News and Press Releases
A competitive cannabis market in Brazil is not possible without domestic cultivation, say investors
May 13, 2020 - Folha de São Paulo - online
A cannabis-based product has been approved in Brazil by Anvisa, but raw materials must still be imported
Legalization of cannabis cultivation is the most significant impediment to the emergence of a competitive market in Brazil for cannabis-based medicines and other products, according to investors and fund managers who earlier today participated in “Live At Home”, a daily presentation on a variety of topics by Folha de São Paulo. José Bacellar, founder and CEO of VerdeMed, a Canadian company focused on cannabis-based products, also sees the potential for rapid market expansion, but he offers this caution to entrepreneurs.
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Financial media company organizes a virtual event for cannabis entrepreneurs to raise capital
April 24, 2020 - Folha de São Paulo - online
American financial media company Benzinga has announced that it will host its first Virtual Deal Room for the cannabis industry later this month. Entrepreneurs involved in the industry will be able to introduce themselves to a select group of investors, without leaving home.
More information:
https://cannabisinc.blogfolha.uol.com.br/2020/04/24/empresa-de-fundos-organiza-sala-virtual-para-setor-da-cannabis-levantar-capital/ (in Portuguese only)
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Brazil can Lead the World in the Production of Medical Cannabis
March 09, 2020 - Sechat - online
The market is excited. This Tuesday (10), the regulation that allows the manufacture and trade of medical cannabis comes into force.
Brazil joins a group of 47 countries that have approved the prescription and use of medical cannabis. Anvisa’s RDC 357, which creates a category of drugs based on cannabis derivatives, comes into effect on March 9, 2019. The new regulations outline the rules that will govern the importation and production of these drugs by pharmaceutical companies in Brazil, as well as regulating their distribution and sale in pharmacies and drugstores.
More information:
https://sechat.com.br/o-brasil-pode-ser-lider-global-de-cannabis-medicinal-diz-empresario/ (in Portuguese only)
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VerdeMed’s founder shows the potential of Brazilian cannabis to the U.S.
February 28, 2020 - Sechat - online
U.S. investment events are useful tools even for small businesses:
Among so many participants, only one representative from Brazil was at both events. José Bacellar, the founder of VerdeMed, was there looking to raise capital. He was able to highlight to U.S. investors the regulatory changes made by Anvisa (Brazil’s National Health Surveillance Agency), which since last December has authorized the production of medical cannabis from imported raw materials, as well as the sale of these products in pharmacies.
More information:
https://sechat.com.br/fundador-da-verdemed-mostra-o-potencial-brasileiro-da-cannabis-nos-eua/ (in Portuguese only)
Verdemed is sponsoring the Benzinga Cannabis Capital Conference in Chicago, USA
October 21, 2019 - Cision - online
Verdemed proudly announces its sponsorship of the Benzinga Cannabis Capital Conference, which is taking place on October 22 and 23, 2019 at the Palmer House, a Hilton Hotel, in Chicago, USA.
José Bacellar, CEO and President of Verdemed, would like to invite investors interested in becoming better acquainted with Verdemed to attend his presentation on October 23 at 10am in the State Ballroom.
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Verdemed is sponsoring the second Like the Future Cannabusiness forum, organized by Lide Futuro, in São Paulo, Brazil
October 17, 2019 - Cision - online
Verdemed is pleased to announce its sponsorship of the second Like the Future Cannabusiness forum, organized by Lide Futuro, which is taking place on October 18, 2019 at MIS – Museu da Imagem e do Som, in São Paulo.
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Brazil's Medical Marijuana Market Projected to Reach US$ 1.1 Billion per Year
September 29, 2019 - Folha de São Paulo - online
Entrepreneurs continue to invest in Brazil's medical marijuana market, despite a lack of support from Brazil's government. There is no legislation in favor of legalizing medical marijuana in Brazil, and the government disapproved of the National National Health Surveillance Agency's proposal to regulate the issue.
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Verdemed, which is building the medical cannabis brand of choice for Latin America, announces a new round of financing that is intended to raise US$9.0 million, including a lead order of US$3.0 million.
