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Core One Labs Inc. (CSE:COOL)(OTC:CLABF) reported Friday that its subsidiary, Core Isogenics Inc., has finalized its second and third on-going harvests at the Adelanto facility.
What Happened
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The company said these harvests accounted for 20% of flower room capacity, and it projected that recurring harvest yields will generate around 40 to 60 pounds of top-grade flower and small bud per harvest.
Why It Matters
According to the management’s further estimates, the company’s recurring revenue from cultivation operations should soon surpass the current operational costs of the facility.
"Just about two weeks ago we announced our first harvest and now our second and third. I am very pleased with our team and of the ongoing top grade flower that we are producing,” Brad Eckenweiler The CEO of Core One Labs said in a statement.
“This week our team demonstrated their dedication at a level rarely found in any work force, through snow and holidays with smiles and attitudes of accomplishment they completed the second and third harvests. It is extremely gratifying to see this project taking solid operational form as the corner stone of the COOL business model. This facility will allow us to consistently produce high quality products in flower, Rêveur and in CannaStrips from this point on."
Core One LAbs Price Action
Core One’s shares closed Thursday’s market session 0.06% lower at 32 cents per share.
Related Links
Core One Labs Subsidiary Enters Into Project With Reiziger Holland To Boost Harvest Yields
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.