Vertican Growth announced the acquisition of 100% of the outstanding shares of three companies called Algamur, Wemblar Corporation, and Dukiliu Trade based in Uruguay, of which the main objectives are cultivation, extraction, and development of pharmaceutical-grade products derived from cannabis.
These three companies will develop and structure in accordance with the regulations of the Uruguayan authorities. All the necessary means for cultivation, medical range conception, and distribution are based in Uruguay.
The Company’s subsidiaries were granted licenses in February 2020 both for the cultivation of cannabis and for the extraction of the main compounds (mainly THC and CBD).
Vertican Growth is launching a vertically integrated project by its sub-companies called Algamur, which will grow flowers with high CBD and THC content. Wemblar Corporation, which will follow with the extraction process of the compounds of interest, and Dukilu Trade which will develop pharmaceutical products for the pharma and cosmetics industry.
Vertican Growth Founder Miguel Loinaz commented: “We are happy to be part of a promising sector such as Medical Cannabis, and we have full confidence in the advantages that Uruguay brings us as a country in which to base our operations thanks to its political, economic, legal stability and strategic geolocation.”
For more information: