HOUSTON, TX / ACCESSWIRE / February 20, 2019 / Colombia is on its way to becoming one of the largest global exporters of medical marijuana.
“With a potential count more than double Canada’s, Colombia’s medical marijuana market is quickly gaining recognition as a legitimate force in the global cannabis industry,” notes Marijuana Business Daily. In addition, at current pace, Colombia could supply 44% of the global demand for medical cannabis, according to Andres Lopez, director of Colombia’s National Drug Fund, as quoted by Medical Marijuana Inc.
This appears to be the start of a sizable Colombian cannabis boom. As the story unfolds, it could very well be beneficial for stocks including Blueberries Medical Corp. (CSE:BBM)(OTC:BBRRF), Khiron Life Sciences Corporation (OTC: KHRNF) (TSX-V: KHRN), and Cronos Group Inc. (NASDAQ: CRON) as there are only a few publicly listed Colombian cannabis companies.
Given such opportunity, it’s no surprise that industry heavyweights are just beginning to push into the region. Canopy Growth, for example, recently unveiled its Canopy LATAM Corporation, and announced it acquired Spectrum Cannabis S.A.S.
Colombian-based producer, Blueberries Medical Corp. (BBM)(BBRRF), for example, just completed the acquisition of a 37-acre agricultural property in the Bogota Savannah. It also has the option to acquire or lease additional land contiguous to the Zipaquira Property for future project and capacity expansion, as well.
“The acquisition of this property and development of a purpose-built production facility is a significant step in Blueberries’ strategy to build the critical size required to effectively and efficiently supply the Colombian and international markets with high-quality and innovative cannabis products,” said Cristian Toro, CEO of Blueberries.
Interesting to note, the property is also about 24km from the company’s existing 107,000 sq. ft. fully operational cannabis greenhouse facility on its 7.4-acre Guatavita property.”
In addition, the company is also finalizing plans for a large-scale 1,300,000 sq. ft. cannabis greenhouse facility on the Zipaquira Property which is expected to yield nearly 72,000 kg of dried cannabis per year once completed.
For More Information on Blueberries Medical Corp., Click Here.
Khiron Life Sciences Corporation (KHRNF)(KHRN) was one of the first licensed medical cannabis companies in the country, owner of cultivation and production licenses for both low- and high-THC, which were awarded by the Ministry of Health and Social Protection, and Ministry of Justice.
In recent weeks, the company announced a partnership with U.S.-based Dixie to create a full-line of cannabis infused products to the Latin American market. “By combining Dixie’s market-ready portfolio of cannabis-infused products with Khiron’s established footprint throughout Latin America, the companies aim to capture first-mover advantage and establish leadership in one of the world’s fastest-growing cannabis markets. The agreement also creates a framework for the development of new products and brands tailored to Latin America, allowing Dixie and Khiron to take full advantage of opportunities resulting from cannabis legalization throughout the region,” notes Khiron.
In addition, the company recently closed a previously-announced memorandum of understanding (MOU) with Dayacann, holder of Chile’s first medical cannabis cultivation license. This will help expand on Khiron’s multi jurisdiction cultivation strategy, securing access to cannabis cultivation for the Company’s use in Chile, participation in clinical trials, and access to commercialize products to meet the needs of a market of 1.8 million patients.
For More Information on Khiron Life Sciences Corporation, Click Here.
Cronos Group Inc. (CRON)is another heavyweight pushing into Colombia, too. In fact, it just entered into a joint venture agreement with an affiliate of Agroidea SAS Colombia’s leading agricultural services provider with over 30 years of research, development and production operations. This partnership establishes a newly formed entity, NatuEra in Colombia that will develop, cultivate, manufacture and export cannabis-based medicinal and consumer products for the Latin American and global markets.
“By leveraging AGI’s expertise and Cronos Group’s cannabis know-how, NatuEra will enable Cronos Group to create a cultivation and manufacturing hub in Latin America for our global distribution channels in a manner that minimizes region-specific and execution risk,” said CEO Mike Gorenstein in the company’s press release.
For More Information on Cronos Group Inc.., Click Here.
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