Canadian firm strikes deal to cultivate MJ in southern Africa

What’s the right revenue per square foot? What’s a realistic business outlook for cultivators? Get realistic market forecasts, state-by-state insights and benchmarks. Get the 2023 Factbook.

Canadian marijuana companies continue to expand their reach beyond their nation’s borders.

LGC Capital, a Canadian investment firm, has partnered with AfriAg to cultivate and distribute medical and recreational marijuana across the southern region of Africa, according to a news release.

The long-range goal for LGC – which lists as QBA on the TSX Venture Exchange – is to become the “first Canadian publicly traded company to be licensed to grow and export recreational and medical cannabis on a global basis,” CEO John McMullen said in the release.

AfriAg, one of the largest produce growers in southern Africa, owns and oversees several agriculture facilities – including greenhouses – throughout the region.

Canadian marijuana companies have been aggressively looking to expand their global reach. A Canadian company recently exported cannabis oil to Australia, another plans to export to New Zealand and Chile while others are exploring European markets.