Cannabis
Supreme Cannabis Welcomes New CBD Legislation in South Africa
The Supreme Cannabis Company, Inc. (“Supreme Cannabis”) (TSX: FIRE) (OTCQX: SPRWF) (FRA: 53S1) comments on the recent changes to South Africa’s Medicines and Related Substances Act.
This past week, South Africa’s Department of Health removed Cannabidiol (“CBD”) from the country’s Schedule 7 list of highly controlled drugs, allowing for legal sale of CBD products made in accordance with the government’s specified preparations.
Supreme Cannabis’ international medical cannabis oil partner, Medigrow Lesotho (“Medigrow”), is licensed by the Lesotho Ministry of Health to cultivate and manufacture medical cannabis and cannabis oil products in the Kingdom of Lesotho, a jurisdiction located within Southern Africa. Supreme Cannabis will explore opportunities to serve South Africa’s commercial CBD market through its preferential global distribution agreement with Medigrow.
“This meaningful change to South Africa’s legislation creates immense opportunity for Medigrow to manufacture and supply high-quality CBD oil to a neighbouring jurisdiction,” said Navdeep Dhaliwal, CEO of Supreme Cannabis. “We are pleased to see countries like South Africa adopting thoughtful changes to policy and implementing well-regulated systems with the potential to improve public health and wellness.”
Medigrow’s advanced commercial operations include a rapidly-scaling cultivation facility being built to EU GMP standards and an industrial-grade oil extractor. In anticipation of its first international exports, Medigrow is currently building an inventory of oils.
Supreme Cannabis and Medigrow look forward to productively working with regulators in South Africa while continuing to explore additional international export opportunities.
SOURCE The Supreme Cannabis Company, Inc.
-
Avant2 weeks ago
Avant and IMC Execute BLK MKT™ Trademark Licensing Agreement for the German Medical Cannabis Market
-
StickIt1 week ago
StickIt Technologies Inc. Announces Year-End 2023 Financial Results
-
Cannabis1 week ago
Hemp, Inc. Welcomes USDA Approval of GMO Hemp Strain – A Step Forward in Cannabis Biotechnology
-
Cannabis1 week ago
Avicanna Announces Completion of Topical Gel Observational Real-World Evidence Study
-
Cannabis1 week ago
Right On Brands, Inc. Continues Rollout, Announces 13th Store Opening
-
Cannabis1 week ago
IM Cannabis and Flora Growth Partner to Bring Vessel Cannabis Accessories to the Israeli Market
-
Cannabis1 week ago
Tilray Brands, Inc. Reports Q3 Fiscal 2024 Financial Results
-
Cannabis1 week ago
Geopulse Exploration, Inc. Acquires 50% of ATC Services