California-based Ikänik Farms, Inc. just took a giant leap forward with its cannabis business in Colombia.
The seed-to-sale company announced Friday it is the first in Colombia to receive Good Manufacturing Practices-Pharma certification for both its cultivation and manufacturing facility.
The new certification gives Pideka SAS, a subsidiary of Ikänik Farms, the ability to export pharmaceutical-grade cannabis extract products to European markets from its Casa Flores facility.
“The GMP Pharma certification continues to demonstrate the commitment to quality and controls implemented at our Casa Flores facility, to supply international market with pharmaceutical grade cannabis,” Ikänik Farms CEO Brian Baca said in a press release.
Ikänik Farms has acquired more than 1.9 million square feet of cultivation and production space in Colombia. Photo courtesy of Ikänik Farms
Analysts say Colombia will be a game-changer for the industry as the country eases its cannabis laws. According to reports, Columbia can produce a gram of weed for well below 50 cents because of the country’s climate and low labour costs.
Corona-based Ikänik Farms said it is focused on bringing its cultivation expertise from California to produce high quality cannabis in Colombia, but at a fraction of the price compared to North American growers.
The company said it plans to establish distribution partnerships in the European Union by the third quarter of 2020.
Read more: California-based Ikänik Farms enters Colombia with acquisition of cannabis company Pideka
Ikänik’s acquisition of Pideka last October gives it the most available hectares for cultivation in Colombia than any other competitor in the cannabis business, Baca said.
For example, its Latin American subsidiary owns an outdoor cultivation site called Campo Esmeralda, which sits on a total of 3,200 acres. The company will have 1.9 million square feet of production and manufacturing space by 2021, according to a press release.
Over the last several months, the company has been focused on finishing construction of its 80,000 square foot facility Casa Flores, located near Bogotá.
GMP-Pharma certification is internationally recognized as a system for ensuring that products are consistently produced and controlled according to stringent quality and safety standards.
The company said the new certification is proof that its attention to detail is paying off.
“Our team has worked extremely hard in Colombia to advance our overall mission,” Ikänik president of international operations, Borja Sanz de Madrid, said. “And we’re nearing an inflection point that will open us up to European markets. Receiving the GMP-Pharma certification continues to reflect the company’s focus on excellence.”
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Ikänik Farms forging ahead
The GMP-Pharma certification was issued to Pideka by SGS, one of the world’s leading inspection, verification, and testing companies.
The certification comes on the heels of several other key advancements for Ikänik‘s Colombian operations.
This month, Pideka announced it successfully completed a pesticide, heavy metal and microbiological testing of flower samples grown at Casa Flores.
Pideka also received good agricultural and collection practice for medicinal plants certification from the Colombian government for Casa Flores in December. This move allows Ikänik to export cannabis seeds and biomass into the E.U.
Back on home soil
Back in California, Ikänik Farms is close to finishing construction on its cultivation sites in Adelanto and Sacramento. The company said it expects the first harvest for both facilites in the first quarter of 2020.
The company will also be launching a retail cannabis shop in Palm Springs this year that will feature a consumption lounge.
Ikänik said it is aiming to list as a publicly traded company in the second quarter of this year.
The Ikänik Farm team brings decades of expertise in R&D, cultivation, retail, branding and corporate finance and plans to bring its inclusive California positive vibes around the globe through the cannabis plant.
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Top image courtesy of Deposit Photos.
Disclosure: Ikänik Farms is a Mugglehead advertiser
jared@mugglehead.com
@JaredGnam
