Business
Indoor Harvest Announces Cannabis Production Pilot Conclusion
Indoor Harvest Announces Cannabis Production Pilot Conclusion.
About this update from Indoor Harvest Corp.
[{"type":"text","content":"\n\n HOUSTON, Dec. 18, 2017 (GLOBE NEWSWIRE) -- Indoor Harvest Corp. (OTCQB:INQD), a developer of personalized cannabis medicines and a provider of advanced cultivation methods and processes for the cannabis industry, announces the results from its Cannabis Production Pilot Agreement with Canopy Growth Corporation which has concluded.\n \"We're excited to release the full results of our cannabis pilot on our three year anniversary of the pilots launch. We'd like to thank Canopy Growth's R&D team for their efforts and look forward to any feedback from the current internal economic pilot,\" stated Rick Gutshall, Interim-CEO of Indoor Harvest. On December 18, 2014, the Company entered into a Cannabis Production Pilot Agreement (“Cannabis Pilot”) with Canopy Growth Corporation (formerly Tweed Marijuana Inc.), a Canadian company. Canopy Growth Corporation (\"Canopy Growth\") is a Toronto Stock Exchange listed company. Its wholly owned subsidiaries Tweed Inc., Tweed Farms Inc. (formerly Prime1 Construction Services Corp.), Bedrocan Canada and Spectrum Cannabis are licensed producers of medical cannabis in Canada. The principal activities of Canopy Growth are the production and sale of cannabis through its wholly owned subsidiaries as regulated by the Marihuana for Medical Purposes Regulations. The Cannabis Pilot was broken into two separate phases, as follows: During Phase One, tests were conducted using prototypes provided by Indoor Harvest. The purpose of Phase One was to test the initial design and evaluate the root mass development of various strains of cannabis chosen by Canopy Growth. Two trials were conducted during Phase One. Phase One recorded the growth rate, phytocannabinoid production, water usage, fertilizer usage and labor using the aeroponics systems provided by Indoor Harvest. During Phase Two, Canopy Growth was given the option to request Design Build services to be provided by Indoor Harvest. Indoor Harvest provided these services free of charge and provided projected costs associated with the manufacture and installation of new aeroponic designs (“New IP”). Canopy Growth was then provided the option to purchase equipment from Indoor Harvest based on these projected costs. Phase One Cannabis Pilot Trial 1: Strain Ghost Train Haze In March 2015, we began a first trial under the Cannabi...