EXMceuticals (CSE:EXM) has announced the company has received its formal license for the cultivation, extraction, and exportation of cannabis and cannabis derivatives including extracts and oils. The company intends to begin planting over 100 hectares immediately. EXMceuticals currently owns cultivation and production facilities that cover 2,000 hectares of agricultural land which is capable of housing 21,500 square feet of cannabis lab, extraction, and handling facilities. The company intends to use its Ugandan extraction facility to produce CBD oil in accordance with Ugandan regulatory authorities.
In addition to its facilities in the Republic of Malawi, EXMceuticals now owns over 84,000 hectares of land licensed for cannabis production across multiple jurisdictions. The company intends to create over 1,200 new jobs across Africa within the first two years of commercial production.
“This is a very major milestone for EXM as we continue to expand our operations in African countries which suit our strict operating criteria. Our aim is to be the largest volume, lowest cost producer and most secure supply-chain solution providers of cannabis extracted ingredients to the pharmaceutical, therapeutical, neutraceutical and cosmetic markets, all of which have received an explosion of demand in recent times.” said Michel Passebon, Chief Executive Officer of EXMceuticals.
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