Colombian cannabis producer Blueberries Medical Corp. (CSE: BBM) has invested $1.5 million in purchasing a 37-acre cultivation plot in the Bogota Savannah.
The firm already has a 107,000 sq. ft. facility on a 7.4-acre plot in Guatavita and it now plans to expand its capacity considerably. Its new plot is in Zipaquira and it is putting the finishing touches on plans for a 1.3 million sq. ft. greenhouse there.
Blueberries will spend a further $2 million to build the first-stage facility, taking its total investment to $3.5 million. The first stage will include a 500,000 sq. ft. greenhouse yielding 30,000 kilos per year, and it will then need to raise further cash to complete the build-out.
The first phase is expected to be completed by the end of 2019 and the next two phases will be announced when it has settled on design and a budget. Blueberries now has multiple farms in Colombia and it has its sights set on exports.
He pointed to the Bogota Savannah’s favourable conditions for growing cut flowers as evidence of its suitability for marijuana cultivation. Colombia is the world’s second largest exporter of cut flowers, and 70% are produced in the Bogota Savannah. He added that the labour force, power availability, and proximity to El Dorado International Airport also count it its favour.
Blueberries recently entered a joint venture with El Manantial Medical Centers to develop cannabis medicines and build up patient numbers, while assisting Colombia medical professionals and arming them with information about the health benefits of cannabis. Earlier this month it snapped up CDN MSolar Corp. in a reverse takeover and it then commenced trading on the CSE as Toro stated its ambition to blend Canadian cannabis industry leadership with Colombian “passion and expertise”.