Investors eye Uruguay as medical cannabis export hub
Very nearly six years after Uruguay fully legalized cannabis, investors are eyeing the South American nation as an export hub for medical cooking pot.
Silverpeak Life Sciences Uruguay is in talks with investment bankers to raise $35 million so that you can increase production fourfold this season. Silverpeak, that will be one of many country’s largest medical cannabis organizations, also intends to build a bigger removal laboratory in 2020.
Relating to Silverpeak Life Sciences CEO and U.S. cannabis investor Jordan Lewis, their desired and planned expansion involves about 25 tons next year. He stated that this expansion is being expected by them to come up with over $100 million in income.
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Investors have already been funds that are pouring Canada plus the U.S. because they seek to make the most of more cannabis that are favorable, that have created a really promising marijuana market that is legal. Uruguay’s cannabis economy, meanwhile, happens to be sluggish to produce inspite of the country being the very first in the whole world to legalize cannabis that are recreational. (more…)