Livewire Ergogenics Provides Update on Estrella River Farms in Paso Robles and Makana Ola Farms in Humboldt, California
LiveWire Ergogenics (OTC: LVVV) has provided an update on its Estate Grown Weedery project in California. Entering its third year of development, the project aims to cultivate high-quality, organically sun-grown cannabis. The company has doubled its planting capacity, with biomass from the 2021 harvest now converted to distillate products. Approval is pending for additional cultivation areas. CEO Bill Hodson highlights the company’s shift in strategy due to falling cannabis flower prices, focusing on premium product quality and brand recognition through partnerships.
- Estrella River Farms has doubled the number of plants compared to last year.
- Biomass converted from 2021 harvest will be sold as high-quality distillate products.
- Expansion to two additional acres is expected to quadruple output for the 2022 harvest.
- Strategic partnership with Phire Labs aims to enhance brand visibility and consumer access.
- Delays in approval for Acres Two and Three from the Department of Cannabis Control.
- Ongoing challenges due to significantly decreased flower prices in the California market.
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.
About Estrella Ranch Estate Grown Weedery™
Estrella Ranch is a historic property in Paso Robles, the center of the world-renowned California wine country. Through its affiliate Estrella Ranch Partners, LLC., the Company has begun transforming this stunning property into the world's first "Estate Grown Weedery," developing it into a facility to cultivate high-end organic cannabis products. Estrella Ranch has a long-standing history, was once owned by the Hearst family, and is considered among the finest Ranches in California and the gem of the California Central Coast. Estrella Ranch is located near Paso Robles and Santa Barbara, halfway between Los Angeles and San Francisco, and is surrounded by hundreds of world-renown wine yards. The Estrella Ranch location is the central hub for all Livewire operations. Don't hesitate to contact Investor Relations if you want to schedule a tour.
About Makana Ola
The Makana Ola Farms is a 40-acre parcel with a 9,900 sqft cultivation area located in the heart of Humboldt County in Northern California with sufficient water and electricity facilities. Processing, including drying and curing, occurs within a 560-square-foot structure, with further trimming and packaging executed offsite at a licensed processing facility. Makana Ola is a guarded secret of proper marijuana horticulture quietly grown amongst the giant redwoods. Cannabis has been an integral part of the Humboldt culture for decades. Growing organic cannabis for a living is a local tradition practiced and handed down from generation to generation, with a clear focus on reducing environmental impact and generating the smallest carbon footprint possible.
About LiveWire Ergogenics Inc.
The Company focuses on acquiring, managing, and licensing well-qualified cannabis real estate locations to establish fully compliant and permitted facilities to produce cannabis-based products and establish relationships for the state-wide distribution of these products in California. This includes developing and licensing high-quality organic cannabinoid-based products and services and creating the "Estrella Grown Weedery™" brand via its affiliate companies Estrella Ranch Partners and Estrella River Farms. LiveWire Ergogenics does not produce, sell, or distribute products that violate the United States Controlled Substances Act. For more information about LiveWire Ergogenics, visit www.livewireergogenics.com. For non-material updates, follow LiveWire Ergogenics on Twitter @livewireLVVV, or go to www.stockwatchindex.com/livewire-ergogenics.
Forward-Looking Statements
This release contains forward-looking statements within Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or the Company's future performance. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date. In evaluating such statements, prospective investors should carefully review various risks and uncertainties identified in this release, the Company's Social Media postings, and matters set in the Company's SEC filings. These risks and uncertainties could cause the Company's actual results to differ materially from those indicated in the forward-looking statements.
| LIVEWIRE ERGOGENICS, INC 1600 North Kraemer Blvd. Anaheim, CA 92806 714-740-5144 www.livewireergogenics.com | MARKET AWARENESS Stockwatchindex, LLC 442-287-8059 www.stockwatchindex.com info@stockwatchindex.com | LIVEWIRE INVESTOR RELATIONS Tristan Cavato (805) 835-2415 ir@livewireergogenics.com info@livewireergogenics.com |
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FAQ
What is the latest update on LiveWire Ergogenics (LVVV) Estate Grown Weedery project?
How has LiveWire Ergogenics (LVVV) responded to falling cannabis flower prices?
What progress has been made at Estrella River Farms by LiveWire Ergogenics (LVVV)?
When can we expect approval for additional cultivation areas from LiveWire Ergogenics (LVVV)?
