Investors eye Uruguay as medical cannabis export hub
Very nearly six years after Uruguay fully legalized cannabis, investors are eyeing the South American nation as an export hub for medical cooking cooking pot.
Silverpeak Life Sciences Uruguay is in talks with investment bankers to raise $35 million to be able to increase manufacturing fourfold this season. Silverpeak, that will be among the country’s largest cannabis that are medical organizations, also intends to build a bigger removal laboratory in 2020.
Relating to Silverpeak Life Sciences CEO and U.S. cannabis investor Jordan Lewis, their prepared and desired expansion involves about 25 tons next 12 months. He stated that these are generally anticipating this expansion to build over $100 million in income.
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Investors have already been pouring funds into Canada plus the U.S. because they seek to benefit from more favorable cannabis laws, that have developed a really promising marijuana market that is legal. Uruguay’s cannabis economy, meanwhile, happens to be sluggish to build up regardless of the country being the very first in the planet to legalize cannabis that are recreational.