South Africa: SilverLeaf in cannabis deal
South Africa’s SilverLeaf Investments has made an investment into a local medicinal cannabis facility.
SilverLeaf has entered into a joint venture with Druids Garden, one of South Africa’s leading medicinal cannabis cultivars and the first to secure a multi-year international supply agreement with an Australian pharmaceutical company.
“The investment is assisting our growth and ability to meet our existing take-off agreements,” says Cian McClelland, CEO and co-owner of Druids Garden.
“SilverLeaf Investments is the last Section J12 fund to launch in the South Africa market and appears to be the first to invest in 2021, creating excitement for those who have jumped onto this green bandwagon,” said Pierre van der Hoven and Clifford Giesenow, joint CEOs of the fund. “We are really pleased to partner with one of only a handful of South African-based medicinal cannabis cultivars who are licensed by SAHPRA themselves to tackle the many opportunities to export world-class products across the globe.”
Druids Garden, where the investment will be spent, is a health and wellness company that was formally established in 2017 to grow and harvest endangered plants used in African traditional medicine.
Druids Garden, Druids Grow, Druids Extracts and the Druids Garden Retreat are subsidiaries of Druids Holdings (Pty) Ltd, registered in South Africa. The company brings together more than 30 years of growing and cultivation experience plus 10 years of African and Asian medicinal extract and manufacture experience.