The first commercial sale of THC-rich cannabis oil in Mexico took place this week.
California-based Ikänik Farms, Inc. (Ikänik) on Thursday announced that its Colombian subsidiary Pideka SAS had completed the first commercial sale and exportation of THC to Mexico.
The oil is for use in formula magistral.
“We are excited to participate in this groundbreaking moment for the cannabis industry and the countries of Mexico and Colombia, as the first Colombian company to export psychoactive cannabis oil to Mexico,” says Ikänik Farms, International President Borja Sanz De Madrid. “We would like to thank both governments for their roles, ensuring this collaborative effort remained a top priority.”
Ikänik worked with the Colombian and Mexican governments, allowing the company to obtain the necessary permissions and certifications.
The 15-step process enabled Ikänik to export psychoactive cannabis products from Colombia to Mexico.
Ikänik says the company legalized the exportation process for THC-rich cannabis in Colombia, making it the first company to successfully “complete a commercial sale for export.”
“We are proud to have participated in this historic moment and look forward to our growth, servicing the global cannabis market,” says Ikänik CRO Brian Baca.
In the future, Ikänik plans to provide formula magistral solutions to treat cancer, epilepsy, pain, anxiety, nausea, and insomnia.
Ikänik also plans to list on the Canadian Securities Exchange.