Colombia Cannabis Market “Economic Impact Assessment”

BOGOTA, Colombia – CannabCo Pharmaceutical Corp. Colombia S.A.S. (CannabCo Colombia), a Colombia based cannabis cultivator and manufacturer of medical cannabis products, is pleased to announce the completion of an Economic Impact Assessment for its operations based in Colombia.

Working with its partners in Colombia, CannabCo has compiled an economic assessment report related to their operations in Colombia. The report outlines CannabCo’s 5 major projects in relation to their economic impact on each region of operation. Three of the operations are in the Cundinamarca region approximately one hour outside Bogota, the country’s capital, while the remaining two projects are located in the Meta region in the area around Villavicensio.

Colombia has made a significant commitment to the cannabis industry and industry experts are looking at the country as the hotspot for cannabis production moving forward. “The commitment by all levels of government will provide a much needed economic boost in light of global setbacks from the recent COVID-19 pandemic”. Said Phillip Chen, the company’s Chief Business Development Officer. “We are currently working closely with all key levels of Colombia’s government to provide the much needed economic stimulation to the economy”.

Colombian agricultural efforts in past years have taken a hit from rising costs of agricultural inputs such as fuel and fertilizer, and further suffered from third world global competition in certain food and flower exports. Focusing on a relatively high value crop in a global emerging market would provide the much needed economic stimulus to the Colombian agricultural sector.

The company is involved with many initiatives in areas involving economic, social, and environmental impact as part of its core mandates in Colombia. In the areas of job creation alone CannabCo estimates the creation of 1500 jobs over a 5 year period associated with its current 5 projects, and over double that number when accounting for ancillary work associated with the initiatives. “Estimates from maturing cannabis markets in North America provide a fairly accurate economical and employment model which can be superimposed on the emerging Colombia cannabis industry” says CannabCo’s management. “Impacted areas such as pharmaceutical, distribution, logistical support, transport, agricultural supply chain, and packaging are just a few of the industries surrounding the growth of cannabis in Colombia”.

The company further participates in community outreach programs in each of its operating regions including educational and social programs designed to train workers in agricultural practices and cannabis-centric skilled employment positions.

Recently the company announced the pending installation of one of South America’s most advanced extraction lines as part of its processing operation outside Bogota. CannabCo is feels this will help Colombia’s efforts in becoming a world leader in Cannabis supply and further stimulate the economy.

Forward Looking Statements
This press release may contain certain “forward-looking information” and “forward-looking statements” within the meaning of applicable securities legislation. All information contained herein that is not historical in nature may constitute forward-looking information. Forward-looking statements may be identified by  statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. Actual results and developments may differ materially from those contemplated by these statements. Although CannabCo Colombia believes that the expectations reflected in forward-looking statements in this press release are reasonable, there can be no assurance that such statements will prove to be accurate. Future events and results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements in this press release.

(This information is primarily sourced from CannabCo Pharmaceutical Corp. Colombia S.A.S.  Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).