+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.01
+ 0.01%

Jamaican Cannabis Company Jacana Raises $20 Million, Completes First Export

March 1, 2019 2:47 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

Jamaica-based global cannabis company Jacana announced this week that it's raised $20 million and completed Jamaica's first export of cannabis flower. 

What Happened

Jacana raised $20 million as an initial investment. The company said it plans to use the money to build its business and to cultivate, develop and distribute certified medical cannabis solutions. 

Aside from the investment, Jacana completed the first-ever international export of marijuana flower from Jamaica.

In September, the country's government approved the first-ever export of cannabis oil to Canada. 

The Cannabis Capital Conference is coming back to Toronto! Click here to learn how you can join Tim Seymour, Jon Najarian, Danny Moses, Alan Brochstein and many others.

Jacana is a global cannabis company that also has a presence in the UK and Canada. In Jamaica, the company has a 4.4-million-square-foot (100-acre) farm in St Ann. 

Why It's Important

Jamaica has the potential to become a global cannabis leader, with the country long being associated with the plant through the international popularity of reggae musicians like the late Bob Marley.

The plant itself was illegal on the island until 2015. Only in the last couple of years the government started to ease restrictions, but cannabis in Jamaica has a long way to go before it becomes fully legal. 

What's Next

Jacana said it plans to use the investment to advance its international expansion and build on its existing operations in Europe, North America and the Caribbean.

Related Links:

UC Berkeley Scientists Obtain THC, CBD From Yeast

Agritech Arcadia Biosciences Rallies On Entry Into Cannabis Sector

Related Articles

The 9 Best Cannabis Podcasts To Listen To Right Now

This article was originally published on Cannabis & Tech Today, and appears here with permission. read more

Pure Sunfarms Inks Supply Deal With Shoppers Drug Mart

Pure Sunfarms opted to supply Shoppers Drug Mart Inc's customers with its cannabis products. The Village Farms International Inc. (NASDAQ: VFF) (TSX: VFF) subsidiary teamed up with the Canadian retail pharmacy chain to provide consumers with Pure Sunfarms' dried flower products. read more

Jay-Z Inks Largest Cannabis SPAC Deal Ever With Subversive Capital, Roc Nation, Caliva, Left Coast Ventures

Music industry mogul Jay-Z is set to join a newly formed cannabis company that's expected to become the largest in California. read more

Cannabis Stock Gainers And Losers From November 24, 2020

GAINERS: Cann Gr (PINK: CNGGF) shares closed up 44.86% at $0.37 read more

Israel To Legalize Marijuana In 9 Months, Justice Minister Says

This article was originally published on The Cannigma, and appears here with permission. read more