BOGOTA, July three, 2019 /CNW/ – CannabCo Pharmaceutical Corp. Colombia S.A.S. (CannabCo Colombia), a Colombia primarily based cannabis cultivator and manufacturer of healthcare cannabis merchandise, is pleased to announce that it has completed a definitive agreement for One particular Million sq/ft of completed greenhouses for quick cannabis production. The project consists of a total of 25 Hectares of land north of Bogota in the Cundinamarca location with further expansion chance.
The generational farm has a prosperous 40-year track record of lucrative production and sales and sports a full operational infrastructure with 160+ farm workers, greenhouses, admin buildings, workshops, microbiology labs and employee help buildings such as a cafeteria. The farm at the moment has provide agreements consisting of main huge box chains about the globe and is now getting converted to cannabis production with the exception of 1 hectare.
CannabCo chosen the house for its ideal expanding circumstances, clean and plentiful water provide and sustainable organic farming practices. The farm is ICA certified (Colombia’s “Agriculture Institute”) and follows GACP and GPP practices for production. The present labour force will be repurposed to cannabis production with conversion to cannabis cultivation taking location 1 to two hectares at a time.
Genetics supplied for the project had been chosen by CannabCo and are precise to the environmental circumstances of the area in order to optimize yields and productivity. The project is estimated to create in excess of 200,000 kg per annum of dried flower.
All solution will be shipped to and processed at CannabCo’s state of the art extraction facility at the moment getting constructed to EUGMP requirements and situated 20 min away from the farm, and 30 minutes outdoors of the country’s capital city of Bogota.
“The close proximity to CannabCo’s extraction and processing facility and the currently active and prosperous farming infrastructure created this the ideal addition to CannabCo’s operations.” stated Joseph Palumbo, the nation Basic Manager. “We had been impressed with the efficiency of the operation as nicely as the technologies deployed for water collection and conservation. The farm is a model for the area and 1 of the most prosperous operations of its sort in Colombia.” commented Joseph.
Lately CannabCo signed an annual provide agreement for 11,000 kg of cannabis oil with an estimated worth in excess of $70MM USD per annum consisting of each psychoactive and non-psychoactive solution. “The firm intends to continue its cultivation and provisioning efforts by expanding to meet the overwhelming demand.” stated Joseph. “Colombia intends to be the world’s principal supply of provide for healthcare cannabis and CBD, and CannabCo intends to be the main player in the Colombian cannabis market”.
About CannabCo Pharmaceutical Corp. Colombia S.A.S.
CannabCo Colombia is a Colombia primarily based complete-service cannabis firm with cultivation projects in many regions across the nation. The company’s principal extraction plant is situated 30 minutes outdoors the capital city of Bogota. The firm will course of action each psychoactive and non-psychoactive cannabis and Hemp flower for the production of THC and CBD oil for the healthcare cannabis market place. The Company’s state of the art production facilities will have the capability of generating a wide variety of finish merchandise to meet emerging market place provide specifications for Colombia’s evolving cannabis market, as nicely as worldwide export. The facility is pursuing EU GMP status enabling access to the underserviced worldwide pharmaceutical market place. The firm at the moment has many social projects as element of its ethical requirements and is committed to the highest high-quality production of healthcare grade cannabis merchandise in the market. The firm is vertically integrated controlling all elements of cultivation, extraction, solution manufacturing, and distribution of its healthcare merchandise enabling it complete manage more than the higher high-quality of its finish merchandise. The firm intends to be the biggest producer and manufacturer of THC/CBD primarily based merchandise on a worldwide scale using Colombia as its operating base.
Forward Seeking Statements
This press release might include specific “forward-seeking information” and “forward-seeking statements” inside the which means of applicable securities legislation. All facts contained herein that is not historical in nature might constitute forward-seeking facts. Forward-seeking statements might be identified by statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other equivalent expressions. Actual benefits and developments might differ materially from these contemplated by these statements. Despite the fact that CannabCo Colombia believes that the expectations reflected in forward-seeking statements in this press release are affordable, there can be no assurance that such statements will prove to be correct. Future events and benefits could differ materially from these set forth in, contemplated by, or underlying the forward-seeking statements in this press release.
Supply CannabCo Pharmaceutical Corp. Colombia S.A.S