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Medigrow's Press Releases

  • Medigrow Lesotho enters into a Partnership that facilitates international Medical Cannabis Oil Distribution.
    • Medigrow Lesotho (Pty) Ltd is pleased to announce that it has entered into an agreement for a strategic equity investment by Supreme Cannabis Company Inc. of Canada, valued at C$10,000,000.
    • In addition, Medigrow and Supreme have established a distribution partnership that will facilitate international distribution of medical cannabis oils.
 

SABC On Point Video

Released: March 2019

Medical Cannabis Business to Bring Windfall to Lesotho

Lesotho’s GDP has been declining since 2012. Economic growth has been slowing, recording 2.3 percent growth in 2017 in contrast to a healthy 7 percent growth in 2011, according to fi gures published by the Bureau of Statistics on Tuesday this week. All these leave Lesotho’s economy trailing behind her peers in the Southern Africa region.

Saddled with a high unemployment rate and increasing fiscal problems, Lesotho is frantically looking for alternative ways of growing its economy, more so now more than ever before when SACU revenues are also depleting steadily, as the trade pact’s main benefactor South Africa’s economy struggles with turbulent times.

The textile sector, which employs more than 40 000 workers, making it the second largest employer a er the public service, is also standing on shaky ground due to domestic labour issues and the possibility of US policy changes on AGOA on which garment exports are hinged.

This is why the medical cannabis industry could not have come at a better time.

This week, through Medigrow Lesotho’s communications officer MPHO SEFALI (MS), Public Eye got the following exclusive interview with Dr Deepak Anand (DA), a visiting Canadian expert in the budding industry of medical cannabis to give insight into ways the industry will help grow the economy.

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Medigrow Lesotho enters into a Partnership that facilitates international Medical Cannabis Oil Distribution

  • Medigrow Lesotho (Pty) Ltd is pleased to announce that it has entered into an agreement for a strategic equity investment by Supreme Cannabis Company Inc. of Canada, valued at C$10,000,000.
  • In addition, Medigrow and Supreme have established a distribution partnership that will facilitate international distribution of medical cannabis oils.

Medigrow and Supreme's shared vision and partnership will allow Medigrow to benefit from technology and knowledge transfer, as they draw on the experience of ths highly regarded Canadian company. In turn, Supreme will benefit from sourcing high quality product from Medigrow, grown in a pristine natural environment at Medigrow’s location and processed in compliance with internationally recognised standards for high quality, pharmaceutical-grade medical cannabis oil.

We commend the Lesotho Government for its leadership in establishing the first legal medical cannabis market in Africa, and for its commitment to meeting the highest international standards for regulatory control and product quality. We look forward to the support of other stakeholders who we invite to collaborate with us in order to help the country exploit its natural gift as an ideal cultivation environment. Lesotho has the potential to be recognized as a premium source of supply for high-quality medical cannabis. Medigrow Lesotho hopes to make a significant contribution to the development of a new internationally-recognized medical cannabis industry in the Kingdom of Lesotho and the African Continent.

About Medigrow Lesotho (Pty) Ltd

Medigrow holds an Operator’s License in terms of the Lesotho Drugs of Abuse Act, No.3 of 2008, and is licensed to process and export medical cannabis. Lesotho’s natural environment is well suited to growing high-quality medical cannabis. The Government of Lesotho is committed to ensuring cultivation is done in a controlled and responsible manner. They further commit to ensuring no harm and no diversion of medical cannabis production into the illicit market. Medigrow has the expertise to meet the highest quality standards and is committed to local economic development and sustainable job creation. The Company is very supportive of effective local and international regulations that ensure medical cannabis is well regulated and through which its product can be made available to patients in need and improve quality of life.

About Supreme Cannabis Inc.

Supreme Cannabis is a Canadian publicly traded company committed to becoming a leading cultivator and distributor of sun grown cannabis through its wholly-owned subsidiary 7ACRES. 7ACRES is a federally licensed producer of medical cannabis pursuant to the ACMPR operating inside a 342,000 sq. ft. Hybrid Facility. The Hybrid Facility combines the best technology of indoor production with the efficiencies and sustainability of a greenhouse, in a single large-format production footprint. Please visit www.supreme.ca and www.7acres.com for more information.

Medigrow Lesotho (Pty) Ltd
22nd March 2018