More success for Medcann’s medical cannabis business

A deal closed for Medcann’s medical cannabis and Botaniki Lab, through a binding contract. This is considered one of Colombia’s most profitable commercial operations to date.

It is a supply agreement for 600 tons of dry non-psychoactive cannabis flowers per year, which is equivalent to a cultivated area of ​​more than 100 hectares. The sowing will be done in the Colombian department of Meta.

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Medcann’s medical cannabis supply agreement

The agreement states that Medcann’s medical cannabis will periodically deliver the dried non-psychoactive cannabis flower to Botaniki Lab.

The latter will, in turn, be responsible for the extraction and commercialization of the derivatives. The main markets will be Europe and Latin America.

“In 2020 Medcann will gradually increase its cultivated area until it will exceed the 100 hectares needed to comply with the contract. It has been estimated that more than 200 sustainable jobs will be generated,” said Jon Ruiz, President of Medcann Pharma.

Medcann’s medical cannabis business is paving the way in Colombia

Botaniki Lab is a company that manufactures pharmaceuticals, medicinal chemicals and botanicals for pharmaceutical use.

Medcann was the first company in the country to obtain a quota for growing, processing and exporting psychoactive cannabis, which occurred in August 2019.

On a business level, Medcann Pharma Inc. is a Canadian holding company, with a presence in Colombia, through its affiliate Medicamentos de Cannabis SAS, and internationally through its affiliate Medcann EU SL which is a global supplier of organic cannabis derivatives.

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(Featured image by Kimzy Nanney via Unsplash)

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