CANADA: MYM Nutraceuticals has signed a Memorandum of Understanding (MOU) with NEWCANNA, a leading Colombian medical cannabis company.
NEWCANNA has agreements in place with multiple indigenous communities in Colombia totaling over 400 families (approx. 1,400 people) that control 7,400 acres of cultivation property. In 2018 the indigenous growers have the capacity to be producing approximately 217,500 kg of high-grade cannabis for processing and export worldwide. With planned production expansion with the indigenous growers, NEWCANNA’s production is expected to be over 1,000,000 kg of cannabis in a year or two. The high mountains of Colombia provide a perfect climate to cultivate cannabis and allow production costs to be a fraction of what it costs to produce in Canada.
MYM and NEWCANNA are also proposing that, along with the cultivation and transformation of raw materials into medicinal oils, tinctures and a variety of products, they also construct a research and development laboratory for the design and creation of new products, in-house analysis and testing, and the refinement of new and unique delivery systems.
In the last year, NEWCANNA has consolidated vast properties of land that are ideal for the cultivation of cannabis and hemp throughout different regions of Colombia. NEWCANNA has formed valuable alliances with multiple indigenous communities within Colombia and has a large workforce of eager participants for all planned organic cultivation projects.