Plena Global Continues on its Path to Grow Cannabis in Peru
VICTORIA, British Columbia, June 20, 2019 /PRNewswire/ -- Plena Global Holdings Inc. ("Plena Global" or the "Company") is pleased to announce that, with the adoption of the new regulations on the cultivation of medical cannabis (both extract and flower) in Peru, the Company has signed a Letter of Intent (LOI) to acquire a 26M square foot certified organic farm for in Peru. This proposed acquisition supports Plena Global's strategy to grow at scale in the region of the world most conducive to cannabis growth.
Plena Global's longstanding presence in Peru and its relationships with agriculture and industry players sets Plena Global apart from other actors in the global cannabis industry. "Peru represents the world's best growing region for agricultural products, without peer," stated Richard Zwicky, Plena Global's CEO. "Peru is known both as 'nature's greenhouse' and the breadbasket to the world." Plena Global expects that its production capacity in Peru will be at an unprecedented scale.
The Company expects to have high-quality medical-grade cannabis raw material available for the domestic Peruvian market and for exporting globally in early Q1 of 2020 - subject to receiving all necessary licenses within anticipated timelines.
- Peru's climate and soil provides the opportunity to grow at scale and at an even lower cost since no greenhouses are required.
- Peru's legislation offers the opportunity to export not only extract but also flower, for which demand is very high globally.
- With Peru on the way, Plena Global continues to grow and diversify its sources to meet the increasing demand for medical-grade cannabis.
Plena Global's large scale cultivation operation positions the Company to be the world's largest B2B supplier of pharmaceutical grade cannabis ingredients hoping to bring supply chain certainty to companies with cannabis-based medication patents, as well as traditional cannabis licensed producers for whom outsourced supply partners can remove any production constraints.
About Plena Global Holdings Inc.
Plena Global Holdings Inc. is a medical cannabis production company meeting the soaring demands of a rapidly expanding global marketplace with the highest quality medical-grade cannabis raw material. Based in Canada, the Plena Global team has broad experience in the industry and brings together some of the world's top cannabis horticulturists, extraction specialists, and medical leaders.
Driven by a passion for helping people in need, Plena Global brings medical cannabis from plant to patient—naturally, purely, reliably and transparently. With expansive farmland assets dedicated to growing medical cannabis, Plena Global has positioned itself to be the world's largest producer of high-quality medical-grade cannabis, all while adhering to the strictest quality standards.
Plena Global is a strong ingredient supply partner for licensed producers and distributors worldwide.
Plena Global Holdings Inc
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SOURCE Plena Global Holdings Inc
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