- Xebra Brands (XBRA) Mexican subsidiary, Desart MX, SA de CV (Xebra Mexico), has received corporate cannabis authorizations in Mexico
- The authorization, granted by the Mexican Health Regulatory Agency, gives Xebra Mexico an outright first-mover-advantage
- The authorizations will initially apply specifically to the commercialization of cannabis products with low levels of THC (under 1 per cent)
- Xebra Brands is an international cannabis cultivation and product company with global brands and intellectual property
- Xebra Brands Ltd (XBRA) opened trading at C$0.075 per share
Xebra Brands (XBRA) Mexican subsidiary, Desart MX, SA de CV (Xebra Mexico), has received corporate cannabis authorizations in Mexico.
The authorization, granted by the Mexican Health Regulatory Agency, gives Xebra Mexico an outright first-mover advantage.
The authorization allows the company to import and acquire cannabis seeds, cultivate and harvest cannabis, process and produce cannabis, and sell cannabis products both domestically and through export.
The authorizations include standard conditions concerning safety protocols and security measures. It includes phyto-sanitation processes, pest management procedures, and customary inspection and reporting provisions. The authorizations are subject to Xebra satisfying the industry standard conditions.
The company reported that there are no restrictions on where in Mexico, Xebra can cultivate cannabis. Also, there are no restrictions on the size of the cultivation facilities nor on the volume of processing and manufacturing operations. The authorizations will initially apply specifically to the commercialization of cannabis products with low levels of THC (under 1 per cent).
Jay Garnett, CEO of Xebra Brands, commented on the news.
“This represents an important moment for cannabis globally with the first-ever grant for full cultivation, harvesting, processing and commercial activities to a corporate entity in Mexico. This grant follows years of hard work and focus by a devoted team. This is only the beginning of what Xebra has laid as the foundation for growth.”
“Xebra will take a methodical approach to assessing all opportunities for partnership and growth. We recognize the historical importance and commercial opportunity of being granted these authorizations by the Mexican Government as a first mover company.”
The company expects to provide an update on its plans for the Mexican cannabis market in the coming weeks.
Xebra Brands is an international cannabis cultivation and product company with global brands and intellectual property. Its products range from wellness to leisure and include beverages.
Xebra Brands Ltd (XBRA) opened trading at C$0.075 per share.