Undoubtedly the United Kingdom is on the radar after grating the second single license to grow pharmaceutical grade cannabis for profit after waiting two decades for the first permit to be issued. This is Northern Leaf, who was licensed to grow cannabis for medical use by the Jersey government under the rules of the UK Home Office.
After this event, Northern Leaf intends to supply drug manufacturers in the UK, Denmark, Germany, Spain and Portugal by the end of this year. “Demand is increasing worldwide and the market is currently not supplied,” Northern Leaf CEO Campbell Dunlop told the Financial Times. However, Northern Leaf, which was founded two years ago, was granted permission last December to grow cannabis commercially, while UK-based US drug company GW Pharmaceuticals was the first to receive permission in 1998.
The United Kingdom is between the many countries that have legalized the use of cannabis- based medicines to calm the pain of diseases like cancer or epilepsy. In this sense, according to Dunlop, he commented that he hopes that the first shipment of cannabis of Northern Leaf will be at least half a ton. “The license refers to a site that has a maximum capacity of 400,000 square feet,” he added.
Following, it is a secret to no one that North America leads the market of investment in the industry of cannabis, also the interest in the European continent is increased every day, therefore the task is to raise 200 million dollars for a cannabis fund.
In this regard, Northern Leaf said it has spent up to £12.5 million on the refurbishment of real estate and is hoping to achieve another £6 million investment this new year. Another of its plans is to double the workforce from 35 employees, which would be incredible for the population.
Mr. Dunlop added, “There is a wide variation in price depending on the content of THC and CBD. “It’s not an exact science, it’s agriculture and it can vary in terms of quality,”.