By Chloe Aiello
It "really makes sense" for cannabis companies to lead the way in hemp, especially in nascent markets, CannAmerica Brands CEO and Co-Founder Dan Anglin told Cheddar.
"You are looking at good manufacturing processes, you are looking at FDA, you're looking at EPA ... organic certification ー these are all concepts and regulations that many of these companies have yet to experience in CBD, but we've been through it in THC," Anglin said.
CannAmerica, a veteran-owned company known for its cannabis-infused gummies, announced last week it signed a letter of intent with Sericea Labs and CBDistribution Company to create a joint venture that aspires to build a facility in Mexico for importing CBD products, as well as oils and tinctures for refining.
"In Mexico, what we're trying to accomplish is replace the agricultural loss of a number of different types of industry in Mexico, and we are also trying to have an impact on society in a positive way," Anglin said.
Anglin added that the Mexico location advances CannAmerica's goal of global distribution. The company is also looking to expand its footprint in Europe.
CannAmerica is hardly the first hemp or cannabis company to reach south of the U.S. border. Companies like Aphria ($APHA), Sol Global Investment, and Khiron Life Sciences (which claims former Mexican President Vicente Fox as a board member) all have growing presences in Latin America, which is projected to have a $12.8 billion legal cannabis industry by 2028, according to a report from Prohibition Partners.
"We are basically just pioneering and moving forward creating a legalized process that is legitimate, just like we did in the United States," Anglin said.
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