Cannabis is an important crop in Africa. African farmers produce enough on the continent to meet demand and to export small quantities to Europe. EXMceuticals grow large-scale, organic cannabis and specialize in the cultivation, processing, and export of psychotropic and non-psychotropic products. EXM received a research and development license for its TecLab facilities in Portugal in October.
In recent years, the seasonal strong phase has always lasted from mid-December to mid-March. There is a chance that this will be corrected through cannabis cultivation in Africa
The cannabis industry has been in a strong correction phase since March 2019. The sector seemed to bottom out in October, as we have seen this year.
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EXMceuticals and cannabis cultivation in Africa
EXMceuticals (EXM) focuses on the large-scale cannabis cultivation in Africa, particularly in Uganda, Malawi and the Democratic Republic of Congo.
The extracted cannabis products are to be sold, mainly to Europe and Canada, as pure CBD. Extraction and processing both take place in the EXMceuticals laboratory in Portugal.
Currently, 75 hectares are available for the cultivation of high-quality cannabis, which can be expanded to a gigantic 7,000 hectares.
This allows an extraction capacity of between 90,000 and 300,000 kg of raw material which is sent as oil for further processing to Portugal. There, cannabinoids and cannabis by-products are researched, refined, and sold.
License for cannabis research and development
An important milestone was announced on Oct. 23. EXMceuticals received a research and development license for its TecLab facilities in Portugal.
About three months after the completion of the pilot research and development plant, EXM received a research and development license for cannabis from INFARMED, the Portuguese National Agency for Drugs and Health Products.
This license will allow the company to make significant progress in its operations in Europe.
Previous milestones for cannabis cultivation in Africa
EXM will now import large quantities of cannabis and hemp oil from its own farms in Africa and then refine them locally according to the needs of its customers.
This new large-scale facility will enable EXMceuticals to export large quantities of refined cannabis products to the European Union and worldwide.
The next milestone is getting licensed for the export and sale of products manufactured in Portugal within the next three months. This event could become an important moment for the share price.
In Portugal, EXM has already started the construction and equipping of a large-scale finishing plant that will comply with the GMP standards of the European Union.
The company expects this new plant to be completed, commissioned and fully approved before the end of the first quarter of 2020.
Where does EXMceuticals grow its cannabis in Africa?
The large-scale cultivation takes place in Africa. Currently in Uganda, Congo and soon in Malawi.
The extraction of individual components from the cannabis plant, such as CBD and THC extracts, takes place in their laboratory and facilities in Lisbon, Portugal. It will be sold on the European market afterward.
According to company figures, the fully funded capacity is expected to reach 322,000 kg by 2020.
This would place EXMceuticals third in the world after Aurora Cannabis (550,000 kg) and just behind Canopy Growth (340,000 kg) ahead of Aphria (255,000 kg).
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