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

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

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

Canopy Growth’s purchase for the Highlands that is lesotho-based marks Canadian cannabis company’s initial step into Africa. Highlands holds a license to create, make, hold, supply, export, import, and transportation cannabis services and products.

Why Lesotho?

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

Worldwide CBD Exchange

Lesotho can be strategically positioned for Southern Africa’s upcoming medical cannabis industry, including a market that is potential Southern Africa, that is along the way of developing its very own medical cannabis rules and which includes a populace of 55 million. More →