Jacana Completes First Ever Global Export of Jamaican Cannabis

Friday, March 1, 2019 Drug News
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Female founded company raises $20m to build a pioneering global medical cannabis business

LONDON, March 1, 2019 /PRNewswire/ -- Jacana today announces the launch of a new kind of medical company that

harnesses the power of nature to produce certified medical cannabis, providing natural relief for chronic pain and suffering.

Chronic pain affects 1.5 billion people worldwide, with more than 100 million people suffering in the US alone.1

Jacana has completed the first-ever international export of Jamaican medical cannabis flower, securing multiple international licenses and permits to date. The deal also saw Jacana play a central role in shaping the international regulatory process.

The historic export is linked to the company raising an initial $20 million to cultivate, develop and distribute certified medical cannabis solutions that provide natural alternatives to the artificially manufactured products in the market. 

The investment will fuel international expansion and build on Jacana's existing presence in Europe, North America and the Caribbean. 

The launch of Jacana coincides with: 

  • A rapidly expanding legal cannabis market, with the UK, Germany, Thailand and Mexico amongst the 25 countries to legalise medical cannabis in the past 12 months, taking the global total to 48 countries
  • A growing backlash against artificial pharmaceutical products, and increased appetite for natural, organic solutions
  • The emergence of the medical cannabis industry (predicted to be worth $100 billion by 20252) and a significant global supply shortage in certified medical cannabis 

With a global team located in Jamaica, Canada and the UK, Jacana is the world leader in the outdoor cultivation and distribution of medical cannabis. This is currently being naturally grown at Jacana's flagship 4.4 million square foot (100 acre) farm in St Ann, Jamaica, where the unique microclimate and latitude create the perfect conditions for cultivation.

The business is founded by Alexandra Chong, the Jamaican serial entrepreneur best known for establishing Lulu – the innovative, fast-growth social and dating intelligence app with more than 6 million users and was sold in 2016.

The leadership team that will drive Jacana's global growth carries experience from a range of industries, with the Board including the former CMO of Microsoft, Mich Mathews-Spradlin; world-renowned Silicon Valley venture capitalist and early backer of Twitter and Zoom, Bill Tai; and former CCO and Executive Board Member of the Coca-Cola Company, Robert Leechman

Alexandra Chong, CEO of Jacana, said:

"Whether caused by illness or injury, chronic pain is a problem that affects the global population. People are looking for safe, natural solutions, and care more about what they're putting in their bodies than ever before.

"We believe that nature has the best answers. Jacana's mission is to provide natural medicine that people can trust, enabling them to live full and meaningful lives by improving their wellbeing, their health, and their happiness.

"I am incredibly impressed with how hard the Jamaican government and in particular the Cannabis Licensing Authority (CLA) has worked to establish best-in-class regulations and governance that enables Jamaica to be at the forefront of this rapidly expanding global industry." 

Hon. Audley Shaw, Minister of Industry, Commerce, Agriculture and Fisheries, said:

"Jamaica is proud to be emerging as a leader in one of the fastest growing global industries alongside trailblazing G7 nations like Canada and Germany.

"Our country will play a crucial role in addressing the global demand for medical cannabis, placing our nation at the forefront of the effort to increase patient access to medical cannabis and its many benefits.

"It is wonderful to see Jamaican businesses such as Jacana drive research and innovation, create jobs across the island, and bring international investment that will fuel the growth and development of our economy."

About Jacana

Founded in 2017, Jacana is a pioneering global medical cannabis company, harnessing the power of nature to transform lives. Having grown up in Jamaica, its founders saw first-hand how natural medicine could be used to ease pain and suffering, and wanted to help bring this age-old, natural remedy to the rest of the world.

From plant to patient, Jacana is dedicated to producing one of the world's most natural products, sun- grown in harmony with nature, empowering not just those who use it but also those who grow it. Jacana cultivates, manufactures and distributes certified medical cannabis flower internationally. In a historic move, it was the first company to export Jamaican medical cannabis flower internationally and has secured multiple international permits and licenses to date. 

By spearheading the world's fastest growing industry, Jacana is transforming what was once an unregulated market, into a powerful solution for patients around the world. Using the highest quality, outdoor-grown cannabis – Jacana is bringing its therapeutic properties to people in need with certified medical cannabis – all with a strong focus on provenance, sustainability and R&D.

A global company with teams in Europe, North America and the Caribbean, Jacana is the world leader in the outdoor cultivation of certified medical cannabis. This is currently being naturally grown at Jacana's flagship 4.4 million square foot farm in St Ann, Jamaica. Its unique microclimate and latitude create perfect conditions for the plants, which are watered by the natural source of the White River that runs through the farm. 

Notes to Editors 

1 https://vitalmei.com/chronic-pain-statistics/2 https://www.grandviewresearch.com/press-release/global-legal-marijuana-market

Press contactSeven HillsMatic Boh+44(0)20-7199-6180+44(0)7746-346-084 matic.boh@wearesevenhills.com

 

Cision View original content:http://www.prnewswire.com/news-releases/jacana-completes-first-ever-global-export-of-jamaican-cannabis-300804905.html

SOURCE Jacana



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