Investors eye Uruguay as medical cannabis export hub

Very nearly six years after Uruguay fully legalized cannabis, investors are eyeing the South American nation as an export hub for medical cooking pot.

Silverpeak Life Sciences Uruguay is in talks with investment bankers to raise $35 million to be able to increase manufacturing fourfold this present year. Silverpeak, which can be among the country’s largest cannabis that are medical organizations, also intends to build a bigger removal laboratory in 2020.

Relating to Silverpeak Life Sciences CEO and U.S. cannabis investor Jordan Lewis, their prepared and desired expansion involves about 25 tons next 12 months. He stated that this expansion is being expected by them to create over $100 million in revenue.

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Investors have already been pouring funds into Canada in addition to U.S. because they seek to make the most of more cannabis that are favorable, that have created a very promising appropriate cannabis market. Uruguay’s cannabis economy, meanwhile, happens to be sluggish to produce inspite of the nation being the in that is first the entire world to legalize cannabis that are recreational.