CROP Infrastructure (CNSX:CROP) told investors it had hired the former CEO of the Jamaica cannabis licensing authority as a new member of its executive advisory board as it develops the business in the Caribbean island.
Greg Douglas formally entered the cannabis space in 2015 when he joined the Bureau of Standards Jamaica as its management information systems (MIS) manager.
"Ganja man"
He is now known internally at the Bureau as the "ganja man" and externally by stakeholders as the "Bureau man", noted Crop.
In 2017, he was seconded to the Cannabis Licensing Authority (CLA) as its chief executive. While there he became a part of history, issuing the first commercial licences, the company added.
"Greg has the invaluable ability to effectively interact with stakeholders from both the private and public sectors and his knowledge of the industry, both in the Caribbean and North America, is truly extensive and that will be of great benefit to Crop as it expands even further internationally," said Crop's chief executive Michael Yorke.
In July this year, the firm struck a joint venture deal in Jamaica, with a 49% interest in a zero-cost lease of a 217,000 sq ft property (five acres), ideally positioned for future Cannabis production and extraction.
The land was secured in the Westmoreland Parish, some of the most fertile land in Jamaica, it said.
Broad variety
"Many countries are now introducing new licensing and legislative regimes for CBD and cannabis and are prime entry points for our growing organisation," said Yorke last month.
"Jamaica is of particular interest as its licensing regime allows for a full suite of genetics which will give our tenant growers the advantage of being able to provide buyers with a broad variety of CBD and THC end products."
Jamaica has over 2.8mln residents and around 3mln visitors each year. In a report from the Jamaica Observer, Edmund Bartlett, the current Jamaican minister of tourism, estimated the global marijuana tourism market stood at US$494bn.
CROP is now trying to identify a suitable tenant licensee for the project and plans to license the brand, ‘Hempire Jamaica’ to the tenant and has acquired the domain www.HempireJamaica.com.