Colombia legalizes medical marijuana

Colombia Health Minister Alejandro Gaviria on Thursday announced approval for the manufacture and sale of medical marijuana products, noting that some such products are already legally being sold.

"The decree is about creating the possibility to form an agro-business that sells legal marijuana products, for example ointments, creams and oils," Gaviria said. As he revealed the decree, he cited phytotherapeutic products or herbal medicines as examples of products containing cannabis.

New Colombia Resources Inc., a U.S. company with specialty medical marijuana and hemp assets in Colombia, co-announced the news from Miami. The company’s subsidiary, Sannabis SAS, has been legally producing medicines on the TOEZ Indian reservation for two years, enjoying ideal growing conditions in Norte del Cauca.

"We have been promoting and investing in Colombia's legal medical marijuana products market for some time and believe we will grow significantly once our state-of-the-art laboratory is completed next month,” New Colombia Resources President John Campo said.

Sannabis is securing its market share by working directly with indigenous families, ensuring their ability to organically produce clones of Sannabis strains and guaranteeing the purchase of their crop each quarter. Sannabis manufactures and packages the products directly on the reservation. When construction on laboratory built to INVIMA standards is completed, the facility will be able to process hundreds of pounds of cannabis daily.

“Colombia's administration should be recognized on their forward thinking and courage to right a wrong that has plagued this country for too long. We aim to make 'Made in Colombia' medical marijuana and hemp products the gold standard," Campo said.

In addition to medical marijuana products, New Colombia intends to plant hundreds of hectares of industrial hemp to cost-effectively produce bio-diesel with extractors near production zones.

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New Colombia Resources, Inc.

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