Marijuana Business Magazine September 2019

Marijuana Business Magazine | September 2019 76 Bophelo Bioscience and Wellness LINE OF BUSINESS Develops medical cannabis and CBD subsidiary businesses involved in production, testing and compliance, research and development including pharmacology, and commercialization of products HEADQUARTERS London WHY TO WATCH The United Kingdom legalized medical cannabis for patients with a physician’s prescription last November. London is a global financial capital, and the London-based Sativa Group is trying to exploit this landscape to become a major player in the cannabis industry. Sativa joined London’s NEX Exchange in March 2018 and, since then, has taken a strategy similar to those employed by U.S. multistate players such as Ascend Wellness and iAnthus Holdings, which raise capital and then spend it to develop and own cannabis assets. Can this strategy work overseas? To prime its future, Sativa has so far invested in two Canadian companies, Rapid Dose Therapeutics and Veritas Pharma, which specialize in dosing technology and seed breeding. The company also began importing CBD oil from Swiss and Portuguese partners earlier this year, and in June, it opened the first of three CBD retail outlets. Customers can buy and consume CBD-infused coffees, teas and other beverages at the stores or purchase products to take home. Sativa is also a 60% owner of Sativa Germany GmbH, which is tasked with winning German MMJ wholesale, import and export licenses. Should Sativa’s CBD plays in the United Kingdom and Germany win licenses, Sativa could grow to become one of Europe’s biggest players. Sativa Group LINE OF BUSINESS Cultivation, processing, distribution and export HEADQUARTERS Tsa Kholo, Lesotho WHYTOWATCH The first African country to legalize cannabis, Lesotho and a few local cannabis producers have garnered interest from big North American marijuana companies such as Canopy Growth and Supreme Cannabis. Among the more interesting local companies is Bophelo Bioscience andWellness, led by Louisa Mojela, one of the most successful businesswomen in Africa. Bophelo recently was acquired by Halo Labs, a Toronto extraction and infused product company that lists on Canada’s NEO exchange. Halo operates in California, Nevada and Oregon. In June, Halo appointed Mojela as chair of its board of directors. Mojela is a veteran financial and operational veteran with the chops to make Bophelo a powerful force in global cannabis. She has led capital raises and held directorships at numerous companies, including South African Airways and Ericsson. Mojela also was a project leader for the Development Bank of Southern Africa, project officer with the Lesotho National Development Corp. and manager of emerging markets for the Standard Merchant Bank. Bophelo’s license allows it to cultivate 5 hectares (about 12.5 acres). Once cultivation and extraction facilities are in operation, Bophelo expects annual production of about 4.6 million grams (10,141 pounds) of cannabis concentrate, which it will export to other African countries and Europe. With a successful local such as Mojela at the helm and backing from Halo Labs, Bophelo could have tiny Lesotho punching above its weight in the cannabis industry. Growing Momentum