SOL Global Investments Corp (OTCMKTS:SOLCF) plans to improve its share of the global legal cannabis industry may be crystallizing. The company is already executing a strategic plan that involves acquiring and partnering with key market players to establish a leading position in the highly competitive industry.
Acquisition of 3 Boys Farms
To begin with, SOL Global Investments Corp recently finalized the acquisition Ontario-based CannCure Investments- the company that wholly owns 3 Boys Farm. 3 Boys Farm is authorized by the state of Florida to farm, process, and distribute medical cannabis. The company’s assets now transferred to SOL Global Investment include an operational greenhouse covering 40,000 square ft, a 2-acre odor management space with state-of-art facilities and an award-winning alternative energy use, innovative cooling designs for its greenhouse and rainwater harvesting.
In addition, 3 Boys farms has begun operations at its GMP-certified Farm and lab in Indiatown. The facility boosts cannabis cultivation and processing space of 64,000 square ft alongside a 50,000 square ft space with greenhouses. Cultivation in the facility will commence in the Q3 2019.
Acquisition of Hemp farms
Moving on, SOL Global has acquired a total of 568 acres of hemp lands to be used in biomass production. The company inked a letter of intent to acquire the properties which it will assign to its subsidiary, Heavenly RX. The agricultural land will be managed by Bluhen Botanical, Heavenly RX’s affiliate specializing in hemp biomass processing.
With the newly acquired lands, heavenly RX will be able to satisfy future national and international orders with its own production. This is a step to the right direction towards becoming an acclaimed vertically-integrated company in the cannabis industry. The agreement further stipulated favorable contract farming terms in both Tennessee and Kentucky.
Footprints in Europe
Besides the local cannabis market, SOL is also eyeing international cannabis industries with particular focus in the European legal cannabis market. Through its European affiliate, the European Cannabis Holdings (ECH), SOL is making notable strides in Europe. ECH recently imported the largest medical cannabis shipment in the UK. The company is also planning to open a chain of dispensaries across multiple prospective locations in the UK. SOL’s plan to acquire a larger share the market is unfolding.