The world’s largest marijuana producer has expanded south from its home in Canada for the opportunity to gain a strong foothold in the Jamaican cannabis market.
Canopy Growth Corporation announced yesterday that it has purchased a 49-percent share in a company formerly known as Grow House JA Limited. The company will now be called Tweed JA, named after the Tweed subsidiary division of the Canadian giant. Tweed will implement its established cultivation and processing techniques to serve the growing Jamaican medical cannabis market.
It’s been reported that Tweed JA has been granted conditional license approval and started construction on a cultivation facility.
There has been some debate over Jamaica’s ability to support a large-scale grow operation, mainly due to the existence of many “mom and pop“ sellers on the island. Nevertheless, Canopy has been able to identify and capitalize on other international markets including Germany, Denmark, Brazil, and Australia.
Trading for Canopy Growth has been incredibly active as shares have risen in value more than 50 percent in the last three months. This surge has been attributed to increased investor…