CannAmerica Brands Corp., Canada, announced plans to create a joint venture with Sericea Labs S.A. de C.V., Mexico, and CBDistribution Co. Ltd. (CBDC) to build a facility in Mexico for importing and warehousing licensed CBD products as well as CBD oils and tinctures destined for refining.
SERICEA and CBDC also plan to acquire, import and cultivate industrial hemp biomass for extraction into CBD isolate to be used for multiple product lines utilizing CBD.
"We are very pleased to enter the Latin American region with our partners in Mexico. This marks an exciting step for our brand's expansion in the international CBD marketplace," says Dan Anglin, co-founder and CEO of CannAmerica. "Coupled with our partnership in Europe, global distribution of CannAmerica products is our key focus in 2019."
"SERICEA Labs welcomes the opportunity to enter into this LOI that will help pave the way for CannAmerica CBD-licensed products to enter into the emerging Mexican cannabis market, with the same quality and processing standards expected by their customers," the board of directors of SERICEA Labs S.A. de C.V. said in an authorized statement.