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Brazilian-Uruguayan startup wants to be the first to be valued at US$ 1 billion on the Canadian stock market

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The Brazilian-Uruguayan startup PUCMED (Productora Uruguaya de Cannabis Medicinal) is preparing to be the first in the country to go public on the stock exchange. Headquartered in Curitiba-PR, the company founded in 2019, should go public on the Toronto stock exchange, in Canada and there is still the possibility of going public on the B3 stock exchange, headquartered in São Paulo. 

According to the business strategy, PUCMED wants to become the first unicorn of the cannabis industry in Latin America. This means that the partners intend to make it the first startup in the sector valued at more than US$ 1 billion. 

Production is concentrated in Uruguay. The total area is 15 hectares. The climate-controlled greenhouses occupy a space of 11,000 m², with semi-hydroponics production, another 10,000 m² are reserved for open cultivation, in this area there are only products authorized by the European Union. 

According to founder Dr. Afonso Cardozo Ferretjans, production capacity is 2 million bottles and cannabis-based products. 

More than 7,000 patients are seen monthly through partnerships with associations and individual imports. 

After the expansion of the laboratory plant in the Free Zone of Florida, Uruguay, the startup should close 2023 with the capacity to serve more than 22,000 people monthly. 

PUCMED’s expected revenue for the next three years is approximately US$ 90 million. The progression should be US$ 13 million in 2023, US$ 28 million in 2024 and US$ 42 million in 2025

Cannabis: The Billionaire Potential

According to data from the Associação Brasileira das Indústrias de Cannabis (Abicann), the medical cannabis market could reach US$ 30 billion a year in Brazil from 2030. About 10% of the Brazilian population, that is, 18 million people, could treat disease symptoms with plant derivatives. 

According to Kaya Mind, medical cannabis can move BRL 9.5 billion after the fourth year of legalization. For the data company, the medicinal properties of the plant can benefit 40% of the population, which corresponds to 78 million Brazilians.



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Big news! Our payment solution has a new name: IndicaPay 

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Big news! Our payment solution has a new name: IndicaPay is here to revolutionize your dispensary’s transactions.

Enjoy the benefits of cashless payments with IndicaPay:

  • Debit Card Payments: Say goodbye to cash-only sales. Welcome more customers with the convenience of card payments.
  • Boost Sales: Users see up to a 30% increase in cart size. More payment options mean more opportunities for upselling.
  • Quicker Checkouts: Speed up transactions by 20%, improving customer experience.
  • Enhanced Security: Less cash on-hand means reduced theft risks.
  • Extra Tips: Sales get rounded-up to the nearest $5 meaning happier staff with more tips.



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Pampa Hemp Introduces First Medical Cannabis Seed Developed and Produced in Argentina

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Argentina has been developing its cannabis production chain in recent years, promoting medical and scientific research on the medicinal use of the plant and its derivatives, as well as its industrial use. Pampa Hemp has recently been able to develop and produce the first medical cannabis seed in Argentina. The news will benefit the whole cannabis industry in the country.

Pampa Hemp, an Argentinean SME dedicated to the research, development, and production of cannabis for medicinal purposes, announces a historic achievement in the country with the approval of its first native cannabis seed variety, PH LOBERA, by the National Seed Institute (INASE).

Read more about Pampa Hemp and find the latest cannabis news with the Hemp.im mobile app.

This scientific breakthrough achieved by Pampa Hemp is important for the entire cannabis industry, as it eliminates the need to import seeds

After more than several years of research and development work, this new seed variety has been approved and is now part of Argentina’s National Cultivar Registry. Authorized local producers and people registered in the Reprocann (National Registry of Patients in Treatment with Cannabis) can now acquire the seed and obtain better results thanks to its ability to better adapt to the climatic conditions of the region. In addition, this scientific breakthrough is important for the entire cannabis industry, as it eliminates the need to import seeds.

“Our goal was to create a variety that has excellent adaptation to the soil, climate, and resistance to the pests that exist in the Province of Buenos Aires for outdoor cannabis crops. It also has a high concentration of THC and CBG, the latter a cannabinoid that is not so easy to find and is being increasingly observed for the therapeutic benefits it offers as an anti-inflammatory and pain reliever. We are currently working on genotyping tasks and molecular markers that will allow us to continue with the photo-improvement work,” explained Sebastian Tedesco, Technical Director and Co-Founder of Pampa Hemp.

This development began as an idea in 2017, with different tests being carried out by Pampa Hemp in a field in Lobos with various seed varieties to find the one that would best adapt to the soil and coexist better with native plant species. This process was the kick that led to the creation of a new strain that is now available on the market.

The registration of PH LOBERA in the registry is one more step towards the consolidation of the cannabis sector in Argentina, which seeks to promote medical and scientific research, as well as the industrial development of the crop. The official recognition of this strain will contribute to the growth of the cannabis production chain and to the strengthening of Argentina’s position in the global market of hemp and cannabis products.



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Heritage Cannabis Receives First Purchase Order and Is Set to Begin Shipments of CBD Products to Brazil

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TORONTO–(BUSINESS WIRE)–Heritage Cannabis Holdings Corp. (CSE: CANN) (OTCQX: HERTF) (“Heritage” or the “Company”), is pleased to announce that it has received a purchase order from a Brazilian pharmaceutical CBD product importation and distribution company, to supply finished CBD products for wholesale distribution that have already received approval for sale in Brazil. These products are among the first products of their kind to be approved by the Brazil Health Authority (ANVISA) and will ship upon approval by Health Canada.

“This is just a starting point for Heritage in Brazil as we are in the process of establishing a long-term supply agreement for CBD products which will also include access to our entire THC product portfolio once medical use cannabis becomes fully legalized in Brazil.”

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In 2021, Health Canada granted Heritage with a license to export cannabis products from Canada to Brazil. This will mark the first full shipment of products following the prior successful shipment to Brazil made by Heritage for the testing phase with ANVISA.

“We are very pleased to be in a position to expand our products and brands on a global scale, and to be working with a well recognized partner and their large distribution network in Brazil,” said David Schwede, CEO of Heritage. “This is just a starting point for Heritage in Brazil as we are in the process of establishing a long-term supply agreement for CBD products which will also include access to our entire THC product portfolio once medical use cannabis becomes fully legalized in Brazil.”

About Heritage Cannabis Holdings Corp.

Heritage Cannabis is a leading cannabis company offering innovative products to both the medical and recreational legal cannabis markets in Canada and the U.S., operating under two licensed manufacturing facilities in Canada. The company has an extensive portfolio of high-quality cannabis products under the brands Purefarma, Pura Vida, RAD, Premium 5, Thrifty, feelgood., the CB4 suite of medical products in Canada and ArthroCBD in the U.S.

ON BEHALF OF THE BOARD OF DIRECTORS OF HERITAGE CANNABIS HOLDINGS CORP.

“David Schwede”
David Schwede, CEO

The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release.



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