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Organto Granted License to Cultivate High-CBD Cannabis Crops in Colombia
Organto Granted License to Cultivate High-CBD Cannabis Crops in Colombia Canada Ne...
About this update from Organto Foods, Inc.
[{"type":"text","content":"\n\n\n\nOrganto Granted License to Cultivate High-CBD Cannabis Crops in Colombia\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\nVANCOUVER, Jan. 16, 2019\n\n\n\nVANCOUVER, Jan. 16, 2019 /CNW/ - Organto Foods Inc. (TSX-V: OGO, OTC: OGOFF) ('Organto\").  Organto today announced that the Organto Global Cannabis Group, through its wholly-owned subsidiary, Medicannabis S.A.S., has been granted a license from Colombia's Ministry of Justice to cultivate non-psychoactive cannabis (CBD) at its cultivation and breeding facility in Guasca, Cundinamarca, Colombia.  The license authorizes the cultivation of non-psychoactive cannabis in Colombia for medicinal use and further processing into cannabis products, including but not limited to, oils, tinctures, beverages, topicals and other products. It also allows for grain and seed production and for scientific purposes.\n\"We are thrilled to receive this license as was anticipated, and as a result we now have the ability to advance the breeding and seed production of high-CBD cannabis cultivars adapted for equatorial climates.\" commented Todd Dalotto, President of the Organto Global Cannabis Group.  \"The granting of this license is a key first step as we establish our low-cost, ecologically designed growing and processing facilities and build out our commercial operations using cultivars developed from our diverse seed library.\"\nOrganto acquired 100% of Medicannabis, a late stage applicant for licenses to enable it to cultivate and process medicinal cannabis in Colombia, in November 2018.  The acquisition was part of Organto's strategy to build out a global cannabis group using cost-effective M&A strategies.  The acquisition of a late stage applicant came with certain uncertainties and risks, many of which have now been mitigated with the grant of this license, supporting Organto's cost-effective approach to the transaction.    \nPLANS FOR 2019The Organto Global Cannabis Group has applied for three other license types and cultivar registrations in Colombia, and these...