News Americas, NEW YORK, NY, Fri. Aug. 24, 2018: Several North American companies have begun pushing early into the Caribbean and Latin American region as several governments look towards expanding and possibly decriminalizing marijuana, especially medical cannabis. Here are four companies already moving into the region’s ganja market:
Aphria Inc. (TSX: APH) (OTC: APHQF)
Ontario-based Aphria made a serious push into the Caribbean and into South America in July, by announcing business plans in both Colombia and Jamaica. In Jamaica, Aphria now takes control of Marigold Projects Jamaica Ltd., which also holds several licenses to cultivate, process, and sell cannabis products and services for therapeutic, medical, and scientific purposes.
Canopy Growth Inc. (NYSE: CGC) (TSX: WEED)
Near the beginning of July, cannabis giant Canopy Growth made waves through a potential plan that could cost more than USD $150 million in order to target Latin America’s emerging medical marijuana market. Through a deal that could be worth up to approximately USD $96 million in Canopy stock, the company acquired Spectrum Cannabis Colombia S.A.S., which not only came with an ideal growing site, but also the required national licenses to produce, manufacture, and export cannabis derivatives. Moving forward, the subsidiary will now build the required facilities for “value-added production and sales” in Colombia and the surrounding region.
GSRX Industries Inc. (OTC: GSRX)
Closing out the month of July, GSRX made progress on a new medicinal cannabis dispensary in Puerto Rico. Under its wholly-owned subsidiary Project 1493 LLC, GSRX will build what will be its eight medical cannabis dispensary on the island. Based out of Dorado, Puerto Rico, GSRX has cannabis dispensaries in both California and Puerto Rico, but is allegedly in the process of expanding its business to include its own cultivation, extraction, manufacture and delivery of cannabis and cannabinoid products.
CROP Infrastructure Corp. (OTC: CRXPF) (CSE: CROP)
Spanning 25 acres or 1,089,000 sq feet, CROP’s 30 percent owned Italian Joint Venture partner XHemplar Italia recently planted high-CBD ‘Cannabis Light’ plants. The fertile agricultural landscape of Jamaica recently proved alluring enough for CROP Infrastructure Corp. (OTC: CRXPF) (CSE: CROP) to enter the market, and add its third country to the company’s portfolio. Through a joint venture agreement, Crop acquired a 49% interest in a zero-cost lease of a 217,000 sq ft property ideally situated for cannabis production and extraction. Located upon five acres of some of Jamaica’s most fertile prime agricultural land, Crop secured its newest site in the Westmoreland Parish region.