Adding to its already strong collection of more than 260 strains, BPH Energy Limited’s (ASX: BPH) investee Patagonia Genetics has recently acquired a catalogue of an additional 24 CBD (Cannabidiol) and Hemp strains from a leading Colombian breeder - Buddah Twinz, speeding up its plans to commercialise the genetic library by Q1 2020.
Buddah Twinz possesses about 6 years of experience in commercial cultivation and export with 17 years of experience in cannabis cultivation. It has recently received an award for 'Best Extracts in Colombia' and achieved second place in 'Solvent Extracts' in an invite-only event called Dabadoo.
In August this year, BPH acquired an interest of 10 per cent in Patagonia, with an option to acquire a total shareholding of 49 per cent. Patagonia is Chile-based craft cannabis company that has a genetic collection of a range of hemp and cannabis strains, which have been chosen for their exceptional terpene profile, pest resistance, production yield, CBD/THC content, uniqueness and medicinal properties.
Recently, Patagonia purchased first 1,300ltrs of products of Chile’s leading cannabis fertilizer and biostimulant range, Wonderland Agronutrients to send samples to major licensed producers and expand shops internationally who have shown interest.
Patagonia Expands its Robust Collection of CBD & Hemp Strains
As per Patagonia, the future of cannabis is in high-grade craft cannabis, field grown and outdoor. Given this backdrop, the company has recently acquired additional CBD and Hemp strains after conducting a careful review of the available genetics.
In October this year, Patagonia’s directors undertook a field trip to Colombia to examine a unique genetic seed bank, consisting of more than 150 strains, comprising some excellent CBD and Hemp varieties.
After performing a careful review of the available genetics, Patagonia chose 24 strains that were believed to hold considerable potential in both the hemp and medical cannabis markets.
Patagonia has contracted the breeder of the strains to undertake characterization grows to attain fresh COA's (Certificates of Analysis) on each strain. This data will offer details on the levels of contained cannabinoids, flowering periods, terpene profiles, yield etc., thus permitting them to be marketed to large scale hemp and medical cannabis farmers.
The genetics offer a new variety of phenotypes for Patagonia to integrate into its proposed breeding program, from high yields, short flowering periods, full spectrum levels of CBG (Cannabigerol) and CBD and other cannabinoids etc.
Casting eye over opportunities in medical cannabis space
The medical cannabis sector is demonstrating substantial growth with recent developments boosting the sector’s viability, including the step to legalise cannabis in Canada and the declaration by the government of the UK to legalise medical cannabis.
Patagonia’s Forward-Looking Plans
Patagonia wants to commercialise its genetic library as early as Q1 2020 via the following avenues:
Moreover, the company expects the granting of first licenses in relation to the eleven license applications that are currently under review with the Livestock & Agriculture Service (SAG) in Q4 2019 or Q1 2020.
Patagonia is holding discussions with a supplier of extraction equipment that can produce EU GMP certified extracts. Under the terms of the planned agreement, the group would supply EU GMP extraction facilities to Patagonia in exchange for a share of revenues generated.
As on 22nd November 2019, BPH closed the trading session at $0.0015.
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