Investors eye Uruguay as medical cannabis export hub
Very nearly six years after Uruguay fully legalized cannabis, investors are eyeing the South American nation as an export hub for medical cooking pot.
Silverpeak Life Sciences Uruguay is in talks with investment bankers to raise $35 million to be able to increase manufacturing fourfold this current year. Silverpeak, that is one of several country’s largest medical cannabis businesses, additionally intends to build a bigger removal laboratory in 2020.
Relating to Silverpeak Life Sciences CEO and U.S. cannabis investor Jordan Lewis, their prepared and desired expansion involves about 25 tons next 12 months. He stated that this expansion is being expected by them to build over $100 million in revenue.
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Investors have now been pouring funds into Canada and also the U.S. because they seek to make use of more cannabis that are favorable, that have created a really promising legal cannabis market. Uruguay’s cannabis economy, meanwhile, is sluggish to build up inspite of the nation being the very first in the entire world to legalize cannabis that are recreational. Continue reading “Investors eye Uruguay as medical cannabis export hub”