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Wednesday, Jun 29, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Business

Avicanna subsidiary in Colombia sends first feminized seeds to Lesotho

This export marks the 16th international market entry for the company

Avicanna subsidiary sends first feminized seeds to Lesotho
Maseru, Lesotho capital. Photo by OER Africa via Wikimedia Commons

Canadian biopharmaceutical Avicanna Inc. (TSX: AVCN) (OTCQX: AVCNF) will send feminized cannabis seeds to Lesotho for the first time.

On Thursday, the Toronto-based biopharmaceutical said that its majority-owned subsidiary Marta Golden Hemp S.A.S. located in Colombia has completed the first commercial export of feminized cannabis seeds to the Kingdom of Lesotho.

The development, standardization and production of these seeds were all completed through Avicanna’s vertical integration at SMGH located in Santa Marta, Colombia.

The standardized and feminized seeds are a part of the Aureus product portfolio which includes CBD, CBG and THC seeds, resins or whole plant crude oils, cannabinoid distillates, and isolated cannabinoids.

Lesotho or the  Kingdom of Lesotho is a landlocked African country enclaved by South Africa with a population of around 2 million people.

Since 2017, Lesotho’s Ministry of Health licensed a South African company to grow cannabis in the country for medical and scientific purposes and by early 2018 the government had licensed five companies to produce it.

Three of these have been partially or fully acquired by Canadian licensed producers such as Verve Dynamics which is 30 per cent owned by Tilray Brands, Inc. (NASDAQ: TLRY) (TSX: TLRY), Daddy-Cann by Canopy Growth Corporation (TSE: WEED) (NASDAQ: CGC) and Bophelo Bioscience and Wellness PTY acquired by Halo Collective Inc. (OTCMKTS: HCANF).

Read more: Tetra Bio-Pharma partners with Avicanna to bring cannabinoid medical products to LATAM

Read more: Avicanna reports record $1M in sales

“We are happy to see the demand for our proprietary genetics grow internationally,” Avicanna President Lucas Nosiglia said.

The culmination of our seed development and standardization efforts provides our international partners with the opportunity to cultivate federally registered, reliable and consistent cultivars across various environments and landscapes.”

 

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