Econic Crop Solutions Inc Announces that it has Commenced the Manufacturing and Assembly of the Next 10 Medical Cannabis Grow Pods

Rhea-AI Summary

On February 10, 2021, Econic Crop Solutions Inc, part of ZA Group (OTCMKTS: ZAAG), announced the start of manufacturing 10 medical cannabis grow pods. These pods will be deployed in three First Nations communities, enhancing production capabilities. The pods are expected to generate $100,000 in revenue each within three months, targeting $1,000,000 quarterly revenue per group of 10 pods. The company is experiencing strong demand, with requests for 100 pods from each of the communities involved. The strategic expansion aims to ensure controlled and efficient growth.

Positive

• Manufacturing of 10 grow pods commenced, indicating operational expansion.
• Projected revenue of $100,000 per pod within three months.
• Anticipated quarterly revenue of $1,000,000 per group of 10 pods.
• Strong demand from First Nations communities for additional pods.
• Ongoing production capability of 10 pods per month.

Negative

• None.

NAPLES, Fla., Feb. 10, 2021 /PRNewswire/ -- Econic Crop Solutions Inc, a Division of ZA Group Inc. (OTCMKTS: ZAAG) is pleased to announce that it has commenced the manufacturing and assembly of the next 10 medical cannabis grow pods. Once completed, these pods will be strategically placed within the first three First Nations communities where the company's previously reported grow operations are already underway. The company-owned pod manufacturing plant is located at 7607 Edgar Industrial Drive in Red Deer, Alberta. Plant manager, Brian Cruickshank, reported that the next 10 pods are being completed sequentially with the first ones ready for deployment in early March with all 10 ready for deployment by the end of March. He further stated that the manufacturing plant is able to produce these pods at a rate of 10 per month on an ongoing basis.

As previously reported, harvesting has been underway since late January on the three pilot demonstration pods for three separate First Nations communities. The results appear to be on target with anticipated revenues of $100,000 per pod within a three month growing season. The deployment of the 10 newly assembled pods starting in early March and continuing onward illustrates exponential growth potential even within the first year of the company's operations. At the same time, the orderly and incremental rollout of grow pod facilities allows the company to fine tune the grow facilities as it expands.

When asked to provide his comments, Wade Eno, CEO of Econic stated, "The excitement amongst our First Nations business colleagues to see these grow pods come into their communities is tremendous. Our manufacturing plant could not keep up with the volume demand we are experiencing. The three communities for which we are completing the first harvest have all requested 100 pods each and new requests from other First Nations communities are being processed weekly. We believe the rollout of 10 pods per month will give us the ability to respond quickly to any challenges along the way while we look forward to revenues of $1,000,000 per quarter from each group of 10 pods."

John Morgan, President of ZA Group, stated, "I support the strategy reflected in the comments by Mr. Eno. The medical cannabis industry has seen exponential growth in the past several years and the potential in this industry remains very high. The companies experiencing the best success are those which start small and then expand in a controlled fashion from the revenues accrued. Econics has assembled the team to build and operate the grow pods, and it has a demonstrated network of enthusiastic First Nations community partners that confirms unlimited expansion potential."  

 

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SOURCE Econic Crop Solutions Inc