medcann Colombia makes history, once again, obtaining the first and only quota granted by the Colombian government for the processing and export of psychoactive cannabis.
An affiliate of its Canadian Holding Company medcann Pharma Inc., medcann Colombia, a leader in the industry of cannabis for medical use and research, received on 16 August the first and only quota granted by the Colombian government for the processing and export of psychoactive cannabis, confirming the company’s leadership in the Colombian industry.
The historic and courageous step taken by the Colombian government
“We are very happy with the first quota granted to medcann by the Colombian government for the processing and export of psychoactive cannabis. We celebrate this historic and courageous step taken by the Colombian government which represents a great achievement for medcann, as it positions the company in a privileged position compared to competitors, some of them publicly listed” said Jon Ruiz, president of the company.
In 2018, medcann became the first and only company to obtain the registration of psychoactive varieties of cannabis.
“Today we have 12 varieties registered and ready for cultivation with the quota obtained. We expect to have product for export before the end of the year.”
Proof that the regulatory framework is solid
This is the first time the Colombian government approves the processing of psychoactive cannabis for export, making it a historic event for the country and a proof that the regulatory framework is solid and allows to take full advantage the industry will bring to the country.
“The approval of the psychoactive quota for medcann is the confirmation of the great work done by the company, meeting all the requirements of the regulatory framework and a decisively positive message of the Government which is willing to promote the development of the medicinal cannabis industry in Colombia, under tight regulatory provisions, which could become one of the main players of a global market estimated at $146 billion (~€132 billion) by 2025, with the potential for job creation never seen before,” stated Ruiz.
The world of medcann
medcann has established its outdoor agricultural and extraction operations in the flattest area of Colombia. The eastern plains that account for more than 1/3 of the country, betting on a 100% natural and sustainable agroindustry operation with a very low cost per gram of dried flower and with the fastest and most cost-efficient expansion ability.
With more than 800 hectares available upon demand developed through a significant number of small growers, medcann’s operations generate a positive social impact with sustainable formal employment.