Wide Open Agriculture Reports Maiden Industrial Hemp Crop Grown At Smart Shade House

Wide Open Agriculture Reports Maiden Industrial Hemp Crop Grown At Smart Shade House

Wide Open Agriculture Ltd (ASX: WOA) declared to the market on 2 April 2019, that the maiden crop of industrial hemp has been planted at its shade house at Arthur River, situated in Western Australia’s Wheatbelt. This would be the first crop to be grown under protected cropping conditions in the West Australian region.

WOA is an agriculture and food company. It is into the regeneration of ecosystems and revitalisation of communities at Wheatbelt, West Australia. The company produces premium vegetables and has a food brand called Food for Reasons™. WOA purchases land and in partnership with regenerative farmers aids in the restoration of the ecosystem. It makes sure that productivity continues for a long-term duration.

The company was listed on ASX on 6 July 2018 following its $5 million oversubscribed IPO.

Sponsored ad by Kalkine

WOA’s Food for Reasons™ food brand is developing food products with main ingredients sourced from West Australia’s regenerative farmers. The food brand concentrates on the healthy snacking and is seeking to reduce the value chain among West Australian farmers and customers.

WOA’s Growing Program will trial three industrial hemp varieties at its fully-automated shade house to determine growth rates in winter conditions in the Wheatbelt weather.

Dr Ben Cole, MD, WOA commented that the program is a thrilling opportunity for the company; the reason being, shade house would enable WOA to produce industrial hemp in an extremely controlled environment. The shade house would also help in removing key climate risks, resulting in enabling the testing to go on across the year.

He further said that trials taking place in the winter season, would allow the company to utilize regenerative growing practices for industrial hemp. The company has an objective to provide customers with regeneratively produced hemp products that have been cultivated in healthy soil.

The Growing Program would also measure soil moisture and fertiliser regimes. It will evaluate 2 innovative approaches to boost seed yields. The main indicators would be plant growth rates and seed yield. The industrial hemp generates a high-protein seed which contains omega-3. Omega-3 can be utilized in food, non-dairy milk and production of oil.

Regenerative Agriculture practices include farming and grazing. Out of a few of its other benefits, the practice reverses climate alteration, by applying the technique of rebuilding soil organic matter, and restoring degraded soil biodiversity. The outcome could be seen in carbon drawdown and enhancement of the water cycle.

In the recently released Interim Financial Report for the half year ending 31 December 2019, the company recorded loss of $614,127 for 1H FY19 as compared to $612,006 in PCP. The company’s balance sheet reported $5.07 million Total Assets and $1.02 million Total Liabilities.

The stock of the company last traded at a price A$0.180 on 1 April 2019. The company has a market capitalization of around A$12.7 million, with approximately 70.58 million shares outstanding. The stock has fared quite well in the past few months. It has generated a yield of 20% in the last six months, while its YTD stands at 24.14%. Its 52-weeks high was noted at A$0.210, and its EPS stands at -0.009 AUD.


This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Facebook Comments
Join Our Forum

We help you to connect with investors and people connected with the stock market.

6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report


Please enter your comment!
Please enter your name here