Canadian firm invests in African MMJ cultivation

LGC Capital has entered into a strategic alliance with AfriAg to create a new 50/50 Joint Venture to grow and distribute medical and recreational cannabis products in the southern African region for export to regulated and certified end users around the world.

AfriAg has extensive experience with managing agriculture operations including greenhouse cultivation. It also owns and manages certified facilities and is one of the largest distributors of perishable food products by airfreight to the world from the southern African region.

The new Joint Venture will aim to develop a fully-regulated cannabis growing and processing industry in the southern African region for export to certified end users world-wide. AfriAg will assist LGC with securing significant agricultural land packages and processing facilities in the region to grow cannabis crops and produce, including seeds, cannabis extracted oils, dried marijuana leafs, cigarettes and vapours.

“LGC, in conjunction with AfriAg, will now be actively pursuing this first of its kind opportunity in the southern African region, which expands LGC’s focus into a truly international investment company,” said John McMullen, CEO of LGC. “AfriAg is a great development partner for a venture such as this and this opportunity is unique. If successful, we will make LGC the first and only Canadian publicly-traded company to be licenced to grow and export recreational and medical cannabis on a global basis.”

“AfriAg can bring a tremendous amount of growing, manufacturing and global logistics expertise to this partnership”, said Paul de Robillard from AfriAg. “Southern Africa has the commercial advantage of very competitive labour rate, a highly-skilled agriculture workforce, excellent climatic conditions, and rich soils that are well suited to outdoor and indoor crop production. We look forward to working with LGC on this new venture.”

For more information:
howardgroupinc.com
www.lgc-capital.com
www.afriagglobal.com