africaupdates.com: News: ASIF420 Announces Final Construction Phase of Medical Cannabis Cultivation Center in Lesotho

NEWS PROVIDED BY

ASIF420
May 24, 2021, 01:45 PDT

ASIF420 Cannabis Ventures is pleased to announce that its subsidiary WeGROW Lesotho has entered into the final construction phase of its 17,000 sqm medical grade cannabis cultivation facility in Lesotho, South Africa.

BERLIN, May 24, 2021 /PRNewswire/ -- ASIF420 Ltd. ("ASIF420" or the "Company"), announced it's in the final stages of constructing the biggest (17,000 sqm) and most modern (powered by Israeli agro-tech innovation) cultivation center in Lesotho: 'WeGROW Lesotho', which is fully built to comply with EU's good manufacturing practice standards (GMP), which will allow the company to export medical grade cannabis flower, oil and extracts as an active pharmaceutical ingredient to European markets by the end of this year.

The medical cannabis market in Germany is estimated to be a $4B Euros market size (as of 2020) and WeGROW is uniquely positioned to capitalize by cultivating high quality strains at affordable prices for European patients as early as the end of 2021.

Located 1,600m above sea level in the mountain region just outside the capital Maseru, WeGROW currently employs over 100 people on its 17,000 sqm cultivation facility in a unique hybrid greenhouse environment, but it has plans to increase its workforce to over 500 by 2025.

Mr. Tal Arbeli, CEO of ASIF420 stated: "As an international licensed cultivator and exporting manufacturer of medical grade cannabis products, WeGROW has built a state-of-the-art medical cannabis factory that will provide hope to hundreds of thousands of patients around the globe. we have great confidence that due to its patient-oriented vision focused on high quality products in an affordable price 'WeGROW Lesotho' is on the path to become a leader in the emerging global medical cannabis industry"

About WeGROW:

WeGROW is a promising, vertically-integrated cannabis company that cultivates, extracts, manufactures, and distributes quality cannabis flower, oils, and concentrates. Halo continues to evolve its business and scale efficiently, partnering with trustworthy leaders in the industry, who value the Company's operational expertise in bringing top-tier products at the most competitive prices. Current growth includes expansion in key EU markets, the United Kingdom and Middle East, with planned expansion into the German retail market.

WeGROW is led by a strong, diverse, and innovative management team with deep industry knowledge and proven track record with cannabis experience.

WeGROW operates in accordance with strict GAP, GACP and EU-GMP Principles for cultivation, extraction and the processing of cannabis for the medicinal and pharmaceutical markets.

About the Facility:

WeGROW has both its cultivation and state-of-the-art processing facilities based 1,600 meters above sea-level in the mountains of Lesotho, where clean air and pristine environment ensure the growth of high-quality plants.

The greenhouse is built to harness the power of the sun and improve the quality of the cannabis flower. The unique greenhouse design utilizes the power of the sun to increase terpenes and resin development throughout the life cycle of the plant. This unique growing technique, paired with innovative processing techniques, allows for a finely cured and polished product that consumers across Canada enjoy.

Overview

Capacity

Scaled Facility

Total of 60,000 sqm. facility

Stage A – Cultivation

17,000 sqm. of cultivation space – Expected end of 2021

Stage B – Cultivation

30,000 sqm. of cultivation space – Expected end of 2023

Hybrid Facility

Indoor sealed cultivation with greenhouse roof

Advanced Processing

Proprietary whole-plant dry and hand-trim finish