Uruguay Awards Two Marijuana Permits to Investors
Uruguay has selected two companies backed by local and foreign investors to grow recreational pot for distribution in the South American country’s pharmacies.
Simbiosys SA and Iccorp were among a short list of 11 companies including Canadian medical marijuana producer Tilray that bid for licenses to grow as much as two tons of pot a year.
Simbiosys, whose investors are Uruguayans and Argentines, could invest as much as $2 million in its operations, Gaston Rodriguez, a company partner, said in a telephone interview Friday.
"It’s a historic change in a country that is very conservative in some aspects," said Rodriguez, a 43-year-old industrial design professor. "Uruguay has taken up the challenge of proposing a different way to fight drug trafficking."
The first offering of pot could hit pharmacy shelves in about eight months, Juan Andres Roballo, chairman of the National Drugs Board, said at a news conference Thursday.
Uruguay is among...
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