***John McMullen, chief executive officer of LGC, commented: "Jamaica has a well-established cannabis brand with its Rastafarian culture deeply entrenched in the country. Jamaica has the ideal climate, soils and water for the production of a natural sun-grown medical cannabis product range and Global Canna Labs' operations at Montego Bay are well situated to enable exports to anywhere in the world through Montego Bay's international airport.
The Tier 3 cultivator's licence, once granted, will put Global Canna Labs in a strong growth position in Jamaica, as its Tier 3 status will allow for expansion opportunities well beyond the 102 acres currently being considered in the Montego Bay area and the seven acres already secured at Kingston. LGC sees this investment as a very exciting, short-term commercialization opportunity and we look forward to completing the remaining due diligence and moving to close this transaction."