EXMceuticals has received its formal full authorisations and permits for its Uganda operations. This allows for the large-scale cultivation of cannabis, the extraction of cannabis ingredients and the export of the extracts.
Through its local subsidiary, Prime Ranchers Limited, EXM will now be able to cultivate and process cannabis in Uganda at an industrial scale. The Ugandan facilities will produce and export pharmaceutical, therapeutical, nutraceutical and cosmetic grade cannabis ingredients.
Within 90 days, EXM will be able to supply Ugandan produced cannabis extracted ingredients to any pharmaceutical, therapeutical, nutraceutical or cosmetic company which is duly licensed by the proper regulatory authorities in the countries in which they themselves operate. The new license also enables the subsidiary to import high-quality cannabis seeds which have been developed in Europe in order to provide the seed-stock for the cultivation operations.
The entire land area of the project consists of over 2,000 hectares (4,940 acres), parcels of which will be put into production sequentially. Initial planting will consist of 100 hectares (247 acres) and the first plant harvest will occur within 4 months. All the relevant utilities such as power generation, water and waste management, which are required by the first phase of the project, are fully budgeted, funded and planned by the company.
EXM is committed to having a tangibly positive local impact and close relationships are being built with the Ugandan agriculture education institutions. The company fully intends to foster local expertise as well as to help create technical jobs locally. EXM already, directly and indirectly, employs over 200 employees in Africa and plans to create a further 1,000 jobs across Africa in the next 12 months.
“This is a very major milestone for EXM as we continue to expand our operations in African countries which suit our strict operating criteria. Our aim is to be the largest volume, lowest cost producer and most secure supply-chain solution providers of cannabis extracted ingredients to the pharmaceutical, therapeutical, neutraceutical and cosmetic markets, all of which have received an explosion of demand in recent times”, said Michel Passebon, Chief Executive Officer of EXM.
He continued: “Cultivation in Uganda is a key component of our strategy, so we are excited that our initial pilot project is now entering industrial scale production levels. We believe we will have a genuinely positive impact for years to come on the local communities through job creation and our relationships with agriculture education institutions.”
For more information:
EXMceutical
403-870-1562
investors@exmceuticals.com
exmceuticals.com