Canadian giant Canopy Growth sets up in Colombia

On August 11, 2017, the Colombia legalizes medical cannabis. Less than a year later, the Canadian company Canopy Growth recently announced a gigantic investment plan for Latin America.

Canopy Growth corporation, a Canadian company founded in 2014, is one of the world's leading producers of medical cannabis. Its strategy focuses on investment and market share, and its operations span 5 continents and 9 countries. The company currently has 10 licensed production sites with a capacity of 2.4 million plants. Canopy Growth has also established partnerships with icons such as Snoop Dogg and Greenhouse Seeds.

In an advertisement published yesterday, the company unveils a far-reaching plan, with the creation of a subsidiary called LATAM (short for Latin America) The main objective: to take the lead in the legal cannabis market in this region of the world, already known for its local varieties and large-scale trafficking. For the moment, the plan is focused on Colombia, with the purchase of the company Spectrum Cannabis Colombia S.A.S.which already has ideal locations and the appropriate licenses to manufacture and export cannabis products.

Canopy Growth enters an area that is profoundly transforming its cannabis laws. Uruguay was the first country to legalize cannabis completely, the Mexico has legalized the medical use, and the Peru.

Canopy is also looking for an ideal climate and Colombian experience, as stated in the announcement published by Canopy: «Colombia has a proud history of agricultural production and global leadership, from coffee and cocoa to roses and orchids, and thanks to progressive cannabis legislation, is strategically positioned to serve Canopy Growth's production, processing and export for Latin America».