August 30, 2019 - Cision - online
Verdemed is pleased to announce plans for the issue of Round B financing, intended to raise an additional US$9.0 million, including a US$3.0 million lead order from its current financial backers, to further advance its drug development program, to continue with the outdoor cultivation of medicinal cannabis in Cali, Colombia, and to expand its Verdemed Care platform from Brazil to Colombia and Mexico.
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Verdemed Seeks Financing, Strengthens Corporate Governance
August 29, 2019 - Valor - online and print
Verdemed, a Canadian-based pharmaceutical company involved in the production of cannabis-based medicines, has started a second round of financing and is strengthening its corporate governance as it prepares for an IPO planned for 2020. Among the investors in this startup are Helio Seibel, a director of Duratex and CEO of Leo Madeiras, and Decio Goldfarb, a director and former vice-chairman of Lojas Marisa…
More information:
https://www.valor.com.br/empresas/6412093/verdemed-busca-mais-capital-e-reforca-governanca (in Portuguese only)
Verdemed, which is building the medical cannabis brand of choice for Latin America, announces the appointment of Mr. David Beatty as a member of its Board of Directors, and Mr. Alexandre Penha as Chief Financial Officer
August 29, 2019 - Cision - online
Verdemed is pleased to announce the appointment of Mr. David Beatty as a member of its Board of Directors, and Mr. Alexandre Penha as Chief Financial Officer. Mr. Beatty and Mr. Penha have extensive Canadian capital markets experience, with solid track records of raising capital, building enterprises, managing IPOs and leading publicly traded companies.
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Challenges and Opportunities for the Cannabis Market in Brazil and Abroad: For entrepreneurs, there are strategies that may make it easier for medical marijuana to be legalized.
August 27, 2019 - Epoca Negócios - online
…For José Bacellar, president of Verdemed, keeping cannabidiol (CBD) out of any discussion of cannabis can be an effective step in taking that discussion in a more constructive direction. In the United States, he explains, the federal regulator was able to do this by removing only cannabidiol from the list of banned substances…
More information:
https://epocanegocios.globo.com/Empresa/noticia/2019/08/os-desafios-e-oportunidades-do-mercado-de-cannabis-no-brasil-e-no-exterior.html (in Portuguese only)
Until Anvisa makes its decision, a multi-billiondollar Cannabusiness market will not be established
August 20, 2019 - Hypeness - online
The market for medicinal cannabis has tremendous potential for growth. Studies have shown that by 2028, sales in Latin America could amount to as much as US$12 billion. Although there is clearly a long road ahead before any standards are approved, the market is very optimistic.…
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https://www.hypeness.com.br/2019/08/enquanto-anvisa-nao-se-decide-o-mercado-bilionario-do-cannabusiness-se-organiza/ (in Portuguese only)
The campaign for medicinal cannabis causes friction among companies and activists
August 19 2019 - Veja - online
…For José Bacellar, CEO of Verdemed, the campaign is nothing more than a communication strategy aimed at reducing society’s resistance to the topic, while also influencing Anvisa itself. “Saying that CBD is not marijuana is our marketing strategy to help fight the prejudice against cannabinoid-based medicines. We don’t want to feed the extremes of the discussion by encouraging the same old clash between prohibitionists and the ‘legalize’ group. We are proposing a path for consensus. Our main goal is to get Anvisa to remove CBD from the list of controlled substances, which will make life easier for everyone. For us, CBD should be considered a natural product that can be consumed legally, with easy access, just as it is in several other countries,”…
More Information:
https://veja.abril.com.br/blog/cannabiz/campanha-pro-cannabis-medicinal-gera-atrito-entre-empresas-e-ativistas/ (in Portuguese only)
Marijuana Gets More Attention in Brazil
August 16, 2019 - O Estado de São Paulo - online and print
