According to Scythian, Aphira's expansion to the island is to be done through the acquisition of Marigold Projects Jamaica Limited, which has several licences to cultivate process and sell cannabis products and services for therapeutic, medical and scientific purposes.
Scythian said the move is expected to provide leverage for early stage investments in emerging international markets.
As a result of the transaction, Aphria will indirectly acquire 100 per cent of Marigold Acquisitions Inc, an entity which owns 100 per cent of Hampstead Holdings Limited, and a Bermuda incorporated entity, which owns 49 per cent of Marigold Projects Jamaica Limited.
Aphria is also expected to acquire another 100 per cent of ABP, South America — an Argentinean pharmaceutical import and distribution company, currently licensed for the importation of Cannabidiol (CBD) oil; and 90 per cent of Colcanna SAS, a Colombian medical cannabis producer, currently licensed for cultivation and importation of CBD, extraction, production, research and exportation of medical cannabis products.
- Countries: Jamaica
- JAMAICA | Standard & Poor's Upgrades Jamaica's Ratings; Outlook Remains Stable
- JAMAICA | Sustainable Economic Development - Is Jamaica on the right path?
- JAMAICA | Perception of corruption in Jamaica has increased in the past year
- JAMAICA | Former IMF Boss Praises Jamaica
- JAMAICA | Jamaica To Export Frozen Lobster To China