• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • News
  • Lifestyle
  • Wellness
  • Cuisine
  • Product Reviews
  • Subscribe
Cannabis News and Culture Magazine

Cannabis News and Culture Magazine

Cannabis News and Culture Magazine

Emerald Media News Subscription
  • Print Magazines
  • 100+ Minority-Owned Companies to Support
  • No Pipe, No Problem
  • Blunt vs. Joint
  • The Cost of Cannabis in Each State
  • Calculating Your Edibles Dosage
  • Flintts Mouthwatering Mints

VerdeMed, a Latin America Cannabis Company, announces US$5.0M offering to finance the acquisition of a Colombian Licenced Producer and a Brazilian Pharmaceutical Laboratory

October 2, 2018 by Emerald Media Group Leave a Comment

This information was provided by prnewswire

Send your Press Release here.

TORONTO, Oct. 2, 2018 /CNW/ – 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.

VerdeMed will also use the offering proceeds to assist the Colombian LP to achieve its expansion plans, which include (i) the acquisition of 130,000 sq ft of ready-to-plant land circa its extraction installations in Colombia; (ii) building 29,000 sq ft of outdoor cannabis greenhouses to grow for the extraction of THC/CBD oil, with the first crop planned for late April 2019; and (iii) in the same land, the expansion foresees another 29,000 sq ft of Hemp for CDB oil extraction in August 2019. The LP has advised that it currently expects to generate gross revenues of US$3.7M in 2019 and US$12M in 2020 based on its current industrial capacity and the planned outdoor growth production.

VerdeMed owns the rights to acquire a Pharmaceutical Laboratory in Brazil that holds Controlled Substances Import Licenses and Quality Control Facilities. Verdemed plans to use a portion of the proceeds of the offering to complete this acquisition. Following the completion, VerdeMed intends to present its regulatory strategy to Anvisa (Brazilian Health Regulatory Agency), including its drug development plans for CBD, and its clinical trials protocols for testing a proprietary THC/CBD gel caps formulation targeted at sleep disorders treatment.

VerdeMed has offices in Brazil, Chile, Colombia, and Toronto. The Company intends to build management teams and pharmaceutical regulatory affairs partners in Argentina, Mexico, and Peru by the end of the year following the completion of the offering. VerdeMed plans to establish a comprehensive business footprint over all of the most significant legal markets in Latin America for medical cannabis and cannabinoid-based pharmaceuticals.

Filed Under: Press Release Tagged With: Press

Reader Interactions

Leave a Reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube

Subscribe to Emerald's Newsletter

loader

Advertise Here

Categories

Sustainability

seaweed naturals

SeaWeed Naturals Combines the Power of Seaweed with Cannabis to Further Ocean Restoration

April 3, 2022 By Maggie Horton

fungi climate change

Research Finds Fungi Help Ease Climate Change and Benefit the Environment

March 30, 2022 By Julia Meyer

climate crisis and the pandemic

“We Can Act:” What Bending the COVID-19 Curve Teaches Us About the Climate Crisis

April 21, 2020 By Melissa Hutsell

Footer

  • Subscribe
  • About
  • Contact
  • Privacy
  • Press

Recent

  • Alyza Brevard Rodriguez: Paving the Path to Progress in New Jersey’s Cannabis Industry
  • Unlocking Banking Reform: CEO of Safe Harbor Financial Sundie Seefried Discusses the SAFER Banking Act and the Future of the Cannabis Industry
  • Pioneering Pleasure: Lavinia’s Katie Enright Redefines Sexual Wellness with Plant-Powered Innovation
  • Cannabis Culture Meets Creative Collaboration: Gelato Canna Co. and Phix’s Innovative Partnership
  • Dutchie’s Bryan Barash Sheds Light on the Future of Cannabis Banking with SAFER Act

Search

Copyright © 2023 · The Emerald™ · News & Lifestyle Magazine

We are using cookies to give you the best experience on our website.

You can find out more about which cookies we are using or switch them off in settings.

Cannabis News and Culture Magazine
Powered by  GDPR Cookie Compliance
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.

Strictly Necessary Cookies

Strictly Necessary Cookie should be enabled at all times so that we can save your preferences for cookie settings.

If you disable this cookie, we will not be able to save your preferences. This means that every time you visit this website you will need to enable or disable cookies again.