MedicanJa Ltd has announced its intentions to list on the Jamaica Stock Exchange in a few weeks. At the helm of the company is Dr. Henry Lowe, a renowned Jamaican scientist who specialises in the development of edible products from Jamaican plants such as cannabis. He is optimistic that this listing will give Jamaicans at home and abroad the opportunity to earn money from their indirect involvement in medical marijuana through investments.
Lowe sees Jamaica as a future hub for medicinal plants as the island grows a majority of the world’s established medicinal plants that can be made into plant based medicinal products.
Marijuana is commercially unexploited in Jamaica. Despite extensive research conducted by the Biotech Research and Development Institute at the University of the West Indies, on its medicinal properties there seem to be very slow progress to changing the current situation. Lowe expressed that there are many possibilities for Jamaica in this area.
Lowe has been successful in making other medicinal plants into commercially accepted products. He has made quality products from bushes such as guinea hen weed, ball moss, moringa, bizzy and many other local products that have been around for many years.
The company has already received a license to operate from the Cannabis Licensing Authority and approval from the Ministry of Health to produce four topical and two oral products for sale.
MedicanJa Ltd was formed in 2013 and is a subsidiary of Eden Gardens Group. Other affiliates in the group include EG Wellness Brands, Bio Tech Research and Development Institute and FlavoCure Biotech LLC.
MedicanJa Ltd will now be a direct competitor to Lasvac, a new company formed by Lasco Manufacturing Ltd (JSE: LASM), which will also manufacture medicinal marijuana products in Jamaica.
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