Ananda Developments has unveiled the latest phase of its wide-ranging U.K. cannabis business strategy with moves to create domestic cultivation and extraction operations.
Already involved in the wholesale vaping and events’ markets it has applied for a growing licence in partnership with a leading U.K. cultivation company. This new business; DJT Plants is a 50/50 partnership of Ananda and Anglia Salads of Essex – the second largest provider of salad leaves to the U.K. sandwich market
DJT has also paid a deposit to buy Aristaeus Elements, a specialist in carbon dioxide cannabis plant extraction processing.
Licence for 0.2% THC Cannabis
In an announcement on the NEX Exchange Ananda says the moves are the latest element in ‘its plans to participate in the nascent medicinal and wellness cannabis sectors’. The company drew comparisons with the oil and gas industry when explaining the thinking behind this move saying ‘the directors believe that refining capacity will be very valuable well into the maturing of the market.
It continued: “As the medicinal cannabis markets grow and the CBD wellness market becomes increasingly regulated, Ananda believes that the ability to make high quality GMP compliant cannabinoid products, whether oil, distillates or isolates, will be increasingly important and as such, GMP compliant refining capacity will be increasingly valuable.”
Ananda has submitted an application to the U.K. Home Office for a licence to grow cannabis with less than 0.2% THC, and says dried flower, from this facility and third party operations, would be processed through the proposed extraction plant.
It says the extraction plant would be located at an ‘international location chosen for its position relative to supply and demand’. In an earlier interview with CBD testers Ananda founder and chief executive Melissa Sturgess said it was looking to make further investments into the industry and was considering a pipeline of potential further deals.
Its first investment of U.S. $200,000 was into iCan Israel-Cannabis, a business with a portfolio of interests including the global cannabis event CannaTech. It also has a controlling stake in Liberty Herbal Technologies Limited the owner and developer of hapac, a technology for vaping medicinal cannabis.
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