Jamaican company Medicanja has received a major boost with an investment of US$15 million from major US investor Noble Capital Fund and leading international management consultant Dr Trevor Hamilton.
“The US$15 million in Medicanja will create over 200 jobs in the short term and…will deliver over US$10 million in annual exports.
It has signed a manufacturing agreement with Rapha Health Network for FDA-approved manufacturing in the US and a distributor engagement with Zimmer and Co for the Caribbean.
“Some Caricom countries have taken positive steps in exploring the uses of cannabis, and we are prepared to support others.
“While people are being understandably cautious, we are developing a strong and robust cannabis industry not only for investors, but also for the small man who has utilised and grown it for years, including the Rastafarians, who use it in their sacraments.
Noble Capital Fund managing partner Sylvester Gbewonyo Jr said he was excited about the investment, as it continued to grow the fund’s presence in Jamaica.
In my work as a consultant, I’ve seen many clients, whether corporations, governments, or individuals, who have run into problems because of what I call P.O.O.R.