Canadian cannabis firm Pure Global has signed a deal to produce hemp and related products in China.
The company has announced an agreement with KMT-Hansa to process, extract, cultivate and manufacture across approximately 17,000 acres of land in the province of Yunnan through its subsidiary PureSinse.
Pure Global will be the management and development partner in connection with the project, with KMT providing resources and personnel.
Pure Global will be responsible for the technology, know-how, genetics and sales and distribution of hemp products.
KMT will be responsible for securing and maintaining all necessary permits and licenses with the Chinese Government to grow, extract, process, and export CBD and hemp by-products.
Pure Global’s CEO Malay Panchal said: “We are extremely excited to be the first Canadian LP to partner with a Chinese group seeking to develop a project of this scale in China.
“This strategic relationship gives us access to KMT’s resources and connections in China. They truly share our goal of providing high-quality products that are sustainable to the environment and developed using cutting-edge agricultural methods.
“We are extremely happy to enter into this agreement with a trusted partner who shares our values, visions, and long-term goals.”
“We are entering a very exciting chapter in Pure Global’s journey”Pure Global CEO Malay Panchal
He added: “I was especially thrilled by the warm welcome we received from the Chinese local, state, and federal authorities on our recent visit and the tremendous support they are willing to offer to make this project a success for all stakeholders.”
A press release states the companies intend to move quickly to commence operations and service the fast-growing consumer demand for CBD isolate and finished products throughout Asia and over 50 international markets that have legalised CBD.
Mr Panchal added: “We are entering a very exciting chapter in Pure Global’s journey.
“In addition to this joint venture with KMT, we have recently been granted our Health Canada oils sales license, are close to approvals to commence scaled cultivation and extraction at our Brampton facility, will soon be launching several new premium consumer brands, and have other formative developments to be announced in the near future.
“Together these will accelerate Pure to becoming a global leader in the cannabis sector.”