Cannabis Wheaton (TSX: CBW) announced yesterday plans to invest $15 million dollars to acquire 80% of Uruguaya based company Inverell, who produces high CBD industrial hemp and low THC cannabis in the country’s capital. The transaction will also include $2 million in cash, plus an additional $3.5 million worth of shares in Cannabis Wheaton to Inverell.
Over the past few months, we have seen multiple companies in the cannabis and industrial hemp Canadian public sector expand their operations internationally. Inverell owns one of the many licenses in Uruguaya to grow specific strains of hemp and one other low THC strain of cannabis since the country became the first country to fully legalize last year.
Inverell is currently growing the strains on about 40 acres of land and has an additional 1,420 acres available for additional production.
You may be interested
VividGro, a Pegasus Capital Advisors Portfolio Company, Announces Partnership with Merida Capital PartnersEditor - August 17, 2018
Partnership to Focus on Growth in Horticultural and Cannabis Industries VividGro, LLC, a portfolio company of private equity firm Pegasus Capital Advisors (Pegasus), today announced it has…
Harborside to Go Public Via Canadian Reverse Takeover in Deal Valued at C$200 MillionEditor - August 15, 2018
Harborside, a California based cannabis dispensary brand with multiple locations, is planning the reverse takeover of Canadian public company Lineage Grow Company Ltd. (CSE: BUDD). Lineage is…
The City of Los Angeles Has Begun Accepting Applications for Cannabis LicensesEditor - August 15, 2018
At the beginning of this month, the city of Los Angeles finally decided to start accepting license applications from cannabis growers, manufacturers, and testing labs. Although marijuana was…