrella Ranch. Executing these licenses is expected to meet the goal of drastically increasing the capacity for Estrella River Farms.
Bill Hodson, CEO of Livewire Ergogenics, states, "The licensing process for additional acreage on Estrella Ranch was painfully cumbersome, lengthy, and expensive. The due diligence process by the Department of Cannabis Control was as intense as for the first acre of cultivation. Although the process took much longer than anticipated, we support the intense due diligence to meet all the legal and environmental requirements. Many companies that entered the initial process light-heartedly are now failing this difficult and expensive process. Our research shows that approximately 49% of California cultivation permits have expired or have been surrendered this past year. Successfully concluding the new application process and proceeding with a strong focus on the most environmentally friendly footprint possible makes Estrella River Farms stand out from the competition and should provide a solid base for the business for years to come."
During the cultivation and harvesting of the initial one-acre harvest, the crew has gathered valuable experience about the positive impact of the exceptional microclimate around Estrella Ranch to produce exceptional quality cannabis. Our processing partners confirmed that Estrella River Farms is growing some of California's best quality sungrown cannabis in the market far superior to anything out there, including indoor. We certainly had hoped for that when we chose Estrella Ranch in Paso Robles as our central location and home of the Estate Grown Weedery project. We are surrounded by hundreds of world-renowned vineyards that take advantage of the exceptionally favorable micro-climate to produce their famous wines. We are happy to continue this tradition by applying it to a cannabis cultivation process based on our tractor-less farming principles, aiming for the best sungrown cannabis quality in the State. We will be able to take full advantage of our expansive setup once Federal regulation finally allows interstate transactions. Everybody will want California Cannabis, and' 'we'll be ready to deliver."
https://www.globenewswire.com/news-release/20...-SQFT.html
Anaheim, CA, July 12, 2022 (GLOBE NEWSWIRE) -- Livewire Ergogenics Inc. (OTC: LVVV), a company focused on acquiring, branding, managing, and licensing special purpose real estate properties conducive to producing high-quality, handcrafted, and organically grown cannabis products for medical and recreational adult-use in California; today announced that its affiliate Estrella River Farms (ERF) has been approved for nine additional cultivation licenses from the California Department of Cannabis Control for the expansion of the cultivation area on Estrella Ranch by two additional acres.
The expansion will increase the canopy area on Estrella Ranch to over 130,000 sqft. to accommodate increased production and begin the process for the 2022 harvest. The approval of these additional licenses completes the goal that we had set for cultivating the equivalent of 3 acres of sungrown cannabis on Estrella Ranch. Executing these licenses is expected to meet the goal of drastically increasing the capacity for Estrella River Farms.
Bill Hodson, CEO of Livewire Ergogenics, states, "The licensing process for additional acreage on Estrella Ranch was painfully cumbersome, lengthy, and expensive. The due diligence process by the Department of Cannabis Control was as intense as for the first acre of cultivation. Although the process took much longer than anticipated, we support the intense due diligence to meet all the legal and environmental requirements. Many companies that entered the initial process light-heartedly are now failing this difficult and expensive process. Our research shows that approximately 49% of California cultivation permits have expired or have been surrendered this past year. Successfully concluding the new application process and proceeding with a strong focus on the most environmentally friendly footprint possible makes Estrella River Farms stand out from the competition and should provide a solid base for the business for years to come."
During the cultivation and harvesting of the initial one-acre harvest, the crew has gathered valuable experience about the positive impact of the exceptional microclimate around Estrella Ranch to produce exceptional quality cannabis. Our processing partners confirmed that Estrella River Farms is growing some of California's best quality sungrown cannabis in the market far superior to anything out there, including indoor. We certainly had hoped for that when we chose Estrella Ranch in Paso Robles as our central location and home of the Estate Grown Weedery project. We are surrounded by hundreds of world-renowned vineyards that take advantage of the exceptionally favorable micro-climate to produce their famous wines. We are happy to continue this tradition by applying it to a cannabis cultivation process based on our tractor-less farming principles, aiming for the best sungrown cannabis quality in the State. We will be able to take full advantage of our expansive setup once Federal regulation finally allows interstate transactions. Everybody will want California Cannabis, and' 'we'll be ready to deliver."
