FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Blueberries Medical Acquires an Additional 37 Acres of Prime Agricultural Land to Significantly Increase Cannabis Production Capacity”.
Blueberries Medical Corp. (CSE: BBM) a leading Colombia-based licensed producer of medicinal cannabis and cannabis-derived products is pleased to announce that it has completed the acquisition of a 37-acre (15 hectare) agricultural property in the Bogota Savannah. The Company also has the ability to acquire or lease additional land contiguous to the Zipaquira Property for future project and capacity expansion.
Blueberries Medical is seeking to become a large-scale producer of naturally grown premium-quality cannabis with its primary operations well situated in the Bogota savanna in central Colombia. Lead by a specialized team with proprietary expertise in agriculture, genetics, extraction, medicine, pharmacology and marketing, Blueberries has received all licences required for the cultivation, production, domestic distribution and international export of cannabidiol (CBD) and tetrahydrocannabinol-based (THC) medical cannabis.
The cannabis industry is an attractive investment opportunity for entrepreneurs, however, entering into the market poses a challenge for many. In combination with federal regulations and high expenses, obtaining licenses and efficiently operating a cannabis business is difficult. For instance, the top industry players have recently reported their quarterly financial results and many reported overall net losses. In order to mitigate their losses, many began to establish operations in Latin America, specifically in countries such as Argentina, Brazil, Chile, Colombia, and Peru. The LATAM region is a desirable target for many cannabis companies because of its robust cultivation potential and low-costs. Cultivators are able to grow and distribute high-quality cannabis for a significantly cheaper cost as opposed to operating in other regions like Canada. The inexpensive costs allow businesses to sell products back for a reduced price when compared to other global marketplaces. According to data compiled by BDS Analytics in partnership with Arcview Research, the South American legal cannabis spending is expected to grow from USD 125 Million in 2018 to USD 776 Million by 2026.
Uruguay and Colombia, in particular, are where cannabis businesses are eyeing. Uruguay has completely legalized cannabis, while Colombia maintains lenient laws regarding the plant. According to data compiled by Cannabis Intelligence Briefing, the two countries are projected to witness legal cannabis spending at approximately USD 66.7 Million by 2027. “What we’re seeing is a mix of local entrepreneurs, with diverse amounts of capital, finding a supplement in foreign capital,” Diego Olivera, the General Secretary of Uruguay’s national drug board, adding that he’s seen substantial foreign capital interest, particularly from Canada and Latin American, via Benzinga. “[Investors] understand there are certain favorable conditions in Uruguay, including the general conditions the country offers for foreign investments, the educational level, the legal certainty, the macroeconomic stability and other dimensions that combine with the country’s robust and complete cannabis-related regulations.”
For more information, please visit:Blueberries Medical Corp.
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