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Home 🌿 Cannabis Technology News 🌿 International Goldfields jettisons mining for Uruguay cannabis 🌿International Goldfields jettisons mining for Uruguay cannabis
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The subscription service is currently unavailable. Please try again later.International Goldfields (ASX:IGS) is firmly on the road to gaining a dominant position in the legal cannabis market of Uruguay with a binding agreement to acquire an 85% interest in local Winter Garden Biosciences.
Uruguay recently became the first nation in the world to fully legalise under its federal regulatory system the research & development, as well as cultivation, distribution, sale and consumption of non-synthetic cannabinoids and hemp.
IGS will transform from a miner to a cannabis supplier with a reverse takeover by Winter Garden completed within seven weeks upon receipt of all approvals.
Winter Garden, a private biosciences and pharmaceutical company in Uruguay is the subject of a binding heads of agreement with IGS.
By producing “hemp” rather than “marijuana”, Winter Garden will look to produce a high volume of Cannabidiol (CBD) rich extracts which are in high demand in legal marijuana markets given...
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