CannaVision, Inc. Puerto Rico (“CVI PR” or the ”Company”) announces it has officially signed a 10-year lease agreement with a prominent land owner for 743 acres of some of the best farmland in the Lajas region. Theresa Galdony, CEO/Chairman of CannaVision US states “One of Puerto Rico’s greatest assets is its land, and we are committed to utilizing it, spurring on responsible Hemp farming for economic growth and improve the quality of life for the Puerto Rican citizens. This expansion, along with receiving our most recent ‘Bona fide Farmer’ status, allows us to realize even greater tax advantages and incentives. It has created an environment that makes Puerto Rico one of the best places to grow Hemp and do business. We are genuinely excited to see what the future holds for CVI and Puerto Rico.”
CVI’s new 743-acre Hemp farm consists of 400 acres of organic soil (black earth) enriched with a long, deep rooted history of growing hay and alfalfa, leaving a nitrogen-rich field overseen by farmers with decades of experience. The property also features an existing sustainable irrigation system, which sources water from two five-million-gallon reserve ponds. In times of drought, a recent agreement with Puerto Rico Waterworks franchise allows CVI access to water at a significantly discounted cost. To increase harvest yield, CVI utilizes the latest technology in Hemp agriculture and has secured an agreement with Harvest Gold to not only utilize their silica-based conditioner, but also biophotonics and Bio 520 Pods to ensure organic amplification. In a continuing effort to produce the perfect crop, CVI PR will work directly with IAS Laboratories, known for their extensive experience in working with Cannabis in the field and analyzing hundreds of samples with successful results.
With all that has been accomplished, CVI PR is eager to start preparing the land for its first harvest, but under the current requirements of the CDC to prevent spread of COVID-19, it will have to wait until the threat is over and ‘business as usual’ is restored. Steven Previch, President of CVI PR, has been diligent in his efforts to establish CVI’s footprint in Puerto Rico. Difficult as it is managing the day-to-day when in Puerto Rico, performing these duties remotely from the United States mainland during a pandemic is even more challenging. He states, “We strive not to just improve and advance our company’s growth in every way, especially during these difficult times, but to help evolve the Industry and the world around us. We are using our initiative along with common sense to make the necessary decisions that are constantly adapting in this fluid environment—proven not just in words, but through our ongoing actions. We have always believed that our obligation extends beyond our equity holders, board members, officers, clients, and employees to a much larger story—the care and preservation of life.”