Canadian Company Clinches Deal to Grow 17,000 Acres of Hemp in China

A Toronto-based cannabis company announced on Tuesday that it had signed an agreement with a Chinese partner allowing the Canadian company to grow and process industrial hemp on 17,000 acres in China.

Pure Global Cannabis, the Canadian company, signed this agreement with a Chinese company called KMT-Hansa Corp. KMT currently holds licenses to grow and process hemp on 17,000 acres in China, and they are teaming up with Pure Global to pull it off.

Under the terms of the agreement, Pure Global will be responsible for providing the technology, know-how and the plant genetics required for the success of the project. Pure Global will also take charge of distribution and sales of all the products that are made during the execution of the joint project.

The Canadian company has also been tasked with designing the extraction, processing and manufacturing facilities that comply with Good Manufacturing Practices (GMP).

Another seller or distributor for the products made can only be sourced once Pure Global declares that it is waiving its right to this component of the business.

KMT-Hansa Corp. will take charge of making sure that all the necessary licenses and permits are secured and maintained with all the relevant Chinese government authorities.

Malay Panchal, the President and CEO of Pure Global, revealed in a press statement that he was excited that Pure Global had managed to be the first Canadian company to secure a partnership that enabled it to put together such a large-scale project in China.

Panchal believes that the entire team at KMT shares Pure Global’s goal of coming up with high-quality agricultural products that are made using the best cutting-edge technology currently available.

This agreement is viewed by both parties as a stepping stone to other bigger international production agreements between the two entities. The two companies are therefore committed to moving quickly to address the needs of a rapidly growing market for CBD products.

Pure Global and KMT plan to sell CBD isolates and consumer products throughout Asia as well as 50 international markets where CBD is legal.

Panchal also revealed that this is an exciting time for Pure Global because they have not only managed to secure the deal with KMT, but have also received a cannabis oils sales license from Health Canada.

Experts believe that partnerships such as those entered into by Pure Global Cannabis and KMT-Hansa Corp. provide impetus to other hemp companies, such as Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) and Earth Science Tech Inc. (OTCQB: ETST), to work harder and increase their international footprint in order to tap the global market for hemp-derived products.

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