CORONA, CA, Oct. 15, 2019 /PRNewswire/ - PRESS RELEASE - Ikänik Farms has announced that Ikänik International, Inc., a wholly owned subsidiary of Ikänik Farms, Inc., has purchased all of the issued and outstanding common shares of Pideka SAS , an indoor medical cannabis cultivator based in Bogotá, Colombia whose founders have over 20 years of R&D experience and cultivation expertise.
"I am excited to welcome Pideka into the Ikänik family," said Brian Baca, CEO of Ikänik Farms, Inc. "Pideka's strong leadership team and reputation as an innovator in Latin America's medical cannabis industry makes it a powerful addition to Ikänik's future growth plans. This acquisition marks a major milestone for our company as it enables a multi-national presence, strategically positioning us for the global cannabis market."
Highlights of the Transaction
- Scalable cultivation, extraction, and manufacturing operations in Latin America: Pideka is currently in the process of building Phase 1 of its Tocancipá based cannabis camp,, a state-of-the-art, 80,000-square-foot complex for cannabis cultivation, extraction and manufacturing. Phase 1 of Casa Flores' construction (80,000 square feet of space for cultivation, extraction and finished product manufacturing) will provide Ikänik with annual production capacity of approximately 16,000 lbs. of dried flower.
- Potential gateway into international markets: Casa Flores has the potential to provide Ikänik with the ability to export medical cannabis products to international markets pending final GMP certification of its production complex. The company will provide further information regarding its plan to bring Casa Flores to GMP certification standards in the near future.
- Diversified product portfolio: Pideka has developed numerous cannabis-based products, including soaps, creams, oils, capsules, sublingual sprays, vaporizable extracts and more.
- Enhanced R&D: Pideka's research team has several R&D projects underway, including a research project with the Pontifical Bolivarian University of Medellin for the treatment of colon cancer with cannabinoids. With its roots in medicinal cannabis research, Pideka's founders have treated over 1,600 patients to date and registered 55 cannabis strains with the Instituto Colombiano Agropecuario (ICA), Colombia's principal agricultural research institute.
