FinancialBuzz.com’s latest Buzz on the Street Show: Featuring Our Corporate News Recap on “Blueberries Medical to Acquire Cannabis Cultivation, Processing & Manufacturing Rights for 3.2 Million Square Foot Property in Argentina”
Blueberries Medical Corp. (CSE: BBM) (OTC: BBRRF) a leading Colombia based licensed producer of medicinal cannabis and cannabis-derived products, is pleased to announce that the Company has entered into a binding agreement effective March 25, 2019, to acquire cannabis cultivation, processing, manufacturing, export and other rights in Argentina from BBV Labs Inc.
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 licenses required for the cultivation, production, domestic distribution and international export of cannabidiol (CBD) and tetrahydrocannabinol-based (THC) medical cannabis.
The expansion of the cannabis industry has led companies involved in the marketplace to expand internationally as larger players are extending their operations into other regions such as Europeand Latin America. Cannabis is enjoying a global perspective shift on legalization, however, the industry is still heavily hindered by certain regulations. Nonetheless, many countries are exploring opportunities within the market for medical applications. Despite its continued global expansion, the U.S. continues to dominate the cannabis marketplace. According to Verified Market Intelligence, the global marijuana market was valued at USD 42.20 Billion in 2017 and is expected to reach USD 466.81 Billion by 2025. Additionally, the market is projected to register a CAGR of 35.3% throughout the forecast period from 2018 to 2025. The market is primarily being accelerated by the growing adoption of medical cannabis for the treatment of chronic diseases. However, as more U.S. states begin to legalize recreational cannabis, projections show that recreational sales could overtake medical sales in the near future.
Europe and the LATAM region are attractive regions for many companies to establish operations. Europe’s overall cannabis market is projected to reach USD 66.8 Billion within the next five years, while the LATAM region is expected to reach USD 12.7 Billion in sales by 2028, according to Prohibition Partners. The research notes that several European countries have passed medical marijuana legislation recently, and there is a 50% chance a few more could pass recreational laws. Meanwhile, the LATAM region is being targeted mainly for cultivation facilities due to its fertile lands and inexpensive costs associated with growing, as more countries view legalization with zest. “As more markets open, international trade begins and research and science take a front seat in the coming years,” said John Billings, head of cultivation for The Farm Dispensary. “There’s no reason to think this trend will not continue. Growing plants/varietals with higher concentrate returns will help keep production costs down. You have old players (Israel, Jamaica, GW Pharmaceuticals and the U.S.) and new players (Canada and Mexico) coming into the scene with their own ideas and plans.”
For more information, please visit: Blueberries Medical Corp.
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