Pan American Fertilizer Corp. GFRCD

JOR vs PFE I pick JOR anytime

[MJindustrywatch]

The Financial Post reports in its Saturday edition Pan American Fertilizer has plans to enter the medical marijuana business in Uruguay. The Post's Barry Critchley, writing in Off the Record, says Pan American has more cash in its jeans than it thought it would have when it embarked on a financing. Last week, the firm closed a private placement not with a planned $500,000 but $775,000. Given that the issuer has issued units, there is a chance the company may end up with almost another $600,000. Randy Wright, chief executive officer, says the new funds raised will allow it "to better define the opportunity to be the preferred supplier of specialty fertilizers specifically tailored for various cultivars of medical marijuana." Uruguay presents opportunities. Earlier this week, the country became the first to regulate the cultivation, distribution and consumption of marijuana. It could be a big market, and Pan American figures that its fertilizers could help in the production of high-grade medical marijuana. Also last week, Jourdan Resources announced it had signed a fertilizer testing agreement with ChroniCare Canada Corp., a privately funded corporation and licenced medical marijuana producer.