Polish medical cannabis company Hemp&Health (WSE:HMP) signed an agreement to acquire a 5% stake in the Portuguese company Hibisco Discreto, owner of the Voyager Genetics brand. The purchase price of the shares amounted to €20,000. Hemp&Health has the option to acquire a further 5% of the shares for the same price within 6 months from the date of the transaction.
Voyager Genetics is engaged in the business of researching new genetics, crossbreeding medical cannabis to obtain new varieties, and cooperating with licensed pharmaceutical cultivators to distribute clones to other licensees.
Management of Hemp&Health points out that acquisition of a stake in Voyager Genetics secures sourcing of original medical marijuana varieties, gives the opportunity to conduct research into the genetics and cultivation of medical cannabis, and gives a chance to work on original varieties of medical cannabis during the R&D project.
Voyager Genetics and Hemp&Health plan to ultimately patent new medical cannabis strains, rich in, among other things, market-desired terpenes, and then sell the developed genetics in the form of seeds and clones under its own patented brands – both to business and individual customers.
Voyager Genetics is founded and managed by Christopher Leavitt – a California-based tissue culture scientist, renowned medical cannabis breeder, and experienced entrepreneur.
He co-founded California’s world-renowned tissue culture laboratory and has developed a commercial protocol for propagating medical cannabis, as well as many elite clone lines that have grown millions of plants worldwide. Voyager Genetics already has a portfolio of three original strains that feature, among other things, an original bouquet of terpenes, high yields and resistance to environmental stress.
Hemp&Health is listed on the Warsaw Stock Exchange, operating in complementary areas that lie at the intersection of two sectors: cannabis and health.
The company focuses on establishing and managing a full medical cannabis supply chain: from its own cultivation to the importation, processing and distribution of medical cannabis. Cultivation may be carried by company itself, as well as through a subsidiary and/or investments in external entities. Such companies may be located both in Poland and abroad. Hemp&Health has a subsidiary pharmaceutical wholesaler “THC Pharma” based in Poland.
