Cannapharma enters in Thai cannabis market
Cannapharma signed a term sheet with Thai Leaf Biotechnology Co. Ltd to invest in Thai market. The Project will be initiated with the investment of the very first commercial-scale ethanol-based extraction facility in the country which is expected to produce 10 tons of cannabinoid annually.
Whereas the Project will be further developed by the integration of cannabis-infused manufacturing coupled with supplements and drug development, thanks to strong presence and experience of the founding shareholders within pharmaceuticals and beverage industries, current business plan projects solely extraction operation.
Cannapharma has also agreed to leverage product portfolio and manufacturing capabilities of Growpacker (an earlier investment of Cannapharma) thanks to Cannapharma’s right to manufacture these products in major markets ( UK, Germany, Thailand ) through franchising framework agreement signed with the company.
This constitutes an important step for Cannapharma, lifting our company from US and Canadian markets by creating diversification towards Asian markets. This investment into Thai Leaf should not be considered as an investment to Thailand but first step towards expanding in South East Asia and eventually into emerging Japan CBD market. This diversification, with a potential European presence to follow and other north American companies in our radar, is going to increase the valuation of Cannapharma and pave the road towards an IPO of Cannapharma in Canada in the medium term.
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