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LGC Capital Cannabis Partnership Makes Second Payment Under Agreements To Acquire 60% Interest In South Africa's House Of Hemp
LGC Capital Cannabis Partnership Makes Second Payment Under Agreements To Acquire 60% Inte...
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[{"type":"text","content":"\n\n\n\nLGC Capital Cannabis Partnership Makes Second Payment Under Agreements To Acquire 60% Interest In South Africa's House Of Hemp\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL and DURBAN, South Africa, Aug. 1, 2017\n\n\n\nMONTREAL and DURBAN, South Africa, Aug. 1, 2017 /CNW Telbec/ - LGC Capital Ltd. (TSXV: QBA) (\"LGC\" or the \"Company\") is pleased to announce that the second payment has been made by the Company and its JV Partner, AfriAg (Pty) Ltd, to the House of Hemp (Pty) Ltd, under the agreement previously announced on July 18, 2017 to acquire a 60% beneficial interest in the House of Hemp.\n\nThe House of Hemp is South Africa's one-stop authority on all things hemp and cannabis.  Based in Block D of the Dube TradePort's Agrizone Complex at Durban's King Shaka International Airport, which features 40,000 m2 of secure, temperature-regulated and humidity-controlled greenhouse under glass, with refrigerated pack houses, laboratories and offices. This complex regarded as the most eco-friendly and high-tech agricultural facility in Africa and is where House of Hemp is planning to ramp up Research & Development of high-CBD medicinal grade cannabis. \n\nAlthough medical cannabis is its newest and largest focus, House of Hemp started as an importer and reseller of hemp products, which remains a key element of its business: hempseed oil, hemp protein powder and de-hulled seeds.\n\nHouse of Hemp is now a member of the National Hemp Foundation (NHF) and has served as the convener of the NHF's Human Resource Development Group (in the first phase). House of Hemp is currently the coordinator of the NHF's Private Sector Working Group.\n\nLicensed in 2010, House of Hemp became the first private company to be awarded an exclusive permit from the Departments of Agriculture and Health to legally cultivate and process hemp in South Africa. Because House of Hemp wanted to reliably expand into the budding industrial market, the company sought an exclusive permit from the D...