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Lesotho attracts another major medical cannabis investment

Marijuana Business Daily reports on Supreme's investment in Medigrow Lesotho.

'Toronto-based Supreme Cannabis will invest 10 million Canadian dollars ($7.7 million) for a 10% stake in Medigrow Lesotho, the companies announced in a news release.'

The article reports John Fowler, president and CEO of Supreme Pharmaceuticals, as saying, "“The country’s climate, the political and economic environment, and the caliber of the team, made Lesotho a no-brainier for us.”

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Read this article on Marijuana Business Daily
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Supreme Announces Investment in Medigrow Lesotho and Establishes Global Cannabis Oil Distribution Partnership

In a press release Supreme announces :

  • Supreme Cannabis has entered into a definitive agreement to complete a $10,000,000 strategic equity investment in Medigrow Lesotho (PTY) Limited ("Medigrow"), a Federally licensed producer of cannabis in the Kingdom of Lesotho.
  • Supreme Cannabis and Medigrow have established a global distribution partnership of medical cannabis oils.

The article further states that:
'Supreme Cannabis expects strong demand to exceed supply for medical cannabis oil globally and believes Lesotho is well suited to produce quality cannabis oil and Medigrow possesses the expertise to meet the highest quality standards.'

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Read the full press release on Supreme