Plena Global Holdings has signed a Letter of Intent (LOI) to acquire a 26M square foot certified organic farm in Peru.
"Peru represents the world's best growing region for agricultural products, without peer," stated Richard Zwicky, Plena Global's CEO. "Peru is known both as 'nature's greenhouse' and the breadbasket to the world."
The Company expects to have high-quality medical-grade cannabis raw material available for the domestic Peruvian market and for exporting globally in early Q1 of 2020 - subject to receiving all necessary licenses within anticipated timelines.
"Peru's climate and soil provides the opportunity to grow at scale and at an even lower cost since no greenhouses are required," the team with the company explains. "Peru's legislation offers the opportunity to export not only extract but also flower, for which demand is very high globally. With Peru on the way, we continue to grow and diversify our sources to meet the increasing demand for medical-grade cannabis.
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