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Medical cannabis companies are discovering new projects in the country.
Blueberries Medical Corporation (BMC), a Canadian company with representation in Colombia, is about to enter the Canadian Securities Exchange (CSE), one of the North American stock exchanges.
After Khiron Life Sciences, which he did mid-year on the Toronto Stock Exchange (Canada), he will become the second Local medical cannabis business to visit the capital market of this country, seeking to obtain larger sources of alternative financing.
The founders and partners of BMC are Paola Castañeda Lozano, Andrés Castañeda Lozano, Camilo Villalba Gómez and Patricio Villalba Gómez, leaders of the oil sector, among others.
The investment in the first year of the project is estimated at 9 million Canadian dollars ($ 6.8 million).
The company relies on exports to markets such as Italy, which, according to the forecasts of "Prohibition Partners", in 'The European Cannabis Report July 2018', will surpbad in 2029 the figure of $ 8.5 billion in demand for medicinal cannabis products.
BMC has its crops in Guatavita (Cundinamarca) and plans to start its first commercial harvest in the second half of 2019.
It also has land in the municipality of Cogua, as well as in Cundinamarca, which will be used for the expansion.
The company was originally a blueberry crop, but opened the line of medicinal cannabis under the direction of journalist Christian Toro.
The initial commercial projection focuses on extracts and dietary supplements, where it seeks to become a supplier of cannabis oil, with the certifications required by the pharmaceutical, food and cosmetic industries.
Thanks to the supplements, which represent a market with positive margins, they are the first to enter in such a category.
The goal of BMC's annual sales in 2020 is about $ 20 million and that of 2021 of about $ 50 million.
In addition to Colombia and Italy, the company plans to make sales in Canada, Germany and Mexico through its subsidiaries Marketing World Wide and Madre Terra.
They already have authorizations from the Colombian Agricultural Institute (ICA), as a producer of selected seeds, and if they get a positive report from this entity, they are ready to receive the corresponding approval as a unit of agronomic evaluation.
In the first step, BMC generates 70 direct and indirect jobsbut expects in late 2019 to recruit engineers, operators, extraction specialists, doctors, experienced wine growers, consultants, production designers and marketing specialists and scholarships.
Camilo Villalba Gómez, vice president of operations for blueberries, said that one of the company's goals was to change the perception of cannabis as a psychoactive substance so that its therapeutic properties are better recognized.
Blueberries Medical was born at the origin of a blueberry crop project in Colombia
The park
Cannabis Colombia Holdings, a subsidiary of the Canadian company International Cannabis Corporation (ICC) – which is open and also listed on the Toronto Stock Exchange – has obtained licenses from the Colombian Institute of Agriculture (ICA) allowing it to grow, produce, sell and export products and products-based cannabis for medical purposes.
To this end, it has acquired 13 hectares in Funza (Cundinamarca) and began construction in October of a center in an industrial park of the region.
In addition to being the company's main property, the center will be a plant breeding service center and testing laboratory.
It is expected that the culture at Funza will produce between 25,000 and 40,000 kilos per year of dehydrated flowers with medicinal cannabis.
Special attractions
A population of about 650 million inhabitants, diverse climates, a skilled agricultural workforce and legalization policiesAmong the reasons which, according to the badysts, are at the base of this type of activity in Latin America.
In particular, Colombia is located near Ecuador and has a 12-hour solar cycle that occurs all year long, allowing crops for 365 days.
In addition, the mountainous geography offers different thermal soils, which allow cultivation in many climates.
Investors also consider that free trade agreements also allow them to export medicinal cannabis products to Colombia to markets where therapeutic use is also guaranteed.
According to the quota that Colombia has granted by the International Council for the Control of Narcotic Drugs, in 2018 it can produce 40.5 tons of cannabis for medical purposes out of the 91.9 approved worldwide.
Decree 2467 of 2015 and subsequent regulations such as Law 1787 of 2016 authorized The use of the marijuana plant for medicinal purposes and in various presentations such as cosmetics, ointments and oils.
The regulation on manufacturing, seed use and cultivation ended about a year ago and about 200 companies or people holding a license to produce it.
ROLANDO LOZANO GARZÓN-ECONOMICS AND BUSINESS
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