Speakeasy Growers (CSE: EASY) this morning announced that it has begun transplanting over 90,000 clones to its outdoor fields, a process that is expected to take place over the majority of June. The company currently has approximately 60 acres of outdoor cultivation space.
Internal production projections provided by Speakeasy indicate that the company anticipates total yield from this years harvest to be approximately 70,000 kilograms, or 1,200 kilograms an acre, a figure the firm classifies as a bumper crop. Of this, the company expects to yield approximately 22,000 kilogram of flower and 48,000 kilograms of cannabis biomass.
Yields from multiple outdoor growers last year were largely estimated in the range of 400 to 1,200 kilograms per acre, however this was frequently based on dried flower only. Actual usable yields came in much lower overall, with firms ranging from 120 kilograms to 400 kilograms per acre.
The company intends to sell the yields from the harvest in the forms of dried flower, pre-rolls, and concentrates. Speakeasy currently plans to extract the biomass in bulk on site, which will be converted to distillate for bulk sales.
Unrelated to its outdoor crop, the company also identified that it has issued 635,944 common shares to settle debts owed to arms length creditors in the amount of $228,940. An additional 600,167 common shares have been issued to settle debts of $216,060 to a non-arms length party. A final 50,000 common shares were issued to an officer after the company achieved certain milestones.
Speakeasy Cannabis last traded at $0.49 on the CSE.
Information for this briefing was found via Sedar and Speakeasy Cannabis Club. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
