The ever increasing popularity of hemp has prompted quite a few companies in United States to take their production level to new level. Amongst many such entities, Newcastle Investment Corp. (NYSE:NCT) is a renowned name. As per the reports, Sannabis, a wholly owned subsidiary of Newcastle Investment has announced its plans to carry out the production activities of Hemp Biomass in Colombia.
Insights On The Matter:
Newcastle has its coal and other related assets based in Colombia; hence, carrying out production activities won’t be a major issue for the company. Sannabis SAS has been producing various medicines based on cannabis in Colombia for over a couple of years now. Rather than targeting large corporate houses, Sannabis sells all of its drugs directly to foundations and patients as they help the company executing distribution activities. All of these people and foundations enjoy the advantages of being the first mover in Colombia.
Recently, Sannabis had a brief meeting with quite a few politicians in Norte del Cauca Department of Colombia with the objective to set up a program that would look after the production of cellulosic feedstock for bio-fuels. The department is considered as an ideal destination to carry out such production activities related to high-grade cannabis. Its soil is natural and it gets sunlight for 365 days a year, which makes it a perfect place to produce bio-fuels.
Apart from perfect land and climate conditions, the New Colombia Resources also has ample mineral and coal resources on their property in Guaduas area. The company owns the mining and land titles for coal and other minerals that can be granted. New Colombia Resources finds a great value in using industrial hemp for the blending of biomass. The management of Newcastle is optimistic about this step and hopes that it will add a great value to the shareholder of company in the future.
