Stem Holdings has been awarded a research license to cultivate cannabis in the Caribbean country of St. Vincent & the Grenadines (SVG). The research is conducted in collaboration with and under the supervision of the Bureau of Standards of SVG and the Cannabis Research and Development Unit within the Ministry of Agriculture Forestry, Fisheries, Rural Transformation, Industry, and Labor.
“We believe SVG offers an extremely rich agricultural environment capable of producing and exporting some of the highest quality medicinal cannabis in the world,” said Stem Director of Business Development Dr. Geoff Ostrove. “We are thrilled to be working alongside their local government and growers to deploy our expertise in cannabis cultivation and extraction, along with the latest growing technology and genetic intellectual property. Our goal is to establish a successful infrastructure that will benefit the Caribbean community and our shareholders.”
According to the company, the license permits Stem Holdings to cultivate cannabis locally for research and development, prior to the issuance of new licenses under the newly established Medical Cannabis Authority. Under the order, Stem Holdings will construct a modern research facility which will house the cultivation of a variety of high cannabidiol (CBD) and low tetrahydrocannabinol (THC) cultivars. "SVG and Stem will utilize a variety of agronomic methodologies, including traditional outdoor, greenhouse, and indoor cannabis, to analyze which approach would be most productive for the Caribbean country," they say.
In December of 2018 SVG passed a bill in Parliament to decriminalize cannabis for medical and scientific research purposes. The research license awarded to Stem permits unlimited cultivation of both CBD Hemp and cannabis in the Caribbean country. Stem’s facilities in SVG are projected to be operational by the first calendar quarter of 2020 and all the raw material produced will be processed, packaged, and distributed under Stem’s widely recognized brands.
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