An investment holding company with a global focus is now giving investors on the TSXV an opportunity to enter the medical cannabis sector in South Africa.
LGC Capital (TSXV:QBA) announced on Tuesday (July 18) that, alongside its partner, AfriAg, entered the medical cannabis space by signing an exclusive agreement to acquire 60 percent interest in House of Hemp, a company with a permit to cultivate and process hemp and cannabis.
The South African company currently holds a long term lease on an indoor growing facility for the cultivation and possession of sativa, which had been used for research purposes.


John McMullen, CEO of LGC said the move represents a quick way for the company to move towards production, thanks to the facility already in place.
“[The facility] is ideal for large scale cultivation and processing of cannabis with its humidity and temperature controlled environments,” he said in a statement.

Cannabis situation in South Africa

McMullen said in terms of pricing shareholders can look forward to “globally very competitive” operating costs including electricity, labor, and fertilizer.
According to the company, the facility under control by the House of Hemp is the only indoor growing site in the country. The 420,000 square feet, temperature and humidity controlled greenhouse facility is located in the precinct of the Durban International Airport.
House of Hemp is in the process of obtaining a second research and development license, which would make it able to grow and commercialize medicinal cannabis and medicinal cannabis products.
McMullen said LGC plans to use the knowledge and experience from their latest acquisition to “grow our medical cannabis initiative elsewhere in southern Africa and beyond.”
In April of this year, courts in South Africa allowed the use of cannabis for home use. The ruling applies to homegrown marijuana with no particular decision on its use, but limited amounts of medical cannabis were also approved prior to that, in February.
“It’s legalized regulation that we’re after,” marijuana activist Julian Stobbs told VOA News.


Investor Takeaway

LGC’s share price increased  55.56 percent on July 18. Things stabilized for LGC on July 19, when the company saw a 21.43 decline and finished the day back at $0.11. That said, its year-to-date stock surge is impressive, with an overall increase of  266.67 percent.
Don’t forget to follow us @INN_LifeScience  @INN_Cannabis for real-time news updates.
Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today its participation in the following investor conferences:

  • Needham 2nd Annual Virtual Cannabis Conference – March 3 rd , 2021 – Management will participate in virtual one-on-one meetings.
  • 33rd Annual Roth Conference – March 15 th -17 th , 2021 – Charlie Bachtell, CEO and Co-Founder, will participate in a Fireside Chat and management will later participate in virtual one-on-one meetings on April 7 th .
  • Stifel Multi-Sector Conference – April 21 st , 2021 – Management will participate in virtual one-on-one meetings.

About Cresco Labs

Keep reading... Show less

Green Thumb Industries, a leading cannabis consumer packaged goods company and owner of Rise™ Dispensaries, is expanding key partnerships and creating scholarships earmarked for those from communities most impacted by the war on drugs as part of its corporate social responsibility program. The scholarships will be granted to a total of four students for programs at the Cleveland School of Cannabis in Ohio and Olive-Harvey College in Illinois. Additionally, Green Thumb will continue its support of Cabrini Green Legal Aid and partner with the North Lawndale Employment Network in Chicago as part of ongoing collaborations that include financial support, volunteerism and awareness initiatives.

Building on the foundation of Green Thumb’s LEAP initiative, which provided pro-bono support for social equity license applicants in Illinois and which will soon offer business incubator resources to newly awarded social equity entrepreneurs, these impactful partnerships mark a critical next step in prioritizing diversity, equity, and inclusion in the cannabis industry.

Keep reading... Show less

All five flavours of the Company’s KOIOS™ nootropic beverage product are now being carried by Jensen’s, a regional supermarket chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. This placement of KOIOS™ follows several other recent placements of the Company’s beverage products in regional supermarket chains across the United States as part of a strategy to passively build market share in specific geographical areas.

Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that the full range of five flavours of its KOIOS ™ nootropic beverages can now be purchased at all grocery stores operated by Jensen’s Foods (“Jensen’s”), a long-established family-owned grocery chain operating in the San Diego, Los Angeles, and Palm Springs areas of Southern California. In a press release dated February 19, 2021 the Company announced another chain-wide placement of KOIOS ™ nootropic beverages on the west coast of the United States with Market of Choice in Oregon. With this placement of KOIOS ™ in Jensen’s supermarkets, the Company’s beverage products are now carried in approximately 180 retail stores on the west coast, out of a total of more than 4,000 retail stores nationwide.

Keep reading... Show less

 Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) announces that Philip Young, CEO and Director, and Maghsoud Dariani, Chief Science Officer will be presenting on Thursday, February 25th, 2021 at 5:45 pm EST at “The Gold Standard in Psychedelic Investment, Psychedelic Capital Virtual Investment Conference”, a platform showcasing the top companies, latest IPOs, newest opportunities, and deepest industry insights.

As a presenting sponsor, the Company will connect directly with some of the earliest moving investors in the psychedelic industry and reach an audience of 2,000+ investors. Presentations are 30 minutes in length, with 10 minutes allocated to a one-on-one Q&A session with the audience.

Keep reading... Show less

As Canadian operators race to strengthen their positions in the cannabis landscape, are international pursuits outside North America still top of mind?

The role that mergers and acquisitions (M&A) have played in the expansion of Canadian companies across the globe has been monumental for the growth of the cannabis industry. Now the space has reached a critical point as the demands of the US market increase.

Keep reading... Show less