Canada's LGC Capital, alobg with its joint venture partner in South Africa AfriAg, has announced the availability of contract medical cannabis growing and processing services to any licenced jurisdiction that can offer medical cannabis anywhere in the world. The growing and manufacturing will take place at South Africa's House of Hemp 40,000 square meter facility in Durban.
Earlier in 2017 the LGC Capital and AfriAg JV acquired a 60% equity stake in House of Hemp which is founded by South Africa's Dr. Thandeka Ruth Kunene.
Part of House of Hemp's 40,000 square meter facility in Durban's AgriZone.
"Apart from LGC now looking at new licensed medical cannabis investment opportunities in the Asia-Pacific Region, we are working hard towards significantly expanding our medical cannabis footprint further in to the southern African region," said John McMullen, CEO at LGC Capital.
LGC and its JV Partner AfriAg are fully licenced to grow and transport medical cannabis from South Africa.
"At LGC we are excited for this unique opportunity in South Africa as LGC and its partners already have a pre-built glasshouse and greenhouse infrastructure, abundant clean water supply, some of the best heat growing units globally for agriculture, a very competitive labour market and some of the lowest electricity unit costs in the world. LGC and AfriAg can today provide licensed cannabis growers anywhere in the world (in particular the northern hemisphere where costs are high due to severe winter climatic conditions) with a low cost, fully custom, bonded growing and manufacturing platform designed to reduce their capital expenditure, operating costs and increase their speed to not only their domestic licensed markets but to a more global market place through fully bonded and secure facilities," added McMullen.
House of Hemp's facility is based in Block "D" of the Dube TradePort's Agrizone Complex at Durban's King Shaka International Airport. It features a 40,000 square meter secure, temperature-regulated and humidity-controlled greenhouse under glass, with refrigerated pack houses, laboratories and offices. This complex is the only licensed indoor growing facility in South Africa.
House of Hemp is planning to ramp up Research & Development of high-CBD medicinal grade cannabis.