Its understood that with the legalization of ganja in Canada, there are at least six medicinal cannabis companies out of Canada that are establishing operations in Jamaica.
Among the latest companies to express an interest in Jamaica as the site for their unique investment, is Kronic Relief Jamaica, a new vertically integrated Cannabis company recently granted 7 conditional licenses to operate in Jamaica.
Land clearing and pre-construction activities began last week for a US $20Million KRJ facility in Buff Bay, Portland on lands which once served as the site of Crystal Springs entertainment centre.
In keeping with the provisions of its licenses, KRJ is clearing, fencing and fitting the property with security cameras. Construction of the facility will begin later this year.
It will be a modern facility engaged in a range of medicinal Cannabis activities for the local and international medicinal Cannabis market.
Kronic Relief Jamaica was launched in Jamaica in March this year, after receiving its conditional licenses to operate from the Cannabis Licensing Authority.
The aim is to establish a world-class facility engaged in a range of medicinal Cannabis activities including research and development, production, and extraction, which is expected to create hundreds of jobs in the Portland area.
The move by KRJ comes as Cannabis was recently legalized in Canada, paving the way for increased cooperation with Jamaica in this age-old yet “new” industry.
Noting developments in the legalization of Cannabis in Canada, CEO of KRJ, Mr. Steven Conville said, “Canada and Jamaica have enjoyed a longstanding and mutually beneficial relationship.
Once there is greater clarity between these two nations on the conduct of business in this new area, I see a time, in the not too distant future, where Jamaican Cannabis will be to Canadians as Atlantic Codfish is to Jamaicans. ”
Mr. Conville observed that there was now a virtual rush on in many countries to cash in on the growing significance of the international Cannabis market.
He said Jamaica would need to carefully and quickly position itself to compete with the various territories in North and South America and elsewhere that have been using largescale holdings to establish formidable advantages as economical supply sources of Cannabis for an international industry that is only now beginning to gain some legitimacy.
He says that based on its extensive work in Canada, the Kronic Relief team is far advanced in plotting a path of success for Kronic relief Jamaica as a high level operation so that the company can hit the ground running in the domestic and international markets, once all the preparatory work and construction have been completed.
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