On Thursday, November 21, the Minister of Industry, Commerce, Agriculture and Fisheries, Hon. Audrey Shaw, broke the ground on the 113-acre hemp farm located in Lennox Bigwoods, Westmoreland. The farm is owned by Virtudes Company Limited, which is a wellness organization with an investment of $1 million.
Virtudes Company Limited was awarded licenses for the cultivation and production of hemp-based products. These products include hemp flower and cannabidiol oil. The company would also be in a position to supply the products to health and wellness companies located in the U.S. and around the globe.
Virtudes Company Ltd. has already employed 35 farmers from the area to work on the farm. The first harvest is expected by March 2020.
During the breaking ground event, Mr. Shaw said that the investment by Virtudes would advance Jamaica’s recognition as a world leader in the hemp and marijuana industry.
He further said that since Jamaica is known to have the best weed in the world, they are also going to excel in medicinal hemp oil internationally. Minister Shaw also noted that he expects excellence from Virtudes.
The Minister noted that there would be reduced importation of CBD oil due to the increased cultivation and production of marijuana locally. Therefore, patients would be using locally produced products to treat pain, depression, and manage cancer symptoms, as well as a range of other medical conditions.
He further said that large corporations in Jamaica are importing CBD oils, and since there is enormous demand, it is selling quickly across the country. Minister Shaw was of the view that Virtudes Company Limited presents Jamaica with a valid offer of growing its own hemp for the production of medicinal CBD oils instead of wholesale importation.
He also noted that the local industry has much potential because Dr. Henry Lowe is conducting a cancer study where he is using a particular strain of marijuana to develop medicine for treating pancreatic cancer.
Minister Shaw further said that Dr. Lowe developed a drug that was approved by the U.S. Food and Drug Administration (FDA). The drug is currently being developed as an orphan drug.
The chief executive officer of Virtudes Company Limited, Jamiel Jamieson, said that the company is doing everything for Jamaica and its communities.
Jamieson also expressed his appreciation to everyone who assisted Virtudes Company Limited during the successful launch of their project. He further said that the company would soon introduce another innovative marijuana business on the local Jamaican market.
Experts say hemp industry players like LiveWire Ergogenics Inc. (OTC: LVVV) and No Borders Inc. (OTC: NBDR) are glad that Jamaica is kick-starting its own local production of CBD from hemp.
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