Lasco Manufacturing Ltd has formed a new company, Lasvac, to manufacture medicinal ganja products. In a joint venture with United Cannabis and Cannabinoid Research and Development CRD, Lasco will be making medicinal marijuana products in the form of roll-ons, balms, sublingual and capsules. The agreement is said to be valued JA $12.8 billion or US$103 million. The products will be exported to Caribbean Islands which are native English speakers and Central America.
Lasco Manufacturing Ltd is not yet in receipt the license to produce these products but has applied for it through the Cannabis Licensing Authority (CLA). The Cannabis Licensing Authority in Jamaica monitors and regulates the legal marijuana industry in the island. Lasco has not released a lot of information on the venture but has stated that the company has located 30,000 square foot of space nearby its White Marl warehouse and hopes they can begin operations in the third quarter of 2018 as they are prepared with all necessary equipment ready.
Lasco is pushing for approval for the growing of marijuana in large quantities in time for manufacturing. This production will be of great advantage to Jamaican farmers as it will be a source of income. Already, interested buyers from other countries such as Australia have placed orders for some of the medicinal products while countries such as Canada, Italy, Europe and Ukraine have expressed interest in the authentic ‘Made in Jamaica’ labelled products.
Lasco will be offsetting US$100 Million for the manufacturing and distribution of the products while United Cannabis will be responsible for the US$3 Million difference. Furthermore, the CRD will be responsible for growing and producing the best seedlings of marijuana for production. Marijuana is reported to be beneficial for treating pain, dementia, epilepsy, cancer, insomnia and other illnesses.
If you want to start investing with SSL but don’t have the time to monitor the market or to conduct the trades yourself then you can choose one of SSL’s managed Financial Planning products. We offer a variety of products for every type of investor and if you are interested in managing online trades yourself and having complete control over your investment portfolio then you can try SSL’s Brokerage account.