Blueberries Medical Corp (OTCMKTS:BBRRF) has announced that Blueberries SAS, its wholly-owned subsidiary, has signed a partnership agreement with Medicanmentos de cannabis SAS (medcann). The partnership is for the development and production of tetrahydrocannabinol (THC) extracts from cannabis for the international market.
Blueberries collaborate with medcann
According to the terms of the deal, Blueberries and Medicananmentos will develop an R&D project for the production of commercial THC extracts. Blueberries will employ its extraction capabilities in processing THC dominant marijuana flowers that Medicanmentos cultivates. Medcann was the only and first company to receive a registration for psychoactive cannabis strains in 2018 in Columbia. The companies will collaborate in the manufacture and commercialization of THC and leverage the THC commercial quotas that will be assigned to Blueberries.
In the first quarter of this year, Blueberries commissioned the first extraction line at the ultramodern 2,800 m2 extraction facility situated in the modern industrial park outside Bogota. Already the extraction line has started working with the commissioned equipment having enough processing capacity for biomass from its cultivations as well as for contract growe3rs and licensed producers like medcann.
Blueberries CEO Camilo Villalba indicated that they were delighted to partner with medcann and are optimistic about delivering the best through the collaboration. Camilo added that they have just started, and they will continue developing THC extracts based on novel genetics from medcann.
Blueberries commence the sale of its cultivars in Bogota Savannah
Recently Blueberries announced that it had officially commenced sales of its novel cultivars that the Colombian Institute of Agriculture has approved. The company has already signed several sales agreements to supply its proprietary genetics to various producers in Bogota. Under the agreement, Blueberries will leverage contract growers for production fo its ICA approved non-psychoactive CBD varieties. The company’s agronomic team developed and tested the cultivars for cultivation in the local climate.
The company will process biomass from contract growers at its extraction facility as per the arrangements. Under the agreement, the company will retain a certain proportion of the extract for resale as a form of compensation for services.