Financialnewsmedia.com News Commentary
PALM BEACH, Florida, July 2, 2019 /PRNewswire/ -- Colombia is just beginning to transform itself into a multi-billion-dollar cannabis producer. In time, growers estimate that the country could capture as much as a fifth of a global market that could be worth $40 billion a year, according to Reuters. Helping, Colombia's climate full of long periods of sunlight, great temperatures, and consistent rainfall are a boon for cannabis. That's opening a wide range of opportunity for companies including MYM Nutraceuticals Inc., (CSE:MYM) (OTCQB:MYMMF), Blueberries Medical Corp. (CSE:BBM)(OTCQB:BBRRF), Khiron Life Sciences Corporation (OTCQB:KHRNF)(TSX-V:KHRN), and PharmaCielo Ltd. (OTCPK:PHCEF)(TSX-V:PCLO), and Charlotte's Web Holdings Inc. (CSE:CWEB) (OTCQX:CWBHF).
MYM Nutraceuticals Inc. (CSE:MYM)(OTCQB:MYMMF) BREAKING NEWS: MYM Nutraceuticals Inc. just announced its subsidiary in Colombia, Colombia Organica S.A.S has signed agreements in principle to cultivate both THC and CBD-rich cannabis with independent farmers for an initial five acres. Cannabis will be cultivated by farmers who will be licensees under the existing Colombia Organica cannabis cultivation licenses. The first crops cultivated on the initial five acres will function as test crops with the intention to add subsequent acreage. The climate in Colombia is ideal for cultivating cannabis, with the growing season being year-round it's possible to harvest three crops of THC or CBD-rich cannabis annually. "Our team in Colombia has begun to execute on our plan to cultivate both THC and CBD-rich cannabis in South America," said Howard Steinberg, CEO of MYM. "The strategy of extending our licenses to neighbouring farmers to cultivate cannabis will serve to increase our biomass supply that we intend on processing and exporting to the global market."
Colombia Organica is committed to extending its licenses to the independent farmers for an initial period of five years. The farmers will be responsible for all costs associated with cultivation from seed to sale. Colombia Organica agrees to purchase the harvested biomass at a price to be determined at the time of delivery based on the average market price at that time. For more news for MYM please visit: https://www.financialnewsmedia.com/news-mym/
Other cannabis-related developments from around the markets include:
Blueberries Medical Corp. (CSE:BBM)(OTCQB:BBRRF) and SLANG Worldwide Inc. entered into a memorandum of understanding to develop a strategic partnership through which Blueberries may license SLANG's extensive portfolio of renowned cannabis brands and leverage SLANG's industry leading know-how and intellectual property to process and formulate cannabis products in Colombia and Argentina. The MOU was negotiated at arm's length. Blueberries and SLANG will also collaborate on the commercialization of products into other Latin American countries as regulatory framework is implemented. Latin America is among the world's fastest-growing cannabis markets with expected cannabis spending of $12-billion (U.S.) by 2028 (Prohibition Partners) and an estimated 68 million potential medical cannabis patients currently (Quintiles IMS).
"SLANG is a global leader in the cannabis-based consumer packaged goods industry, with an extensive portfolio of brands, including some of the best-selling cannabis products in the world. Offering these high quality and internationally recognized brands will assist Blueberries in leveraging early-mover advantage and capturing market share in the vast Latin American market," stated Patricio Stocker, Chief Executive Officer of Blueberries. "SLANG's industry leading experience, depth of expertise and expansive network will create additional value for Blueberries as we continue to offer high quality proprietary products to consumers across diverse markets in Latin America and globally, and position Blueberries as a leader in this new market segment as it continues to evolve."
Khiron Life Sciences Corporation (OTCQB:KHRNF)(TSX-V:KHRN) has completed the acquisition of NettaGrowth International Inc. previously announced on January 25, 2019 and April 9, 2019, and its wholly-owned subsidiary Dormul S.A., a Uruguayan company that has obtained the first license to produce and export medical cannabis with THC for commercialization in Uruguay. As consideration for the acquisition of NettaGrowth, Khiron has issued 8,498,821 common shares to the shareholders of NettaGrowth at a deemed price of $1.61 per common share. Alvaro Torres, Khiron CEO and Director, comments "Closing of the acquisition of Nettagrowth represents an important milestone for Khiron. With this deal we expand our geographic footprint into a market we know well, and secure access to potential patients in Uruguay and in Southern Brazil.
PharmaCielo Ltd. (OTCPK:PHCEF)(TSXV:PCLO) just announced that it is trading on the
OTC Markets under the symbol "PHCEF." "With our recently announced acquisition agreement with Creso Pharma (ASX:CPH) there is increased attention and interest in our stock. Trading on the OTC will increase access for U.S. and international investors, providing greater liquidity and better access to capital. As we move forward building a global medicinal cannabis company, we will work to provide easy access and liquidity for investors in all jurisdictions," said David Attard, Chief Executive Officer of PharmaCielo Ltd.
Charlotte's Web Holdings Inc. (CSE:CWEB)(OTCQX:CWBHF) just unveiled its newest CBD product line - hemp extract-infused CBD Gummies – made with whole-plant extract from its prized hemp genetics and featuring synergistic functional ingredients to support specific health related functions including everyday stress, sleep, and recovery from exercise or active lifestyles. Available in a variety of flavors, gummies are the latest addition to the Company's expanding line of CBD hemp-extract products. "Gummies are a very popular edible format as a result of convenience and measurable consumption," stated Kelsey Morrison, Associate Director of Product Development at Charlotte's Web. "This new delivery format from Charlotte's Web provides an easy bite-sized way to ingest full-spectrum hemp-extract CBD."
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