| 2 min read
Register for free to listen to this article
Listen with Speechify
0:00
2:00
CAPE TOWN, South Africa—Wuhan General Group, Inc., a bioceutical company focused on alternative plant-based cannabinoids and psilocybin medical research, has announced that the company has signed a Memorandum of Agreement to pursue acquisition of Tsime Pharmaceuticals and Medicinal Supplies (Pty) Ltd. Tsime Pharmaceuticals will become a subsidiary of MJ Medtech, Inc.
 
“M2Bio Sciences already sources top-quality coffee from Tanzania, and will now be able to control the production of top-quality cannabis from Lesotho for their product range,” noted Willem Jonker, speaking on behalf of Medigrow Africa Group. “The world will be impressed by the results.”
 
Located in the Kingdom of Lesotho in South Africa, Tsime has the license for the cultivation of 3 hectares of medicinal-grade cannabis on a farm with a land area covering 32 hectares (80 acres). The Tsime license grants the ability to cultivate, extract and process medicinal cannabis and sell the commodity for medicinal, scientific and any other legal purpose. The transaction is anticipated to close within 90 days.
 
The acquisition is extremely strategic for Wuhan — the company believes that having its own cultivation, extraction and processing medicinal cannabis operation is key to driving research and the manufacturing of CBD byproducts.
 
Lesotho offers remarkable advantages:
  • Ideal climate conditions for cannabis plant cultivation
  • Groundwater availability and soil quality
  • Mountainous hectares allows for large, open-air crops
  • Low cost experienced growers and readily available local workforce
  • The government is pro-cannabis, with a low regulatory burden.
 
“Cannabis cultivation was off our radar and low on the priority list until recently,” said Jeff Robinson, chief executive officer of Wuhan General Group. “The big and much-needed shakeout in the cannabis sector has offered up tremendous opportunities for Wuhan and its shareholders. As many companies have been forced to leave the battlefield badly wounded, some mortally, we enter the arena unscathed and at a fraction of the costs.”
 
“We plan to expand our relationship considerably in the coming months with Willem and Medigrow Africa. Furthermore, we are very proud to contribute to the economic development of Lesotho through this Transaction. The grass is greener in Africa!” Robinson adds.

Related Topics

Loading Next Article...
Loading Next Article...
Subscribe to Newsletter

Subscribe to our eNewsletters

Stay connected with all of the latest from Drug Discovery News.

Subscribe

Sponsored

Laboratorian with a white coat and blue gloves pipettes green liquid into a beaker with multicolored liquids in beakers and tubes in the blue-tinged, sterile laboratory background.

Discovering cutting-edge nitrosamine analysis in pharmaceuticals

New tools help researchers detect and manage harmful nitrosamine impurities in drugs such as monoclonal antibodies.
A starry night sky reflected over calm water, symbolizing the discovery of hidden patterns in complex systems.

Technology Guide: Spatial biology techniques

Discover essential strategies and expert insights to navigate the expanding world of spatial biology.
Red tumor cells are shown against a teal backdrop showing attachment to tissue.

Decoding the tumor microenvironment with immune profiling

Integrating multiplexed immunohistochemistry with spatial analysis offers a practical way to uncover tumor-immune dynamics.
Drug Discovery News March 2025 Issue
Latest IssueVolume 21 • Issue 1 • March 2025

March 2025

March 2025 Issue

Explore this issue