Sign up Australia
Proactive Investors - Run By Investors For Investors

Kaneh Bosm BioTechnology's plans for Lesotho pick up as it hires infrastructure and development consultancy

Lesotho became the first nation in Africa to issue licenses for medical cannabis operations
Kaneh Bosm BioTechnology's plans for Lesotho pick up as it hires infrastructure and development consultancy
Other cannabis peers have moved into Africa to do business

Kaneh Bosm BioTechnology Inc's (CSE:KBB, OTC:KNHBF) plans for Lesotho in Africa have stepped up a gear - as it hired consultancy firm Volare.

Volare will help develop Kaneh's business, along with helping to buy land earmarked for cannabis cultivation, storage and manufacturing facilities.

READ: Kaneh Bosm BioTechnology enters Danish market with Danavian deal

It has already identified key land parcels that are well suited for agriculture and manufacturing development, noted Kaneh.

Last year, Lesotho became the first nation in Africa to issue licenses for medical cannabis operations and Kaneh Bosm's portfolio company CanAfrica holds licenses for medical Cannabis cultivation, manufacturing, distribution, transport and import/export.

"Kaneh Bosm's African developments mirror industry peers such as Canopy Growth Corporation, Supreme Cannabis Company Inc. and Aphria Inc," said chief executive Eugene Beukman.

"Earlier this year, Canopy acquired Daddy Cann Lesotho PTY Ltd for $28.8mln. Daddy Cann and Kaneh Bosm's CanAfrica have been awarded identical medical cannabis licences by the Kingdom of Lesotho.

"In March of 2018, Supreme Cannabis invested $10 million for a 10 percent stake in Lesotho's MediGrow Holdings PTY Ltd."

Kaneh Bosm also highlighted Aphria Inc's (TSE:APH) recently announced a joint venture with Lesotho-based Verve Dynamics.

Verve is set to supply high-grade low-cost cannabis isolates to the African continent and, through Aphria International's distribution network, to markets across the globe.

Kaneh also noted that it continues to complement its existing African cultivation and distribution footprint.

Most recently, the company acquired South African based Aricannabis BioTech Corp, which works on an exclusive basis with NuCare Health to provide Cannabis products to over 2,800 independent and corporate pharmacies across South Africa.

South Africa has a population of 55mln people and has announced plans through the Medicines Control Counsel for medical Cannabis distribution to South African patients.

Join our Crypto, Blockchain and Cannabis Telegram group here
View full KBB profile View Profile

ICC International Cannabis Corp. Timeline

Related Articles

cannabis
August 28 2018
Tidal Royalty provides capital to help grow licenced US cannabis firms in exchange for receiving a percentage of future top-line revenues.
Kaneh Bosom Biotechnology: experienced management, access to capital and a clear strategy paves the
August 14 2018
The company says access to capital and a clear strategy will help it succeed

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2018

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use