…Canadian pharmaceutical company Verdemed has established an information platform and support services for the importation of cannabinoid-based products. Through its four interfaces, the platform will make available data on the medicinal use of marijuana in Brazil and around the world, technical information for doctors, and guidelines on the procedures for direct importation for personal use. Through this initiative, the company expects to gain 20% of the market for these products in Brazil by 2020…
More information:
https://economia.estadao.com.br/blogs/coluna-do-broad/em-debate-na-anvisa-e-senado-maconha-ganha-empurrao-informativo/ (In Portuguese only)
Bolsonaro e Villas Bôas need to talk about cannabis
August 15, 2019 - Época - online and print
The general defends regulated medicinal use of the plant, a move that has been criticized by the president and Osmar Terra
…“Anvisa wants to build a vault, a safety-deposit box, to grow cannabis in a tropical country. But that’s fine; it’s better than nothing,” stated José Bacellar, CEO of the Canadian pharmaceutical company Verdemed, which plans to invest US$80 million in the Brazilian market by 2022.”…
More information:
https://epoca.globo.com/bolsonaro-villas-boas-precisam-falar-da-cannabis-23878352 (in Portuguese only)
Cannabidiol, a marketing challenge
August 15, 2019 - Panorama Farmacêutico - online
By October 2019, Brazil should have reached a conclusion about proposals for the cultivation of cannabis sativa – the plant from which marijuana originates, which is currently classified as an illegal drug – and the production of medicines based on cannabis sativa, as well as medicines based on cannabidiol, the base compound for a series of medicines that are effective as analgesics, antispasmodics, soothing agents and sedatives, among other properties.
More information:
https://panoramafarmaceutico.com.br/2019/08/15/canabidiol-um-desafio-para-o-marketing/ (in Portuguese only)
Anvisa will increase access to medicinal cannabis
August 14, 2019 - Folha de São Paulo - online
Anvisa’s new regulatory framework will increase patients’ access to medicinal cannabis, and the cultivation of cannabis for this purpose will be regulated. This is what pharmacist Alessandra Soares Bastos, the director of Anvisa, said in an interview with Cannabis Inc. at the conclusion of a forum held by Lide Futuro in São Paulo on August 13, 2019.
More information:
https://cannabisinc.blogfolha.uol.com.br/2019/08/14/anvisa-vai-aumentar-acesso-a-cannabis-medicinal/ (in Portuguese only)
Verdemed Care Portal
August 13, 2019 - Folha de São Paulo - online
…One of the objectives of the Verdemed Care portal is to bring patients together with specialist doctors. “The proportion of doctors who prescribe cannabinoids is still very low. Patients do not know where to turn,” says Jairo Koda, director of Verdemed Care. “The platform sets out the possibilities very clearly for each type of treatment. For example, we will emphasize the importance of buying medicine with the concentration that has been prescribed.”
More information:
https://cannabisinc.blogfolha.uol.com.br/2019/08/13/laboratorios-usam-portais-para-capitar-consumidor/ (in Portuguese only)
São Paulo Hosts Discussion of Cannabidiol Market
August 12, 2019 - Guia da Farmácia - online
Cannabusiness: discussion about the market potential of the cannabis sativa compound cannabidiol (CBD) in Brazil and around the world, which could be worth billions.
…This event will be restricted to Lide Futuro’s affiliates and companies in the sector, and will be attended by José Bacellar, CEO and founding partner of Verdemed; Mara Gabrilli, a registered user of cannabidiol-based medicines and an advocate of regulation; and Viviane Sedola, founder and CEO of Dr. Cannabis. The forum will discuss opportunities, challenges and legal obstacles, along with the outlook for Brazil, as the National Health Regulatory Agency (Anvisa) begins the regulatory process that will facilitate a market for medical products still subject to social stigma…
More information:
https://guiadafarmacia.com.br/sao-paulo-recebe-debate-sobre-mercado-do-canabidiol/ (in Portuguese only)
Anvisa Discusses Medicinal Cannabis in São Paulo
August 12, 2019 - Folha de São Paulo - online
Pharmacist Alessandra Bastos Soares, the director of Brazil’s National Health Regulatory Agency (Anvisa), will be in São Paulo on August 13 to discuss medicinal cannabis with entrepreneurs active in the industry. The director confirmed her presence at Cannabusiness, a forum organized by Lide Futuro, a content, event and networking platform for young leaders.
