Monday 17th September, 2018-A Canadian medical marijuana company says it could provide US $ 18.7 million annually to the government in taxes, fees, licenses and export duties for every 25 acres of cannabis it could harvest.
That is dependent on whether it will be granted permission to establish a production facility on Antigua. If approval is given, the farm will be controlled by Antiguan farmers who would be trained.
The company appeared before Cabinet last week, where it informed members that its systems of extraction would allow it to yield significant quantities of oils from the strains of plants that it would instruct the farmers to grow; the oils would be bottled under controlled circumstances and exported to markets where there is a demand. Their investment would exceed $8 million dollars in machines and $3 million in buildings, patent use, the purchase of seeds, security of farms and other expenses.
Government’s Chief of staff, Ambassador Lionel ‘Max’ Hurst says security was also discussed at last week’s meeting.
Cabinet has asked the firm’s representatives to provide a more detailed plan this Wednesday.