Seattle, Washington--(Newsfile Corp. - August 30, 2018) - CFN Media Group ("CFN Media"), the leading agency and financial media network dedicated to the North American cannabis industry, announces publication of an article outlining Pure Global Cannabis, Inc (TSXV: PURE) (OTC Pink: PRCNF) and Avicanna uniting to bring science-based innovations to the international cannabis marketplace.
Pure Global Cannabis, Inc (TSXV :PURE) (OTC Pink: PRCNF) and Avicanna Inc have joined efforts to bring science-based innovations to the international cannabis marketplace. Pure Global recently signed a binding agreement to acquire a 60% share of Avicanna's Colombian subsidiary, Savita Nativa, S.A.S., along with an option to purchase an additional 15% within 24 months, bringing Pure Global's aggregate ownership to 75%. Sativa Nativa, S.A.S. has a Colombian license to both grow cannabis and to manufacture cannabis derivatives, and this entry will bring both companies into position as leaders in the sustainable and economical production of cannabinoids for export into international markets.
Colombia's huge international treaty export quota, along with a regulatory framework that allows cannabis production for global export will allow Pure Global to target potential emerging markets in far more countries than they would have been able to do otherwise.
In addition to Sativa Nativa's 20,000 square foot cultivation facility in Santa Marta, Colombia, Pure Global plans to build an additional 1 million square foot greenhouse with a minimum production capacity of 165,000 kg per annum at organic grade by the end of 2020. Due to Colombia's economy, Pure Global can build and operate the new facility at a much lower expense. Additionally, Colombia's ideal climate allows for 4 growing cycles per year and this, along with Latin America's low production costs, will allow Pure Global to produce superior cannabis well below the cost of licensed producers in Canada.
Avicanna, which is based in Toronto, is already a Resident company at the JLABS @ Toronto, so this new partnership will bring Pure Global into a new research and product development realm and leverage Avicanna's scientific teams to develop and execute a multi-level and multi-market strategic approach towards medical cannabis.
"These are exciting times for Pure Global," says Malay Panchal, President & CEO, "as we make our first entry into Latin America and kickstart our international growth plans. We have found an excellent partner in Avicanna, which has done a tremendous job building highly strategic relationships and assets in Colombia, as well as on-the-ground teams capable of executing our aggressive plans. Sativa Nativa is set to become our flagship international and equatorial asset, which we will leverage to produce low-cost inputs for value-added products destined for emerging export markets."
Here is a summary of recent Pure Global developments, including those of their subsidiaries.
At the Flagship Canadian Facility:
At the Flagship International Facility:
PURE's President & CEO, Malay Panchal, stated, "By securing the lowest input costs possible through the Colombian acquisition, these combined entities will be the foundation of PURE's long-term sustainable and profitable growth plans, with goals of international distribution to every country with medical and future legal adult-use cannabis regulations."
Pure Global Cannabis Inc. (TSXV: PURE) (OTC Pink: PRCNF) is a vertically-integrated, growth-oriented life sciences cannabis company led by experienced pharma-industry, horticultural, consumer packaged goods (CPG), and supply chain experts. The Company's wholly owned subsidiary, PureSinse Inc., is a licensed producer under the Access to Cannabis for Medical Purposes Regulations (ACMPR) focused on producing premium-quality cannabis products for medical, wellness, and future legal adult use markets.
For more information, visit the company's website.
Please follow the link to read the full article: http://www.cannabisfn.com/two-global-cannabis-leaders-partnering-bring-science-based-innovations-international-cannabis-marketplace/.
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