“I want to bring perspectives from Canada and Colombia to the leaders of Lide Futuro. Business is in full swing in those countries,” says José Bacellar, CEO of Verdemed, a Canadian company that operates a pharmaceutical laboratory. “I will also share my experience with medicinal cannabis.”
More Information:
https://cannabisinc.blogfolha.uol.com.br/2019/08/12/anvisa-debate-cannabis-medicinal-em-sao-paulo/ (in Portuguese only)
Cannabis Market in Brazil May Take Off in 2020
August 08, 2019 - Epoca Negocios - Globo - online
Pioneers in the legal cannabis market, a relatively unexplored territory, have very large ambitions. A number of entrepreneurs are preparing to operate in Brazil as soon as local business opportunities are available.
More information:
https://epocanegocios.globo.com/Economia/noticia/2019/08/mercado-da-maconha-no-brasil-pode-decolar-ja-em-2020.html (in Portuguese only)
Medicinal Cannabis without the Hysteria
July 30, 2019 - O Globo - online
Brazil is capable of making a strong entry into global industrial hemp production and becoming one of the world’s agribusiness giants. The country has competitive advantages that equip it for success in this market, which will grow to more than US$13 billion in the coming years. But Brazil’s entry into the international hemp market depends on the regulation of cannabidiol (CBD), and thus on the medicinal use of cannabis.
More information:
https://oglobo.globo.com/opiniao/artigo-cannabis-medicinal-sem-histeria-23841232 (in Portuguese only)
Verdemed CEO and founder José Bacellar: “It’s essential to get people to move on from either ‘legalize it!’or‘the devil’s herb,’ and leave only the adults in the room. This is a discussion about public health and economic potential.”
July 12, 2019, São Paulo - Isto é Dinheiro - online
Large companies in the medical cannabis sector are starting to enter Brazil to invest in a market that can potentially be worth billions, at a time when the rules for the industry are becoming clearer…
More information:
https://www.istoedinheiro.com.br/maconha-s-a/ (in Portuguese only)
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Laboratories are beginning to invest in the production of plant-based medications, as well as synthetic and natural cannabidiol, upon approval by Anvisa.
June 27, 2019 - Valor Setorial Saúde - impresso
…Verdemed will invest US$10 million in Brazil to buy the Mydstein labora-tory, which acts as an im-porter of medicines, and to establish the Verdemed Care unit, which will be re-sponsible for the e-com-merce operations of its phytotherapeutic product line…
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Verdemed purchases laboratory and plans to invest US$10 million in Brazil in 2019
June 23, 2019 - São Paulo, O Estado de São Paulo - online
Verdemed, a Canadian cannabinoid-based pharmaceutical company, has acquired the Mydstein laboratory in São Paulo for US$1 million. However, the company’s plans for the Brazilian market go further. Its current objective is to invest US$10 million through the end of this year to expand the sale of cannabis-based medicines (medical marijuana) in Brazil.
More information:
https://economia.estadao.com.br/blogs/coluna-do-broad/verdemed-compra-laboratorio-e-preve-us-10-mi-no-brasil-em-2019/ (in Portuguese only)
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Anvisa initiates public consultations on the cultivation and medicinal use of cannabis
June 12, 2019, São Paulo - O Estado de São Paulo - in print and online
Brazil’s National Sanitary Surveillance Agency (Anvisa) will present a proposal for the authorization of marijuana cultivation and production in the country for medical and scientific purposes. The new rules provide for limited cultivation by accredited companies in enclosed locations. Associations and relatives of patients who currently have legal permits for the production of cannabidiol extract will be prohibited from handling the plant.
More information:
https://saude.estadao.com.br/noticias/geral,anvisa-coloca-cultivo-e-uso-medicinal-da-maconha-em-consulta-publica,70002865422 (in Portuguese only)
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Anvisa proposal for cannabis regulation for medicinal use
June 11, 2019, São Paulo - O Estado de São Paulo - in print and online
The Brazilian regulatory agency Anvisa will present for public consultation a proposal to authorize the cultivation and production of cannabis in the country for medical and scientific purposes; currently the agency authorizes the importation of plants for research purposes or for use by the pharmaceutical industry.
