Canopy development enters African market with $29-million purchase of Lesotho-based cannabis producer

Canopy development Corporation has just entered its 5th continent using its purchase of African cannabis business Daddy Cann Lesotho PTY Ltd., which trades as “Highlands.”

Canopy Growth’s purchase associated with the Highlands that is lesotho-based marks Canadian cannabis company’s first rung on the ladder into Africa. Highlands has a permit to develop, manufacture, hold, supply, export, import, and transport cannabis services and products.

Why Lesotho?

The Kingdom of Lesotho is really a high-altitude mountainous nation that boasts a lot more than 300 times of sunshine every year. This means that, the ideal is had by it moisture and perfect conditions that are growing greenhouse cannabis cultivation.

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Lesotho can also be strategically positioned for Southern Africa’s upcoming medical cannabis industry, including a potential market in Southern Africa, which will be along the way of developing its very own medical cannabis regulations and that has a populace of 55 million. Continue reading →