Uruguay is a relatively small country, with about 3.4mm residents, but it is on track to be the first country to permit cannabis sales to adults beginning in July. The program is rather limited, as the government approved only two license applications. Each grower can produce up to 2mm grams per year. Citizens who join a registry and submit to thumbprinting will be able to buy up to 40 grams per month in pharmacies at a price expected to be only $1 per gram, which is well below the black-market price and even further below prices in North America’s legal markets.
One of those companies awarded a license is International Cannabis Corp., headed by 29-year old Guillermo Delmonte and backed by investors with agricultural commodity experience. The company has plans to pursue the medical cannabis and the industrial hemp markets in Uruguay and is exploring other South American countries for expansion opportunities.
South America’s changing, just like the USA. Colombia is having a licence for medical cannabis. Chile is also growing it. All because of Uruguay.
Guillermo Delmonte, CEO of International Cannabis Corp.
Read Alex Marshall’s “Uruguay to test world’s first state-commissioned recreational cannabis”: http://www.theguardian.com/society/2016/apr/18/uruguay-first-state-commissioned-recreational-cannibis-marijuana