Producing a gram of cannabis in Colombia costs 5¢, compared to about $1.50 in Canada
Near the jungles of Colombia, Canadian companies seek their fortunes in the legal marijuana trade.
At least seven licensed Canadian cannabis producers – including Chemesis International Inc. (OTC: CADMF; CSE: CSI) – either set up shop in Colombia or signed business agreements with local companies. This means a total investment by Canadian companies of more than $100 million.
“Chemesis is continuing its expansion into the Latin American market, a region the company believes is poised for international growth and expansion” said Chemesis CEO Edgar Montero.
The multi-million-dollar deal Chemesis (OTC: CADMF; CSE: CSI) signed with La Finca Interacviva-Arachna Med SAS of Colombia will help develop seed strains with high-quality concentration of CBD, the non-addictive, non-hallucinogenic part of the cannabis plant. The partnership should improve crop yields and shorten the growing cycle. CBD is popular in products with medicinal benefits.
With a tropical climate ideal for cultivating cannabis, experienced growers, comparatively low wages and a population of 50 million, Chemesis sees Colombia as an ideal place to invest.
Canadian cannabis investors say they hope to replicate the model used by small cap mining and energy firms, where the Canadian Stock Exchange becomes the main hub to raise capital to invest into markets like Colombia.
Former Colombian president Juan Manuel Santos spearheaded the cannabis legalization effort before he left office in the summer. Santos, who smoked marijuana as a student in the U.S., said legalization would take money out of the hands of traffickers and spur economic growth in Colombia.
One of the most attractive features of the deal Chemesis made is cost: producing a gram of cannabis in Colombia costs five cents compared to about $1.50 in Canada.
The main reasons are lower wages and better growing conditions.
Almost every day in Colombia sees 12-hours of sunshine. Rainfall is perfect: not too much and not too little.
The minimum wage in Colombia is about $1.64 per hour, compared to $14 per hour in Ontario.
Chemesis sees the future in sales of cannabis-infused creams and beauty products as Latin American women spend a fantastic amount on cosmetics.
Colombians with ailments including chronic pain, epilepsy, PTSD and sleep disorders will be able to ask doctors to prescribe cannabis. Chemesis hopes Colombia’s domestic market will include six million potential patients and hopes for tens of millions more in other Latin American countries.
Colombians with ailments suitable for CBD-based medicinal products spend about $550 (US) annually on treatment.
An established partner, a cooperative government, and a population eager to purchase their products, combine to make the Chemesis International Inc. (OTC: CADMF; CSE: CSI) expansion into Colombia a great potential winner for smart investors who take advantage of the opportunity.
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