Is Interest in Cannabis for Therapeutic Solutions Growing?

New Sites support year round Medicinal Cannabis Supply

“Demand from the medicinal cannabis sector continues to increase as international regulations in major global markets change. This in turn is also increasing clinical research and approvals for therapeutic development of medicinal cannabis”- Carl Esprey

Investment holding company Botanical Holdings focused on the legal medicinal cannabis industry announced that its subsidiary CECO Wellness, (EuroCan division), has commenced civil engineering works on its medicinal cannabis cultivation and processing facilities in Mação, Portugal.  In May the project was boosted by a €4.3 million ($5.2 million) grant from the Portugal 2020 Fund; this followed a prior £4.5 million ($6.25 million) equity fundraising by parent Botanical Holdings in a London Stock Exchange pre-listing round. 

The Portugese grant represented over a third of the overall construction budget for the first build phase comprising a 5,000m2 greenhouse and 3,600m2 ancillary/support building, for operations including GMP manufacturing, processing, cultivation support services and warehousing on the 31 hectare site. The second phase will see an expansion of the greenhouse footprint to 20,000m2 in total.  
The project follows completion of construction at EuroCan’s first stock-growing site in Lesotho earlier in 2021, where test growing cycles at the 2,800m2 greenhouse and adjoining 800m2 facility (housing production, drying, processing, packing and office space) are already underway.
“EuroCan commencing construction at the Portuguese facility is a major milestone for the ability of Botanical Holdings to deliver a constant supply of medicinal cannabis to the international pharmaceutical and medicinal marketplaces,” said Carl Esprey, CEO, Botanical Holdings. “Demand from the medicinal cannabis sector continues to increase as international regulations in major global markets change. This in turn is also increasing clinical research and approvals for therapeutic development of medicinal cannabis. Upon full commissioning of our facilities in Portugal and Lesotho, we will be able to ensure year-round access to cannabis plants, strains and cannabinoids for those researching medical cannabis and its potential to transform the lives of patients.”
The construction process will follow a detailed timeline, under the oversight of Botanical Holding’s construction and engineering partner, TechnoEdif Engenharia, SA.

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