Plans to build UK cannabis greenhouse
Sativa investments steps towards developing cannabis greenhouse in the UK
Kiran Suain Nottingham 20.03.19
Current Affairs Society, University of Nottingham
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“Sativa seeks to invest in global companies which are well-placed to take advantage of the dynamic regulatory environment surrounding medical Cannabis.” This bold mission statement taken from the website of Sativa Investments PLC encompasses their aims and goals – aligning with recent rescheduling of and legalisation of cannabis in different areas of the globe.
In the UK, the government has recently rescheduled cannabis products for medicinal use as a Schedule 2 controlled drug – as opposed to the Schedule 1 class cannabis had prior. This rescheduling means that cannabis containing medicinal products can now be regulated and prescribed by a doctor on the specialist register of the General Medical Council. The relevant changes to legislation will come to effect from 1st November 2018. Within these changes, the National Institute for Health and Care Excellence (NICE) will be commissioned to provide advice to clinicians to ensure appropriate use of the medicines. These changes in legislation open up opportunities for business to fill gaps in the market – the cannabis gap now being filled by Sativa Investments PLC. Sativa have made an option agreement for a 298,806 square foot glasshouse – for the growth of medicinal cannabis in Wiltshire, UK. This has been announced under the Regulatory information Service, and Sativa state they have liaised with both the Home Office and the Medicines and Healthcare products Regulatory Agency (MHRA). Furthermore, Sativa have applied for the UK Home Office Drugs Licencing and Compliance Unit for a medical cannabis growing licence. This will be the first UK medicinal cannabis investment for production, and glasshouse facility and Sativa have signed for an £85 thousand option for the 7.53 acre development site. This site will be used to grow cannabis plants for the production of cannabidiol (CBD) products, containing tetrahydrocannabinol (THC). Hence the site will also host an extraction facility for the extraction of the active ingredients for medical uses. Sativa also state on their website that their “investment strategy focuses on production, pharmacology, testing and compliance, R&D commercialisation, and sales and marketing.” Going forward, this investment may be one of many future legal cannabis growing companies that opens a site in the UK. Collective Equity Ownership Ltd. (CEO) is a secondary fund. We allow founders and shareholders of VC-backed companies to pool together their shares with other late-stage companies to diversify their portfolio. If you know any cool founders, or someone with a lot of experience, get in touch! We love meeting new people! ceo@collectiveequity.com |
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