Cann Global has decided to expand its medical cannabis business in Asia by incorporating a dedicated subsidiary that works with the APAC and Asian markets.
The new company – Cann Global Asia – has been set up by the ASX-listed medical cannabis developer to focus on undertaking “legal broad-acre industrial cannabinoid (CBD) hemp cultivation and processing” as well as indoor cannabis cultivation in Southeast Asia.
The venture is being developed for Cann Global to become “the first Australian company to have a full ‘seed to product’ Cannabis business established in Laos,” according to its managing director Sholom Feldman.
According to Cann Global, the newly formed company will be split in terms of ownership, with 55% being owned the parent company and 45% owned by Cann Global’s “management partners” David Evans and Christopher Waldron – two veteran industry figures with almost 40 years in combined business development experience obtained across Asia and Australia.
Read the full article at smallcaps.com.au
