Lesotho, a landlocked country located within the borders of South Africa, was the first African country to regulate the cultivation and production of medical marijuana products.
Under the agreement, Verve will supply Nuuvera, an internationally focused cannabis company, with 3,000 kilograms (6,600 pounds) of purified THC and CBD extract per year.
Financial terms of the transaction were not disclosed.
Antonio Costanzo, head of international development with Nuuvera, told Marijuana Business Daily the product will be available for local medical needs and export.
Costanzo said Lesotho has a climate that’s ideal for cannabis production, a skilled and accessible workforce and “sound legislation.”
In 2017, Verve claimed to be the first company on the continent to receive federal approval for the cultivation, processing and sale of medical cannabis.
Nuuvera was recently purchased by Aphria, a license producer based in Leamington, Ontario.
Matt Lamers can be reached at [email protected]
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