News

Jamaica: Ganja is King-Kronic Relief Eyes US$20m Ganja Haul

Kronic Relief Jamaica is eyeing March to May of next year to begin reaping cannabis at its Crystal Springs farm, which it expects to yield one metric tonne per week.

But CEO Steven Conville says that that is just the starting point. The company, which says it has seven provisional licences approved by Cannabis Licensing Authority ranging from planting to export is entering the ganja market as a raw material supplier but aims to eventually build itself into a vertically integrated medical cannabis operation, spanning research and development, production, and extraction.

The Crystal Springs property is now being readied for planting, a process that includes clearing land to erect a growing facility, fencing of the property, and mounting cameras as a security measure against praedial thieves.

“We’re doing a hybrid greenhouse structure, and we’ll be able to crank out 50 metric tonnes of cannabis every year, but it will be of a higher quality,” said Conville of the US$20 million investment being made in the project.

The hybrid greenhouses will use light enhancement, LEDs, that come on at dusk, go off at night, back on at early morning, and complementing natural light in overcast conditions.

Kronic Relief projects that the annual 50 metric tonnes of cannabis it produces will generate revenue of US$20 million, according to the CEO. This covers ‘flower only’. Any revenues from further processing would be additional, but no estimate has been done, he said.

Sales will be targeted at Canada, at least in the first instance, since that country will be legalising cannabis for recreational use come October 2018.

More

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s