Cannabis Growth Opportunity Corp (OTCMKTS:CWWBF) through its private holding has made an investment of $100,000 for 800,000 shares in MKK Canada Corporation (Balcanns). Balcanns is a promising Cannabis supplier strategically located in North Macedonia. CGOC made the funding with the hope that its new investment will take a chunk of the European Cannabis market forecasted to hit well over $63 billion upon maturity.
Balcanns’ North Macedonia positioning presents a number of competitive advantages including friendly taxation, logistics advantage especially because the facility is located right at the center of the Europe’s main transportation corridors easing supply to the Europe’s key cannabis markets. The company also delights industry-level expertise at competitive rates and optimum climatic conditions for the indoor production of high quality cannabis. Production in the new facility is hoped to commence within a year or so with the licensing process hoped to be finalized in the next 3 to 4 months.
The new facility will be developed in a 54-acre property making it the largest in North Macedonia. The facility will specialize in in the indoor production of industry-grade, GMP Certified top-end cannabis extracts. CGOC President and COO, Jamie Blundell expressed tons of enthusiasm on the investment reiterating on the location advantages Balcanns boosts and the possibility of the investment to expose CGOC to emerging European Cannabis market.
The Balcanns’ investment comes shortly after the company announced another investment of $500,000 in exchange for 1 Million shares of Quebec-based C3 Global Cannabis innovation Center popularly known as C3. C3 specializes in nurturing burgeoning cannabis-based enterprises at their infancy. The company aims at mitigating inherent risks faced by cannabis-based startups in a highly competitive market environment.
Aside from mentorship by industry leaders, innovative companies under C3’s wings have access to capital and get the least friction in terms of cost in their quest to commercialize its craft. In simple terms, C3 through their program accelerates companies’ entry into the market. Blundell expressed confidence in C3’s management team and business strategy and offered his company’s support in its execution.