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CannabCo Pharmaceutical Corp. Colombia S.A.S. (CannabCo Colombia), a Colombiabased cannabis cultivator and manufacturer of medical cannabis products, is pleased to announce that it has completed a definitive agreement for One Million sq/ft of completed greenhouses for immediate cannabis production. The project consists of a total of 25 Hectares of land north of Bogota in the Cundinamarca area with additional expansion opportunity.

The generational farm has a successful 40 year track record of profitable production and sales and sports a complete operational infrastructure with 160+ farm workers, greenhouses, admin buildings, workshops, microbiology labs and employee support buildings including a cafeteria. The farm currently has supply agreements consisting of major big box chains around the globe and is now being converted to cannabis production with the exception of 1 hectare.

CannabCo selected the property for its perfect growing conditions, clean and plentiful water supply and sustainable organic farming practices.  The farm is ICA certified (Colombia’s “Agriculture Institute”) and follows GACP and GPP practices for production. The current labour force will be repurposed to cannabis production with conversion to cannabis cultivation taking place one to two hectares at a time.

Genetics supplied for the project were selected by CannabCo and are specific to the environmental conditions of the region in order to optimize yields and productivity. The project is estimated to produce in excess of 200,000 kg per annum of dried flower.

All product will be shipped to and processed at CannabCo’s state of the art extraction facility currently being constructed to EUGMP standards and located 20 min away from the farm, and 30 minutes outside of the country’s capital city of Bogota.

“The close proximity to CannabCo’s extraction and processing facility and the already active and successful farming infrastructure made this the perfect addition to CannabCo’s operations.” said Joseph Palumbo, the country General Manager.  “We were impressed with the efficiency of the operation as well as the technologies deployed for water collection and conservation.  The farm is a model for the region and one of the most successful operations of its kind in Colombia.” commented Joseph.

Recently CannabCo signed an annual supply agreement for 11,000 kg of cannabis oil with an estimated value in excess of $70MM USD per annum consisting of both psychoactive and non-psychoactive product.  “The company intends to continue its cultivation and provisioning efforts by expanding to meet the overwhelming demand.” said Joseph.  “Colombia intends to be the world’s primary source of supply for medical cannabis and CBD, and CannabCo intends to be the major player in the Colombian cannabis market”.

 

SOURCE CannabCo Pharmaceutical Corp. Colombia S.A.S