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Home 🌿 Medical Cannabis News 🌿 International Goldfields signal move into medicinal cannabis market 🌿International Goldfields signal move into medicinal cannabis market
Perth-based metal explorer company International Goldfields will head to market within weeks to raise money for its foray into medicinal cannabis in South America.
The company is acquiring an 85 per cent stake in Uruguayan pharmaceutical company Wintergarden, giving it access to laboratories and cannabis plantations there.
It might be unchartered territory for a company more familiar with golden nuggets, but director David Tasker said it was a necessary step with markets unwilling to fund exploration.
"It's diversifying out of something that the capital markets aren't supporting," he said.
"We have mining assets that we like but we just couldn't get support for them, so ultimately what we're looking to do is invest in something that the capital markets will support."
...There's far too many small mining companies around, they're trying to reinvent themselves and what better way than in a new risk capital
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