The GCP 1-1 tenant finished its first week of harvesting on Friday. 164 plants were harvested producing 250 lb of flower and 80 lb of trim or 1.5 lb of flower per plant, exceeding the initial projection of 1.00 lb per plant.
Flower is stored in a humidity controlled, light deprived, drying facility, see lower right picture below.
The crop looks excellent with more trichomes per plant, THC, than was produced by the tenant last year.
Specimens will be sent to a lab on Tuesday of next week for testing and results should be back by the end of the week.
After the lab results are returned, 1-2 more weeks of cure will be required and then the product will be sold.
The GCP 1-1 tenant intends to sell its flower at $900 lb and trim at $150 lb as introductory prices.
The GCP 1-1 tenant is now in full production mode whereby all bays are being utilized. Harvested bays are sanitized and replanted with approximately 160 new plants each week.
The GCP 1-2 tenant expects to take occupancy this week if the landlord can reach agreement about repairs and construction required.
The GCP 1-2 tenant has a dual license which allows them to grow medical and recreational plants.
Extraction equipment is scheduled to start arriving next week and installation completed by June 15th.
McGrow is locating a "white label" manufacturer of vape pens to create and package pens utilizing the tenants oil.
Last week, Tim Beall and I met at the Pueblo facilities with potential medical marijuana licensees from Arkansas.
We agreed to assist them in applying for a license in exchange for cash consulting fees and 10% interest in the license, if they are successful.
We also asked for a right of first refusal to purchase an additional 25% of the ownership of the license.
McGrow Marketing, LLC, a majority owned sub of McGrow, LLC, has developed a wholesale marketing program for its tenants.
We were able to identify and purchase:
303 Best Bud, as a phone number
BestBud.Net, as a domain name
Best Bud, as a trademark
McGrow expects to launch an advertising campaign on June 7, 2017 for product delivery by the GCP 1-1 tenant starting June 14, 2017.
The campaign targets local independent dispensaries and emphasizes wholesale access of high quality discoun product enabling them to compete with larger dispensary chains.
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