Enterprise

EXMceuticals’ plans for cannabis cultivation in Africa

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.

Hemp.im is a mobile application that provides you with the most current and up-to-date marijuana news and other cannabis industry information while covering various wide-ranging topics throughout the industry.

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.

EXM received a license for research and development of cannabis products from the National Drug Agency of Portugal. (Source)

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.

The extracted cannabis products from EXM are to be sold mainly to Europe and Canada as pure CBD. (Source)

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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(Featured image by ToniEtyang via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Hemp.im, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in wallstreet:online, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Hemp.im assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Hemp.im is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Sharon Harris

Sharon Harris is a feminist and a part-time nomad. She reports about businesses primarily involved in tech, CBD, and crypto. She started her career as a product manager at a Silicon Valley startup but now enjoys a new life as a personal finance geek and writer. Her primary aim is to provide readers with a new perspective on the overlapping world of finance and technology.

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