Teera Holding Co., Ltd. (formerly Teera Ventures) (“Teera”) is pleased to announce that it has completed it’s acquisition of Golden Triangle Group Co., Ltd. (“GTG”), Thailand’s first certified GACP / CUMCS certified cultivator located in Chiang Rai, Thailand.
Teera is a leading vertically integrated Thai medicinal herb operator with a cultivation facility and tissue culture lab at Kasetsart University cultivating high quality cannabis for Thailand and export. Founded in 2021 by Nadon Chaichareon, Teera is committed to bringing western world manufacturing and cultivation compliance to Thailand ensuring safety and quality are paramount.
Working with Edmond Chiu (QWEST Cannabis/DECIBEL CC) and Benjamin Sze, ex-CEO of QWEST Cannabis/DECIBEL CC, Prohibition Partners (UK) for the 2nd Asian Cannabis Report, along with Kasetsart Agricultural and Agro-Industrial Product Improvement Institute (“KAPI”) at Thailand’s number one agricultural university, Kasetsart University, Teera has assembled a team of experienced operators that will set the standard for cannabis cultivation and retail in Thailand. GTG is a vertically integrated cannabis company with three cultivation sites in Chiang Rai and Bangkok, a partnership with Chiang Rai Rajabhat University, and cultivators of the high CBD strain RAKSA and its derivatives.
The combination of Teera’s shareholders experience will allow for the ability to navigate Thailand’s nascent cannabis regulatory framework having already done so in more mature markets such as Canada. Adding GTG’s production assets, especially their GACP/CUMCS compliant cultivation facility in Chiang Rai, Thailand, allows Teera to fast track its mission to be one of Thailand’s fully compliant craft-at-scale cultivators of cannabis products.
“The acquisition of Thailand’s first certified GACP/CUMCS cultivator in GTG allows Teera to springboard our efforts to implement standards of procedure that my partners, Edmond and Benjamin, are accustomed to after founding the successful QWEST brand cannabis in the legal Canadian market. With Thailand’s market being extremely unique in its legislation framework, we hope to sustainably impact on the industry from seed-to-sale through international certification, for the safety of patients and consumers” says Nadon Chaichareon, Founder & CEO of Teera Group Holding.
“Teera has remained resolute in its commitment to measure up to western world standards and ensure we are fully compliant with Thailand’s evolving cannabis policy. This transaction of a GACP/CUMCS compliant facility allows for a quicker path to market while maintaining that commitment. I look forward to supporting Teera as we launch our first retail brand and beyond for international export” says Teera director Benjamin Sze.
The Acquisition is expected to accelerate Teera’s strategy to expand their cultivation capacity to over 700 kgs of dried cannabis flower annually. Teera will have its first crop from the GTG facility available in Thailand’s retail market at the end of Q1, 2024.
