London-based medicinal cannabis company has been approved, pending ratification from the licensing Board for a medicinal cannabis Dispensary licence in Antigua and Barbuda.
Eco Equity’s license will also include the manufacturing of products, supply, store, import and export for medicinal purposes and scientific use in Antigua and Barbuda.
"The decision by the Cabinet of Antigua and Barbuda to approve Eco Equity to operate in Antigua and Barbuda means the company is well positioned towards achieving its aim of becoming Antigua’s first and sole brand dispensary for medicinal cannabis," the team with the company explains.
"The company has plans to roll the dispensary model out across the West Indies and has a long term vision to build in conjunction with the government of Antigua and Barbuda, a global cannabis resort and conference centre."
The company has stressed its commitment to creating its own Corporate Social Responsibility (CSR) program and has stated its mission to ensure jobs are given to the local community as a priority following the approval of the license application.
Jon-Paul Doran, CEO of Eco Equity, said: “It is a real honour to be considered for medicinal cannabis in Antigua and Barbuda. The progressive nature of the Prime Minister and his Government is what attracted us to the island in the first place. We are excited about the potential opportunities that will arise from this and we will be making further announcements in the coming weeks.”
“Whilst we are, of course, anticipating the timely approval of the said license, we are aware that the hard work starts now and our team on the ground is ready to begin operations.”
Hon. Charles Fernandez, Minister of Tourism & Investments of Antigua & Barbuda said: “The global cannabis market is expanding at an exponential rate. We have seen many business plans from many global cannabis firms and Eco Equity stood out in many areas. We commend them. We look forward to working closely with them and supporting them as they build here in Antigua and Barbuda.”
Following the approval of the licence Eco Equity could become the first company to hold medicinal cannabis licenses in both Antigua and Barbuda, and Zimbabwe, as it continues to expand into the global market.
The company has already begun work on a greenhouse facility in Zimbabwe and intends to follow a similar process in Antigua and Barbuda.