Lesotho: Medical-grade cannabis producer raises $18m

After raising $18 million in a recent international funding round, MG Health, a medical-grade cannabis extracts and products manufacturer, plans to triple its output capacity. This investment follows the company’s entry into key developed markets in 2021.

MG Health aims to broaden its portfolio of medicinal cannabis strains and formulated extracts to meet increased demand in key export markets, such as Germany, Australia, Poland, and Israel.

Located in the mountainous kingdom of Lesotho, MG Health is among the few companies globally that comply with the European Union’s (EU) Good Manufacturing Practice (GMP) for medical cannabis. This allows the firm to export its medicinal cannabis flower and extracts as an active pharmaceutical ingredient (API) to pharmacies in the EU and select other markets.