More information:
https://saude.estadao.com.br/noticias/geral,veja-a-proposta-da-anvisa-para-regulamentacao-da-cannabis-para-uso-medicinal,70002865957 (in Portuguese only)
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Anvisa public consultations on cannabis generate optimism
June 11, 2019, São Paulo - Valor Econômico - in print and online
…“We hope that Anvisa proceeds with its conclusions on legislative reforms around the treatment of childhood epilepsy, to permit the importation of cannabis-based medications for distribution and sale to patients in Brazil,” says the president of the company, José Bacellar…
More Information:
https://www.valor.com.br/empresas/6300857/consulta-da-anvisa-sobre-cannabis-gera-expectativa
(in Portuguese only)
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Actor Jim Belushi becomes a promoter of the medical marijuana industry
May 21, 2019, São Paulo, Folha de São Paulo - in print and online
…Verdemed is hoping for changes in legislation that will permit it to operate legally in that country’s market, where demand is still supressed. Meanwhile, the company is carrying on with business elsewhere. In Colombia, it acquired part of Greenfarma after raising US$12.7 million from São Paulo investors early in the year…
More information:
https://www1.folha.uol.com.br/equilibrioesaude/2019/05/ator-jim-belushi-vira-promotor-da-industria-da-maconha-medicinal.shtml (in Portuguese only)
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Entrepreneurs seek investments while awaiting medical marijuana market in Brazil
May 11, 2019, São Paulo, O Globo - online
…Verdemed began growing cannabis in Colombia, where it plans to produce a thousand litres of oil per year from the plant as raw material for medications. In Brazil, the company purchased a laboratory in São Paulo, which has already received authorization from the Brazilian Health Regulatory Agency (Anvisa) to import cannabidiol-based medicinal products…
More information:
https://oglobo.globo.com/economia/empresarios-levantam-investimentos-espera-de-um-mercado-medicinal-de-maconha-no-brasil-23651901 (in Portuguese only)
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Verdemed explores the market for cannabinoid-based medications in Colombia
May 09, 2019, São Paulo - São Paulo, Panorama Farmacêutico - online
ExpoCannabiz, the first conference on the cannabis market to be held in South America, brings together experts and investors on May 9-11 in the city of Cartagena, Colombia. “The cannabis industry in Latin America has a potential market in the order of US$24 billion. Brazil represents 24% of this amount,” says José Bacellar, president of Verdemed, the only cannabinoid-based pharmaceutical company operating in Brazil that is attending the conference…
More information:
https://panoramafarmaceutico.com.br/2019/05/09/verdemed-discute-mercado-de-medicamentos-a-base-de-canabinoides-na-colombia/ (in Portuguese only)
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Verdemed, a Canadian medical cannabis company focused on doing business in Latin America, announces that it has raised US$12.7M to fund its business plan
April 16, 2019, Toronto - CISION, online.
TORONTO, Ontario, April 16, 2019 /CNW/ – VERDEMED HOLDINGS INC. (“Verdemed” or the “Company”) is pleased to announce that it has succeeded in raising a total of US$12.7M to fund its business plan for building the brand of choice for medical cannabis in Latin America. Verdemed secured US$650,000 in seed funding in late 2018. In March 2019, the Company confirmed the successful completion of a first round of financing, after raising US$12M from qualified Latin American private investors. This investment is to be completed in two stages: an initial capital instalment of US$6M in convertible debt, and a second instalment of US$6M in equity investment. Verdemed will use the proceeds to complete the acquisition of strategic assets in Colombia and Brazil announced on October 2, 2018, and to continue the development of its business plans in Chile and Mexico.
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Verdemed, a Canadian medical cannabis company focused on doing business in Latin America, is sponsoring the 3rd Benzinga Cannabis Capital Conference in Toronto
April 16, 2019, Toronto - CISION, online.
