Canopy development enters African market with $29-million purchase of Lesotho-based cannabis producer

Canopy development enters African market with $29-million purchase of Lesotho-based cannabis producer

Canopy Growth Corporation has just entered its 5th continent along with its acquisition of African cannabis company Daddy Cann Lesotho PTY Ltd., which trades as “Highlands.”

Canopy Growth’s acquisition of this Lesotho-based Highlands markings the Canadian cannabis company’s first rung on the ladder into Africa. Highlands has a permit to develop, make, hold, supply, export, import, and transportation cannabis services and products.

Why Lesotho?

The Kingdom of Lesotho is a high-altitude mountainous nation that boasts a lot more than 300 times of sunlight every year. Put another way, it offers the perfect moisture and perfect growing conditions for greenhouse cannabis cultivation.

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Lesotho can be strategically positioned for Southern Africa’s upcoming medical cannabis industry, including a market that is potential Southern Africa, which will be in the act of developing a unique cannabis that are medical and which includes a populace of 55 million. Continuar leyendo