TORONTO, April 16, 2019 /CNW/ - VERDEMED HOLDINGS INC. ("Verdemed" or the "Company") proudly announces its sponsorship of the 3rd Benzinga Cannabis Capital Conference, taking place on April 17 and 18, 2019, at the Fairmont Royal York in Toronto.
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Verdemed is proud to sponsor The Latin America Regional Cannabis Report: 2019 Industry Outlook (New Frontier Data).
“The purpose of the report is to provide an overview of cannabis legalization and regulation trends and issues in key Latin American markets in order to support operators and investors in guiding business strategy for emerging sectors.”.
More information:
http://newfrontierdata.com/product/latam2019/
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Cannabis: Wayland Group reaches out to Verdemed
January 11, 2019, São Paulo - O Globo, online.
Two executives from Wayland Group, a Canadian company that sells cannabis-based products, are in Brazil to make a proposal to Verdemed, a start-up that includes Brazilians among its founders.
Wayland wants to buy 10% of Verdemed for US$6 million. Focused on cannabis-based products, the company is valued at US$54 million.
For Wayland, which has operations all over the world, the main appeal of Verdemed is its operations in Latin America, especially in Brazil and Chile.
The plan, which is still at an early stage, is to fold it into a new company of global scale, to be created by Wayland.
The discussions are serious and, if it succeeds, the deal should close before Carnival, which this year takes place in March.
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Brazilians change life and country to invest in legalized cannabis
Initiatives range from websites to courses and medicines
December 02, 2018, São Paulo - O Globo, online.
[…] Executive José Bacellar, who has lived in Canada for ten years, noticed the move in the market last year and decided to change the scenery…
[…] Bacellar met with other Brazilian executives and doctors to set up Verdemed, a medical cannabis company. Since then, he says, he spends half the time in the air: between Chile, Colombia, Uruguay, Mexico, Brazil and the United States. Before opening the business, he still spent three months in London at an internship following biotechnology laboratories applied to medical cannabis. Your company takes care of everything from planting to delivering medicines to patients.….
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Verdemed invests in cannabis-based medications.
November 12, 2018, São Paulo - Valor Econômico, in print and online.
VerdeMed, among whose founders are executives and doctors from Brazil and Colombia, plans to raise about US$20 million over the next two years to invest in the development of cannabis-based medications. The first funding round, with a goal of raising US$6 million, attracted the interest of Brazilian investors and may be concluded in 2018. Another two rounds are planned for 2019 and 2020 and, if progress is as scheduled, the goal is for an initial public offering in 2021 in Canada, where the company’s headquarters are located.….
In Brazil, marijuana startups wait for change in legislation to act.
October 14, 2018, São Paulo - O Estado de São Paulo, in print and online.
Despite drug commerce being illegal in the Country, companies created to explore the medicinal use of the substance attract investors.
The market of marijuana has always been lucrative - but illegal. On the american continent, one of the first countries to change its rules was Uruguay, who regulated the production and commercialization of cannabis in 2013. Canada, Colombia, Peru, Mexico and over 20 USA states have also altered their legislation, each with their own particularities, in favor of the legal commerce of the drug. The result was the birth of promising new businesses…
Verdemed Looks to Raise $5M to Acquire Colombian Licensed Producer & Brazilian Lab
October 2, 2018, Toronto - CISION, online.
VERDEMED HOLDINGS INC. (“VerdeMed” or the “Company”) is pleased to announce that it is undertaking an equity offering for gross proceeds up to US$5 million and, to date, has received US$600,000 in funding commitments from Brazilian and Colombian qualified investors. The Company plans to use the proceeds of the offering to complete strategic asset acquisitions in Colombia and Brazil and to further its business plans.
VerdeMed holds rights to acquire a significant stake in a Colombian Licenced Producer -LP, which currently has a 3,000 sq ft indoor growing and industrial extraction facility, together with an option to buy the remaining interest in the LP. The LP is operational and fully licensed to plant, grow, extract, formulate and sell medicinal cannabis products. The LP plans to harvest its first crop and complete its initial medicinal cannabis oil sales by the end of this year…
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